Monday's Analysts' Upgrades, Downgrades
Change in Ratings
Apple
(AAPL) - Get Report
upgraded at Weisel from market-weight to overweight. Current valuation discounts the company's robust long-term growth prospects. Estimates also raised through 2009. $195 price target.
BMC Software
(BMC)
downgraded at Goldman Sachs to neutral from buy based on preference for value/turnaround plays in the current market environment. BMC's BladeLogic acquisition delays margin expansion and leaves less cash for share buybacks. Target cut to $37 from $41.
Columbia Sportswear
(COLM) - Get Report
downgraded at Citigroup from hold to sell with a $41 price target. Estimates also cut, as the company will likely announce lower order backlogs with its first-quarter results.
Estee Launder
(EL) - Get Report
downgraded at UBS to neutral rating from buy. Price target and 2008 EPS estimates hold at $52 and $2.37, respectively.
Emulex
(ELX)
downgraded at Wachovia to market perform. Estimates also cut, as company may guide lower at its first-quarter report. Checks show to slowing demand at key customers.
KLA-Tencor
(KLAC) - Get Report
upgraded at Citigroup from hold to buy with a $56 price target. Several catalysts are likely to develop against an improving cyclical backdrop.
Lincoln Electric
(LECO) - Get Report
upgraded at BB&T to buy with a $90 price target. Company has an appealing blend of international and infrastructure business.
MGM Mirage
(MGM) - Get Report
downgraded at Oppenheimer from positive to neutral with a $62 price target. Business is slowing down, and the company is not likely to further develop excess land in Las Vegas.
Nortel
( NT) downgraded at Baird. Checks show that U.S. enterprise sales have slowed down in the past few weeks. Estimates also cut, because of lower expected CDMA demand.
ComScore
(SCOR) - Get Report
upgraded at Jefferies to buy rating from hold. Price target and 2008 EPS estimates hold at $27 and 38 cents.
Seagate Technology
(STX) - Get Report
downgraded at Weisel from overweight to market-weight. Company will grow slower than WDC, and competition will likely weigh on gross margins. $25 price target.
Temple-Inland
( TIN) upgraded at Citigroup from hold to buy with a $23 price target. Stock is down 40% since the end of 2007, as the containerboard industry tends to outperform in the mid-to-late stages of a recession.
TJX Companies
(TJX) - Get Report
downgraded at Citigroup from buy to hold with a $36 price target. Valuation call, as the stock is already up 16% for the year. Same-store sales could also disappoint in the coming months.
Westlake Chemical
(WLK) - Get Report
upgraded at UBS to buy rating from neutral. Price target and 2008 EPS estimates hold at $19 and $2.20, respectively.
Stock Comments/EPS Changes
Mosaic
(MOS) - Get Report
target raised at Goldman to $150 from $135 based on accelerating earnings growth. See continued rise in DAP prices more than offsetting rising sulfur costs. Maintained buy rating.
Potash
(POT)
price target upped at Goldman to $225 from $180 based on higher earnings estimates. Note continuing strength in fertilizer fundamentals and see additional price increases. Maintained buy rating.
This article was written by a staff member of TheStreet.com Ratings.