Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.

Author:: TSC Staff
Publish date:: Mar 29, 2006 10:01 AM EST

CHANGE IN RATINGS

American Eagle Outfitters

upgraded at A.G. Edwards: A.G. Edwards said it was upgrading AEOS from Hold to Buy on EPS growth deceleration past and overly conservative consensus estimates. Maintained $38 target.

Chubb

upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on CB to Equalweight from Underweight. The stock has been a solid absolute and a relative in-line performer to its coverage space over the past year.

GlaxoSmithKline

downgraded at Deutsche Bank: deutsche bank said it is downgrading GSK to Hold from Buy. Believes shares are 14% overvalued relative to sector.

IHS

upgraded at Piper: Piper said it is upgrading IHS to an Outperform rating based upon excellent operating performance. Maintained Outperform rating.

MedImmune

coverage initiated at Prudential: Prudential said it is initiating coverage on MEDI with an Overweight rating and a $45 target price.

Mellon Financial

upgraded at Piper: Piper said it is upgrading MEL to a Market Perform rating due to market appreciation, positive asset flows, and senior management changes.

Nalco

upgraded at J.P. Morgan: JP Morgan said it is upgrading NLC to Overweight from Neutral. Believes its well positioned to meet or exceed Consensus estimates in 2006.

Outback Steakhouse

downgraded at J.P. Morgan: J.P. Morgan said it was downgrading OSI from Overweight to Neutral on valuation and limited visibility.

Omnivision

downgraded at Piper: Piper said it is downgrading OVTI to a Market Perform rating based on valuation and competitive concerns.

PHH

coverage initiated at Morgan Stanley: Morgan Stanley said it is initiating coverage on PHH with an Overweight rating and a $38 target price.

Sun Microsystems

upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on SUNW to Overweight from Equalweight rating. Target price is $6 a share.

STOCK COMMENTS / EPS CHANGES

Accenture

outlook lowered at UBS: UBS said it is lowering its 2006 EPS guidance on ACN to $1.33 from $1.58 after F2Q results fell short of estimates. Lowered target price to $38 from $39.

Foundry Networks

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on FDRY by 3 cents to 44 cents as product thesis continues to play out. Raised target price to $21 from $17.

General Dynamics

target raised at Jefferies: Jefferies said it was raising the target on GD from $67.50 to $70 following the 2-for-1 split of March 24. Maintained Buy rating.

Lennar

estimates lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on LEN for 2006 to $9.35 a share from $9.44 a share. Target cut to $69 a share from $70 a share. Maintained Overweight rating.

Merrill Lynch

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on MER by a nickel to $6.25 a share due to expectations for a strong first quarter. Maintained Overweight rating.

National Oilwell Varco

added to Focus List at CSFB: CSFB said it is adding NOV to its Focus List. Believes shares have significantly underperformed the group year to date. Sets $87 target price.

Red Hat

estimates raised at Jefferies: Jefferies said it was raising FY 2007 EPS estimates on RHAT by 5-cents to $0.51 following strong February quarter results. Maintained Buy rating and $34 target.

Red Hat

estimates raised at UBS: UBS said it is raising its 2007 EPS estimates on RHAT by 5 cents to 28 cents after upbeat F4Q results. Maintained Buy rating.

TIBCO

Software estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on TIBX by a penny to $0.29 and $0.35 respectively on strong fiscal Q1 results. Maintained Buy rating and $10 target.

Wendy's

outlook raised at UBS: UBS said it is raising its 2007 EPS on WEN to $3.53 from $3.40 based on value-creating moves. Raised target price to $75 from $69.