CHANGE IN RATINGS
upgraded at Prudential: Prudential said it is upgrading APD to an Overweight rating due to better than expected hydrogen demand. Target raised at $78.
estimates raised at Jefferies: Jefferies said it was raising FY 2007 EPS estimates on ASH by 5-cents to $4.20 on the announcement of the acquisition of a water treatment business. Maintained $77 target and Buy rating.
upgraded at Bear: BBI was upgraded from Underperform to Peer Perform, Bear Stearns said. $3.50 price target. Challenges still loom, though the company appears to be winning market share, and earnings will improve from store shutdowns.
upgraded at Jefferies: Jefferies said it was upgrading COGN from Hold to Buy and raising the target form $36.50 to $43 on Q4 results ahead of expectations.
downgraded at Prudential: Prudential said it is downgrading DOW to a Neutral Weight rating due to disappointing demand and little prospect of an inventory restocking cycle.
rated new Neutral at UBS: UBS said it is initiating coverage on ENER with a Neutral rating. Believes stock price reflects favorable trends. Sets $57 target price.
upgraded at Jefferies: Jefferies said it was upgrading FPL from Hold to Buy on valuation. Maintained $45 target.
Group 1 Automotive
downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on GPI to Underweight from Equalweight. $42 target price. Downgrade based on an above-average valuation versus that of its auto peers and its own history.
downgraded at UBS: UBS said it is downgrading HBAN to Reduce from Neutral. Believes risk/reward is not as compelling as it was. Maintained $28 target price.
downgraded at CIBC: OEH was downgraded from Outperform to Sector Perform, CIBC said. Stock is up 30% since November, and is already pricing in a couple of good quarters. $43 price target.
T. Rowe Price
upgraded at Friedman, Billings: TROW was upgraded from Market Perform to Outperform, Friedman, Billings Ramsey said. $85 price target. Recent upbeat meeting with management, suggests that assets should continue to flow in from institutions and third-party broker channels.
STOCK COMMENTS / EPS CHANGES
target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on BBY from $2.53 to $2.77 and the target by $4 to $55 on management's 2006 guidance ahead of consensus. Maintained Hold rating.
estimates raised at Piper: Piper said it is raising its 2007 estimates on BBY to $2.80 a share due to solid quarter and guidance. Maintained Outperform rating, target raised to $62. Top large cap pick.
outlook lowered at Goldman: Goldman said it is lowering its estimates on GOGN to $1.30 a share from $1.35 a share. Maintained Inline rating.
target price raised at CSFB: CSFB said it is raising its target price on GME to $52 from $47. Believes stock has most earnings potential upside in its group.
outlook raised at UBS: UBS said it is raising its 2007 EPS estimates on HMT by 3 cents to $1.92 after acquisition adjustments. Raised target price to $26 from $25.50.
estimates raised at UBS: UBS said it is raising its 2006 EPS estimates on MAS by 5 cents to $2.55. Believes favorable sales trend will continue. Maintained $40 target price.
estimates lowered at UBS: UBS said it is lowering its 2006 EPS estimates on MHK to $7.55 from $8.00 after negative 1Q guidance. The revision reflects weaker sales and margins. Maintained $109 target price.
estimates raised at Goldman: Goldman said it is raising its estimates on MLM for 2005 to $5.60 a share from $5.35 a share. Earnings momentum accelerates.
estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on PTEN from $3.49 and $3.89 to $3.75 and $4.15 respectively on Q4 results. Maintained $46 target and Buy rating.
Research In Motion
estimates cut at Goldman: Goldman said it is lowering its estimates on RIMM for the full year to $2.41 a share from $2.42 a share. Strong device sales to deliver near-term outperformance.