Analysts' Actions: A Daily Roundup of Street Research
CHANGE IN RATINGS
Eli Lilly
downgraded at Merrill Lynch: Merrill Lynch said it was downgrading LLY from Buy to Neutral on uncertainty in product news flow and risk/reward scenario.
Eli Lilly
downgraded at Friedman, Billings, Ramsey & Co.: Friedman, Billings, Ramsey & Co. said it was downgrading LLY from Market Perform to Underperform on decelerating growth. Maintained $53 target.
Manitowoc
upgraded at Deutsche Bank: Deutsche Bank said it is raising its rating on MTW to Buy. DCF valuation of $80 puts too much emphasis on a cyclical crane downturn that is unlikely to materialize until beyond 2009.
Aramark
downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on RMK to Equalweight from Overweight, based on valuation.
SiRF
downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on SIRF to Underweight from Equalweight. The estimates are getting harder to achieve.
US Steel
upgraded at CIBC: Rating on X was boosted from Underperform to Sector Perform, CIBC said. Estimates also raised to reflect recent price increases. New $64 price target.
STOCK COMMENTS / EPS CHANGES
Advanced America
estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on AEA for the full year to 88 cents a share from 94 cents a share. Remains Overweight citing risk/return that is still attractive.
Allergan
estimates cut at Goldman: Goldman said it is lowering its AGN estimates post 2006 guidance on the earnings calls. Maintained Inline rating.
TheStreet Recommends
Best Buy
target price raised at CSFB: CSFB said it is raising its target price on BBY to $59. Sees renewed focus on expenses to go with strong product cycle and growth drivers. Maintained Neutral rating.
DirecTV Group
estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on DTV for the full year to 88 cents a share from 80 cents a share.
eBay
estimates cut at Goldman: Goldman said it is lowering its estimates on EBAY for the full year to $1.03 a share from $1.04 a share. Maintained Outperform rating.
Global Payments
estimates lowered at CSFB: CSFB said it is lowering 2007 EPS estimates on GPN by 5 cents to $1.58. Sees potential slowing growth. Maintained Neutral rating.
Hilton Hotels
made top large cap pick at Deutsche Bank: Deutsche Bank said it has selected HLT as their top large cap pick, raising their target by $4 to $32 citing operating leverage and recent non-core asset sales. Maintained Buy rating.
j2 Global Comm.
estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on JCOM from $2.45 and $3.02 to $2.35 and $2.89 respectively following the filing of its 10-k last night. Maintained Buy rating and $51 target.
j2 Global Comm.
estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on JCOM from $2.45 and $3.02 to $2.35 and $2.89 respectively following the filing of its 10-k last night. Maintained Buy rating and $51 target.
Jones Apparel Group
target price raised at CSFB: CSFB said it is raising its target price on JNY to $38 from $30 after applying LBO model. Maintained Neutral rating.
Las Vegas Sands
outlook cut at Goldman: Goldman said it is lowering its estimates on LVS for 2007 to $1.85 a share from $2.35 a share. Remains one of its favorite names. Maintained Outperform rating.
Under Armour
estimates cut at Goldman:Goldman said it is lowering its estimates on UARM for the full year to 50-cents a share from 53 cents a share. Maintained Inline rating.
Walgreens
outlook lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on WAG for the full year 2006 to $1.71 a share from $1.72 a share. Maintained Overweight rating.
