Adobe: Analysts' Upgrades, Downgrades
NEW YORK (
) --
CHANGE IN RATINGS
Alkermes
(ALKS) - Get Alkermes plc Report
reinstated at BofA/Merrill with a Buy rating and $16 price target. Untapped value in Vivitrol.
Cablevision
(CVC)
initiated at JPMorgan. Initiated with an Overweight rating and $30 price target. Introduces 2010 EPS estimates of $1.41.
DreamWorks
(DWA)
upgraded at Stifel from Hold to Buy. $35 price target. Stock appears oversold at current levels.
Edwards Lifesciences
(EW) - Get Edwards Lifesciences Corporation Report
downgraded at Goldman from Buy to Neutral. Stock was also cut from the Conviction List. Valuation call, based on a $60 price target.
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Holly Corp
( HOC) upgraded at BofA/Merrill to Buy from Neutral. Valuation call. Price target jumped to $35 from $32.
Lululemon
(LULU) - Get lululemon athletica inc. Report
rated new Neutral at Baird. $49 price target. Stock is already pricing in the company's strong growth prospects.
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MannKind
(MNKD) - Get MannKind Corporation Report
reinstated at BofA/Merrill with a Buy rating and $18 price target. Low expectations priced in.
Monster Worldwide
(MWW)
upgraded at Oppenheimer from Perform to Outperform. $21 price target. Fundamentals are bottoming and the company should benefit from a cyclical recovery in employment.
Niska Gas Storage
(NKA)
initiated at Credit Suisse with an Outperform rating and $21 price target. NKA is one of two pure-play natural gas storage MLPs.
Noranda Aluminum
(NOR)
initiated at Credit Suisse with an Outperform rating and $11 price target. NOR's dominant driver will be underlying aluminum prices.
Noranda Aluminum
(NOR)
initiated at BofA/Merrill with a Buy rating and $11 price target. High leverage to commodity price rebound.
PPL
(PPL) - Get PPL Corporation Report
upgraded at Soleil from Hold to Buy. $29 price target. Earnings visibility should improve, following the company's recent acquisitions.
Treehouse Foods
(THS) - Get Treehouse Foods Inc. Report
rated new Equal-weight at Morgan Stanley. The company's organic growth prospects are in-line with its peers.
STOCK COMMENTS / EPS CHANGES
Adobe Systems
(ADBE) - Get Adobe Inc. Report
estimates increased at Goldman through 2012. Company is seeing better CS sales. Buy rating and $46 price target.
Adobe Systems
(ADBE) - Get Adobe Inc. Report
estimates upped at UBS through 2011. Company is seeing better sales. Buy rating and $45 price target.
Carnival
(CCL) - Get Carnival Corporation Report
price target cut at Credit Suisse to $38 from $40.50 following lackluster 2Q10 update. Maintain Neutral rating.
Carnival
(CCL) - Get Carnival Corporation Report
estimates increased at UBS through 2011. Company continues to see better demand. Buy rating and $43 price target.
Goldman Sachs
(GS) - Get Goldman Sachs Group Inc. (The) Report
price target cut at Barclays. GS price target sunk to $175 from $195 on tougher financial market conditions. Estimates lowered through 2011. Maintain Equal Weight rating.
Jabil Circuit
price target tweaked at Credit Suisse to $18 from $18.60 on great 3Q10 results, partly overshadowed by inventory. Leverage story ends, growth story begins. Maintain Neutral rating.
Jabil
estimates, target raised at UBS. Shares of JBL now seen reaching $21. Estimates also increased, to match the company's new guidance for consumer-related growth. Buy rating.
L-3 Communications
(LLL) - Get JX Luxventure Limited Report
price target lower at Barclays to $100 from $114 on worries about future defense spending. Maintain Overweight rating.
Morgan Stanley
(MS) - Get Morgan Stanley Report
estimates cut at Barclays. MS 2010 and 2011 EPS estimates dropped to $2.83 and $3.25, respectively. Barclays noted wider credit spreads, higher volatility, and a flight to safety. Maintain Equal Weight rating and $34 price target.
Ralcorp
( RAH) estimates, target lowered at UBS. Shares of RAH now seen reaching $62, according to UBS. Estimates also cut, as the company continues to struggle in the cereal business. Neutral rating.
Union Pacific
(UNP) - Get Union Pacific Corporation Report
target upped at Morgan Stanley to $87. Volumes are trending higher across the board. Overweight rating.
Walgreen
(WAG)
target higher, estimates changed at Barclays. WAG price target raised to $29 from $27. WAG is struggling with Rx margins. 2010 EPS estimates reduced to $2.09, 2011 lifted to $2.36. Maintain Equal Weight rating.
Walgreen
(WAG)
estimates cut at Morgan Stanley through 2012. Company is facing lower margins, because of prescription reimbursement rates. Equal-weight rating.
This article was written by a staff member of TheStreet.com.
