Thursday's Analysts' Upgrades and Downgrades
CHANGE IN RATINGS
Biogen Idec
(BIIB) - Get Report
downgraded at UBS to Sell rating from Neutral. Price target and 2008 EPS estimates hold at $58 and $3.55, respectively.
Buckeye Technologies
(BKI) - Get Report
downgraded at Citigroup from Buy to Hold. Estimates also raised, to reflect the latest drop in the US dollar. $15 price target.
Syntax-Brillian
(BRLC)
downgraded at Merrill Lynchfrom Buy to Sell. 2008 estimates also cut, to reflect management's new guidance because of component supply constraints.
Dick's Sporting Goods
(DKS) - Get Report
initiated at UBS with Buy rating. Price target starts at $80 with 2008 EPS estimates at $2.53.
MeadWestvaco
(MWV)
upgraded at Credit Suisse to Outperform from Neutral based on favorable risk/reward balance. Raised target price to $38 from $30.
Prudential
(PRU) - Get Report
upgraded at Credit Suisse to Outperform from Neutral based on valuation and overall quality of investment portfolio. Maintained $103 target price.
Spectra Energy
(SE) - Get Report
initiated at Morgan Stanley with an equalweight rating.
Silicon Laboratories
(SLAB) - Get Report
initiated at Jefferies with a Buy rating. Price target starts at $49 with 2008 EPS estimates at $1.62.
Thornburg Mortgage
(TMA)
upgraded at Deutsche Bank from Sell to Hold. $12.50 price target. Company has stabilized its business and improved liquidity.
STOCK COMMENTS / EPS CHANGES
Alcon
(ACL)
numbers raised at Jefferies. Price target lifts to $166 from $164 and 2008 EPS estimates upped to $6.29 from $6.22. Reiterates Buy rating.
Advanced Micro Devices
(AMD) - Get Report
target lowered at UBS. Price objective dips to $15 from $16.50. Reiterates Neutral rating.
Cincinnati Bell
(CBB) - Get Report
added to Focus List at JP Morgan. $6 price target. Company is the cheapest name in the group, and will use solid cash flow to buy back stock. Overweight rating.
FreightCar America
(RAIL) - Get Report
numbers lowered at Jefferies. Price target slashed to $37 from $47 and 2008 EPS estimate drop to $1.25 from $2.00. Reiterates Hold rating.