Tuesday's Analysts' Upgrades, Downgrades
Change in Ratings
Affymetrix
(AFFX)
downgraded at Bear to underperform. Estimates also cut, as the company warned of lower sales. $12 price target.
Blockbuster
( BBI) downgraded at JPMorgan from overweight to neutral. Do not like the proposed
Circuit City
(CC) - Get Report
deal, as synergies will be difficult to realize. Estimates also cut, to reflect management's latest guidance.
Black & Decker
( BDK) initiated at UBS with a neutral rating and $72 target price. Initiated 2008 EPS estimates of $5.50.
Bemis
(BMS) - Get Report
upgraded at Merrill from sell to neutral. Expectations are low, though the company generates solid free cash flow and pays a hefty dividend.
Crocs
(CROX) - Get Report
downgraded at Weisel to market-weight. Company warned of lower sales, and with high fixed costs, margins continue to de-lever.
CSX
(CSX) - Get Report
upgraded at UBS. Short-term rating raised to a buy and reiterated neutral 12-month rating. Raised 2008 EPS rating of $3.97 from $3.95 and price target of $62 from $60.
Masco
(MAS) - Get Report
initiated at UBS with a neutral rating and $20 price target. Initiated 2008 EPS estimates at 90 cents.
Massey Energy
( MEE) upgraded at JPMorgan from neutral to overweight. Company should benefit from higher metallurgical coal prices through 2009.
Mohawk Industries
(MHK) - Get Report
initiated at UBS with a buy rating and a $95 price target. Initiated 2008 EPS estimates of $5.70.
Seaspan
(SSW) - Get Report
initiated at Jefferies with a buy rating, $33 price target and 2008 EPS estimates of $1.28.
Stock Comments/EPS Changes
Affymetrix 2008 EPS estimates lowered at UBS to 31 cents from 42 cents. Reiterated buy rating and $22 price target.
Boeing
(BA) - Get Report
price target lowered at UBS to $75 from $80. Maintains 2008 EPS estimates of $5.93 and sell rating.
Wachovia
(WB) - Get Report
2008 EPS estimates lowered at UBS to $1.92 from $3.40. Price target lowered to $35 from $39. Maintains buy rating.
This article was written by a staff member of TheStreet.com Ratings.