Credit Suisse First Boston made some comments about IBM's (IBM) fortunes this morning and the crystal ball wasn't so kind.
"We continue to believe that IBM cannot avoid deteriorating industry fundamentals this quarter, which extend to the enterprise and commercial markets," wrote analyst Kevin McCarthy. "As a result we believe there is downside to the Street's $26.75 billion revenue expectation for Q4; we currently estimate $25.75 billion."
reduced earnings estimates on a wide range of retailers.
were all affected by the change.
BJ's Wholesale Club
: UP to intermediate-term buy from accumulate at Merrill.
: UP to buy from accumulate at Merrill, price target $50, added to "Merrill Lynch Focus One" list.
General Growth Properties
: UP to strong buy from buy at
: UP to buy from hold at UBS Warburg.
Simon Property Group
: UP to strong buy from buy at UBS Warburg.
: DOWN to accumulate from strong buy at
: DOWN to hold from strong buy at Prudential.
: DOWN to intermediate-term neutral, long-term accumulate from intermediate-term accumulate, long-term buy at Merrill.
: DOWN to accumulate from buy at Merrill, price target $35.
: DOWN to hold from strong buy at
: DOWN to hold from accumulate at Prudential.
: NEW intermediate-term neutral. long-term accumulate at Merrill.P/>
: NEW buy at CSFB; price target: $32.
Bone Care International
: NEW strong buy at Prudential; price target: $35.
: NEW buy at UBS Warburg; price target: $35.
: NEW intermediate-term accumulate, long-term buy at Merrill; price target: $60.
: NEW buy at
Salomon Smith Barney
; price target: $65.
: NEW buy at UBS Warburg; price target: $28.
: NEW strong buy at Merrill; price target: $35.
Prudential Securities upped its ratings on a bunch of oil companies, citing attractive valuations. Here are the crude folks affected:
- British Petroleum (BP) : accumulate from hold.
Conocoundefined: strong buy from accumulate.
Phillips (P) : strong buy from hold.
Texaco (TX) : strong buy from accumulate.
Royal Dutchundefined: accumulate from hold.
ExxonMobil (XOM) : accumulate from hold.
ING Barings initiated coverage on the airline industry:
- AirTran (AAI) NEW buy.
AmSurgundefined NEW strong buy.
Atlantic Coast Airlines (ACAI) NEW buy.
SkyWest Airlines (SKYW) NEW strong buy.
Lehman Brothers initiated coverage on a half-dozen stocks in the personal care sector, all with neutral ratings. Here are the companies affected: