Analysts' Actions: A Daily Roundup of Street Research
CHANGE IN RATINGS
Barnes & Noble
downgraded at Jefferies: Jefferies said it was downgrading BKS from Buy to Hold on valuation. Target raised by $3 to $47.
Barnes and Noble
estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on BKS to $2.35 from $2.22 following positive quarterly results. Maintained Underperform rating.
CenterPoint Energy
downgraded at Prudential: Prudential said it is downgrading CNP to an Underweight rating as issues such as rates and taxes will result in underperformance.
Leap Wireless
upgraded at Merrill: Merrill said is increasing its rating on LEAP to Neutral from Sell. Strong outlook on growth.
Mercury Interactive
upgraded at Piper: Piper said it is upgrading MERQ to an Outperform rating as fundamentals are intact and issues such as executive departures and SEC investigation don't have much impact on core business.
Myriad Genetics
rated new Buy at UBS: UBS said it is reinstating MYGN with a Buy rating. Cites core diagnostics business is driving expansion. Sets $35 target price.
PMC-Sierra
target raised at Merrill: Merrill said it is increasing its target on PMCS to $15 a share from $11.50 a share. Not looking for many surprises in the near-term. Maintained Buy rating.
Synagro Technologies
downgraded at CIBC: CIBC said it was downgrading SYGR from Sector Performer to Sector Outperformer and lowered the target by 50-cents to $5 on increased costs and project delays.
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Tribune
downgraded at Deutsche Bank: Deutsche Bank said it was downgrading TRB from Hold to Sell and lowered the target by $2 to $26 following February sales results.
Verizon
upgraded at SG Cowen: SG Cowen said it is upgrading VZ to Outperform from Neutral. Sees 20+ percent outperformance potential relative to the market over next 12 months.
Waste Management
added to Focus List at JP Morgan: WMI was added to the Focus List, JP Morgan said. Industry contacts and macro outlook point to a strong results through 2007. Overweight rating and $42 price target.
W&T Offshore
target raised at Jefferies: Jefferies said it was raising the target on WTI by $4 to $42 on early exploration success. Maintained Buy rating.
STOCK COMMENTS / EPS CHANGES
Barrick Gold
estimates raised at Prudential: Prudential said it is raising its 2006 estimates on ABX by 7 cents to 74 cents a share to account for merger with Placer Dome and planned sale of certain assets to Goldcorp.
AIG
target price raised at CSFB: CSFB said it is raising its target price on AIG to $80 from $77. Says company remains one of its best large-cap ideas. Maintained Outperform rating.
Bear Stearn's
estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on BSC for 2006 to $13.02 a share from $11.30 a share. Maintained Equalweight rating.
Bear Stearns
estimates raised at UBS: UBS said it is raising its 2006 EPS estimates on BSC to $12.25 from $11 following strong quarter results. Raised target price to $145 from $136.
Citigroup
estimates raised at Piper: Piper said it is raising its 2006 estimates on C by a nickel to $4.15 a share to reflect higher expected capital markets income. Maintained Market Perform rating.
Cisco
estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on CSCO for the full year to 90 cents a share from 89 cents a share. Target raised to $26 a share from $23 a share. Maintained Overweight rating.
Cintas
estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on CTAS for 2006 to $1.95 a share from $1.94 a share. Maintained Equalweight rating.
Fifth Third
outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on FITB for 2006 to $2.81 a share from $2.80 a share. Maintained Underweight rating.
MSC
target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on MSM from $1.94 and $2.28 to $1.97 and $2.35 respectively and target raised by $8 to $56 following announced plans to buy J&L Industrial Supply. Maintained Buy rating.
Norfolk Southern
outlook raised at JP Morgan: JP Morgan said it is raising its 2007 EPS estimates on NSC by 10 cents to $3.80 citing stronger yields and greater margin expansion. Raised target price to $63 from $52.
Petco Animal Supplies
estimates lowered at CSFB: CSFB said it is lowering its 2007 EPS estimates on PETC by 2 cents to $1.33. Does not believe valuation deserves a premium to its expected growth rate. Maintained Underperform rating.
E.W. Scripps
estimates lowered at Goldman: Goldman said it is lowering its 2006 EPS estimates on SSP by 11 cents to $2.03 to account for acquisition. Sees shares breaking out past $55 range in the next 12 months. Maintained Outperform rating.
E.W. Scripps
estimates lowered at UBS: UBS said it is lowering its 2006 EPS estimates on SSP by 10 cents to $2.10 to account for recent acquisition. Lowered target price to $53 from $54.
Wachovia
estimates raised at UBS: UBS said it is raising its 2006 EPS estimates on WB by 5 cents to $4.75. Believes stock trades at a discount vs. group. Maintained Buy rating.
