Genzyme: Analysts' Upgrades, Downgrades
NEW YORK (
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CHANGE IN RATINGS
Acorda Therapeutics
(ACOR) - Get Report
downgraded at Leerink from Outperform to Market Perform. Valuation call, as potential risks lay ahead.
American Eagle
(AEO) - Get Report
upgraded at Wells from Market Perform to Outperform. Estimates also raised, to reflect the company's comp sales momentum.
Baker Hughes
(BHI)
reinstated at BofA/Merrill. BHI coverage reinstated with a Buy rating and $61 price target. HBI has above average exposure to higher growth, early cycle product service lines.
Cameron International
(CAM)
reinstated at BofA/Merrill. CAM coverage reinstated with a Buy rating and $56 price target. Upside from integration of NATCO acquisition, Bank of America/Merrill Lynch said.
Core Labs
(CLB) - Get Report
initiated at BofA/Merrill. CLB coverage initiated with a Buy rating and $136 price target. Buy based on continuation of share buybacks, valuation, and earnings acceleration.
Citrix Systems
(CTXS) - Get Report
rated new Neutral at UBS. Coverage of CTXS was started with a Neutral rating. $47 price target. Stock is already pricing in increased IT spending.
Deere
(DE) - Get Report
upgraded at JP Morgan from Neutral to Overweight. $65 price target. Seeing signs of a recovery in multiple areas of equipment.
Deere
(DE) - Get Report
estimates, target increased at UBS. Shares of DE now seen reaching $61. Estimates also raised, because of higher expected agriculture demand. Neutral rating.
Dril-Quip
(DRQ) - Get Report
initiated at BofA/Merrill. DRQ coverage initiated with a Buy rating and $68 price target. Recent capacity expansion is driving revenue growth.
FMC Technologies
( GENZ) reinstated at BofA/Merrill with an Underperform rating and $65 price target. Not many growth catalysts and poor valuation, Bank of America/Merrill Lynch said.
Halliburton
(HAL) - Get Report
reinstated at BofA/Merrill with a Buy rating and $43 price target. Bank of America/Merrill Lynch noted growing international demand.
Itron
(ITRI) - Get Report
upgraded at Needham from Hold to Buy. $69 price target. Company is positioned well to grow in 2010.
Itron
(ITRI) - Get Report
price target cut at BofA/Merrill. ITRI price target lowered to $75 from $80. Estimates reduced through 2012. Maintain Buy rating.
National Oilwell Varco
(NOV) - Get Report
reinstated at BofA/Merrill with a Buy rating and $51 price target. Bank of America/Merrill Lynch noted a recovery in the services business.
NetApp
(NTAP) - Get Report
estimates, target increased at Goldman. Shares of NTAP now seen reaching $38. Estimates also boosted, as the company is seeing higher sales. Neutral rating.
Nucor
(NUE) - Get Report
upgraded at BofA/Merrill to Neutral from Underperform on valuation and higher steel prices. Price target jumped to $50, 2010 EPS estimate improved to $2.
Protective Life
(PL)
downgraded at Sterne Agee from Buy to Neutral. $21 price target. Core Life Marketing segment remains under pressure.
VMWare
(VMW) - Get Report
rated new Buy at UBS. $54 price target. Company should benefit from reinvestment in datacenter projects.
Watsco
(WSO) - Get Report
downgraded at Keybanc from Buy to Hold. Valuation call.
Watsco
(WSO) - Get Report
estimates, target upped at Morgan Stanley. WSO estimates were increased through 2011. Company continues to grow its margins. Overweight rating and new $65 price target.
STOCK COMMENTS / EPS CHANGES
Advanced Auto Parts
(AAP) - Get Report
forecasts reduced at Credit Suisse. AAP 2010 and 2011 EPS estimates lowered to $3.30 and $3.80, respectively. Maintain Outperform rating and $48 price target.
Analog Devices
(ADI) - Get Report
estimates, target boosted at Goldman. ADI estimates were increased through 2011. Company is realizing higher margin leverage. Buy rating and new $37 price target.
Applied Materials
(AMAT) - Get Report
estimates raised at Goldman. AMAT estimates were increased through 2011. Company is seeing strong silicon orders. Buy rating and $17 price target.
