Anadarko: Analysts' Upgrades, Downgrades
Editor's note: This piece was originally published on Monday, Aug. 9, with an incorrect ticker for Aecom. The correction has been made below.
NEW YORK (
) --
CHANGE IN RATINGS
Aecom
(ACM) - Get AECOM Report
was initiated with a Neutral rating at Goldman Sachs. $28 price target. Austerity measures will likely hurt the company's global demand.
American Capital Agency
(AGNC) - Get AGNC Investment Corp. Report
was upgraded at Banc of America/Merrill Lynchto Neutral from Underperform. Improvements in interest rates support a more constructive near-term view, Bank of America/Merrill Lynch said. Price target raised to $25.
Anadarko Petroleum
(APC) - Get Anadarko Petroleum Corporation Report
was downgraded from Outperform to Market Perform at FBR Capital Markets. Valuation call, based on a $60 price target.
DR Horton
(DHI) - Get D.R. Horton Inc. Report
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was upgraded to Buy at Deutsche Bank. Housing bottom is nearly complete.
Hatters Financial
(HTS)
upgraded at Banc of America/Merrill Lynch to Neutral from Underperform. Improvements in interest rates support a more constructive near-term view, Bank of America/Merrill Lynch said. Price target raised to $27.
Medtronic
(MDT) - Get Medtronic plc. Report
downgraded at JP Morgan from Overweight to Neutral. Estimates look too high, given headwinds in the spine business.
Teco Energy
(TE)
downgraded at Banc of America/Merrill Lynch to Neutral from Buy. Shares appropriately valued unless coal prices go higher, Bank of America/Merrill Lynch said. Maintain $17 price target.
Tesla Motors
(TSLA) - Get Tesla Inc. Report
rated new Overweight at JP Morgan. $25 price target. Model S vehicle could be a game-changer in 2012.
Tesla Motors
initiated with an Equal-weight rating at Morgan Stanley. Company lacks near-term catalysts.
Tesla Motors
was initiated with a Hold rating at Deutsche Bank. $17 price target. Stock appears fully valued, but the company can successfully compete over the long term.
Veeco Instruments
(VECO) - Get Veeco Instruments Inc. Report
downgraded at Canaccord Genuity from Buy to Hold. $39 price target. Company is due for a rest in cyclical demand.
Whole Foods
( WFMI) upgraded at Canaccord Genuity from Hold to Buy, Canaccord Genuity said. $47 price target. Recent pullback has created a buying opportunity.
Xcel Energy
(XEL) - Get Xcel Energy Inc. Report
upgraded at Banc of America/Merrill Lynch to Buy from Neutral. XEL is one of the highest quality, lowest risk regulated utilities in our coverage universe, Bank of America/Merrill Lynch said. Price target raised by a dollar to $24.
STOCK COMMENTS / EPS CHANGES
Apple
(AAPL) - Get Apple Inc. Report
shares now seen reaching $375, according to Needham & Co. iPad and Mac sales continue to accelerate. Buy rating.
AMN Healthcare
(AHS)
price target trimmed at Citigroup to $7 from $9.50. MedFinders transaction is likely to increase AHS' earnings by 8%, Citigroup said. Reiterate Hold rating.
Brookfield Asset Management
(BAM) - Get Brookfield Asset Management Inc. Report
2010 and 2011 EPS estimates reduced to 85 cents and $1.03, respectively. In second-quarter report, cash flow numbers missed estimates, Credit Suisse said. Maintain Outperform rating.
Colgate-Palmolive
(CL) - Get Colgate-Palmolive Company Report
price target reduced to $79 from $84 at Citigroup. Expecting CL to ramp up investment spending to accelerate top line growth, Citigroup said. Maintain Hold rating.
Consolidated Edison
(ED) - Get Consolidated Edison Inc. Report
shares now seen reaching $43.25, according to Morgan Stanley. Estimates also increased, to match the company's new guidance. Underweight rating.
Harman International
(HAR)
price target cut to $38 from $44 on disappointing fourth-quarter earnings, Credit Suisse said. Maintain Neutral rating.
Hewitt Associates
( HEW) estimates cut, target boosted at Goldman Sachs.Shares of HEW now seen reaching $46, according to Goldman Sachs. On the other hand, estimates were lowered because of lower margins and a higher share count. Neutral rating.
Hewlett-Packard
price target cut at Barclays to $55 from $60. As H-P CEO Mark Hurd steps down, interim CEO Cathie Lesjak should buy back stock, Barclays said. Reiterate Overweight rating.
Nordstrom
(JWN) - Get Nordstrom Inc. Report
price target trimmed at Barclays to $40 from $42 on lower earnings estimates. Reiterate Equal Weight rating.
Kohl's
(KSS) - Get Kohl's Corporation Report
price target cut at Barclays to $65 from $68 on lower 2011 earnings outlook. Maintain Overweight rating.
Magna International
(MGA) - Get Magna International Inc. Report
price target raised to $100 from $92 on strong second-quarter earnings at Bank of America/Merrill Lynch. Maintain Buy rating.
NYSE Euronext
(NYX)
estimates reduced through 2011 at BMO Capital Markets. Company is facing lower volume trends. Market Perform rating.
Prudential Financial
(PRU) - Get Prudential Financial Inc. Report
target was boosted to $63 at Deutsche Bank. Company could see a higher multiple, given its earnings momentum. Hold rating.
Southwestern Energy
(SWN) - Get Southwestern Energy Company Report
estimates were raised through 2012 at Goldman Sachs. Company seeing higher Fayetteville production. Neutral rating and $45 price target.
Target
(TGT) - Get Target Corporation Report
price target lowered at Barclays to $60 from $65 on weaker earnings estimates. Reiterate Overweight rating.
Venoco
( VQ) price target raised at Credit Suisse to $17 from $16 to reflect higher value for the company's Monterey Shale position. Reiterate Neutral rating.
This article was written by a staff member of TheStreet.