CF Industries
(CF) - Get Report
numbers increased at UBS. CF estimates were raised through 2011. Company is seeing higher demand for Nitrogen and Phosphate. Neutral rating and new $104 price target.
Chesapeake Energy
(CHK) - Get Report
estimates raised at UBS through 2010. Company guided toward higher production growth. Neutral rating and $29 price target.
Darden Restaurants
(DRI) - Get Report
numbers upped at Goldman Shares of DRI now seen reaching 2012. Estimates also boosted, to reflect better sales and margins. Neutral rating and new $44 price target.
Devon Energy
(DVN) - Get Report
estimates boosted at Goldman through 2011. Company is seeing higher production rates and lower costs. Buy rating and $96 price target.
EMC
(EMC)
target upped at UBS. Shares of EMC now seen reaching $21. Company likely to benefit from momentum at VMW. Buy rating.
FMC Technologies
( GENZ) price target raised at Credit Suisse. FTI price target jumped to $57 from $54 after solid 4Q09 results. 2010 and 2011 EPS estimates increased to $2.60 and $2.90, respectively. Maintain Neutral rating.
FMC Technologies
( GENZ) numbers upped at FBR. Shares of FTI now seen reaching $77. Estimates also boosted, as the company has tremendous order potential in 2010. Outperform rating.
Genzyme
( GENZ) price target boosted at BofA/Merrill to $54 from $47 based on switching from a multiple-based valuation to discounted cashflow, as investors view GENZ as a break up saleable company. Maintain Underperform rating.
Genzyme
( GENZ) estimates, target reduced at Goldman. Shares of GENZ now seen reaching $51. Estimates also cut, as the company is facing higher expenses. Sell rating.
Hewlett-Packard
(HPQ) - Get Report
price target increased at BofA/Merrill to $62 from $60 after solid 1Q10 results. Estimates raised through 2012.
Hewlett-Packard
(HPQ) - Get Report
numbers raised at Goldman. HPQ estimates were increased through 2011. Company is gaining share and has strong operating leverage. Buy rating and new $61 price target.
Life Technologies
(LIFE) - Get Report
estimates cut at Morgan Stanley. LIFE estimates were lowered through 2012. Recent debt offering increases interest expense, but still makes strategic sense. Overweight rating and $57 price target.
Las Vegas Sands
(LVS) - Get Report
estimates lowered at UBS. LVS estimates were cut through 2010. Weak Las Vegas results will continue to weigh on results. Buy rating and $20 price target.
Nabors
(NBR) - Get Report
estimates, target increased at UBS. Shares of NBR now seen reaching $25, according to UBS. Estimates also boosted, because of better U.S. pricing. Neutral rating.
Newfield Exploration
(NFX)
numbers increased at Goldman. NFX estimates were raised through 2012. Company can deliver double-digit production and free cash flow growth. Buy rating and new $63 price target.
NetApp
(NTAP) - Get Report
target, estimates boosted at Credit Suisse. NTAP price target raised to $29 from $27 on signs of networked storage recovery. 2010 and 2011 EPS estimates surged to $1.43 and $1.62, respectively. Neutral rating.
Nvidia
(NVDA) - Get Report
estimates, target increased at Goldman. Shares of NVDA now seen reaching $16. Estimates also boosted, to reflect the company's higher gross margin. Neutral rating.
OfficeMax
(OMX)
estimates, target raised at Goldman. Shares of OMX now seen reaching $17.50. Estimates also upped, as the company is seeing better sales. Buy rating.
Priceline.com
(PCLN)
target, estimates boosted at BofA/Merrill. PCLN price target increased to $300 from $228 on higher estimates. Estimates raised through 2011. Maintain Buy rating.
Priceline.com
(PCLN)
numbers raised at Goldman. Shares of PCLN now seen reaching $265. Estimates also boosted, given better sales in Europe. Buy rating.
Phillips-Van Heusen
(PVH) - Get Report
numbers increased at Morgan Stanley. Shares of PVH now seen reaching $51. Estimates also upped, as the company is seeing better demand across the board. Overweight rating.
Cimarex Energy
(XEC) - Get Report
estimates raised at Morgan Stanley through 2011. Company is seeing better production from it new wells in the Gulf Coast. Overweight rating and $65 price target.
This article was written by a staff member of TheStreet.com.