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Analysts' Actions: A Daily Roundup of Street Research

Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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Who made what calls.

CHANGE IN RATINGS

Celadon

upgraded at BB&T: CLDN was upgraded from Hold to Buy, BB&T Capital said. $27 price target. Recent pullback in the truckload contest has created a good buying opportunity.

CSX

upgraded at Bear: CSX was upgraded from Peer Perform to Outperform, Bear Stearns said. Estimates also raised, as recent network investments have paid off. Coal volumes also increasing. $71 price target.

Equinix

downgraded at Citigroup: EQIX was downgraded to Sell, Citigroup said. Stock is already more than pricing in value in the business model. $52 price target.

Gap

upgraded at Jefferies: Jefferies said it was upgrading GPS from Hold to Buy and raising the target by $6 to $23 on the shakeout of weak holders and projection of improved trends.

Medtronic

upgraded at Cowen: MDT was upgraded to Outperform, SG Cowen said. Stock can gain at least 15% over the next 12 months. Company will likely not see as big of an effect from new Medicare reimbursement rates.

Navigators Group

downgraded at CSFB: CSFB said it is downgrading NAVG to Neutral from Outperform based on valuation. Maintained $51 target price.

Newmont Mining

downgraded at Goldman: Goldman said it is lowering its rating on NEM to Inline, though it is still attractive.

Pioneer Natural

downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on PXD to Underweight from Equalweight. Stock has already underperformed year to date.

Radware

downgraded at CIBC: CIBC said it is downgrading RDWR to Sector Perform from Sector Outperform. Cites increased competition from Cisco.

Radio Shack

downgraded at Prudential: Prudential said it is downgrading RSH to a Neutral Weight rating due to choppy short-term outlook. Target price lowered to $20.

Sandisk

downgraded at Goldman: Goldman said it is lowering its rating on SNDK to Underperform from Inline. NAND prices due to excessive supply will drive declining fundamentals over the coming quarters.

Valero Energy

downgraded at Goldman: Goldman said it is lowering its rating on VLO to Inline from Outperform.

Zumiez

downgraded at Wachovia Securities: Wachovia Securities said it was downgrading ZUMZ to Market Perform on valuation. Maintained $56 - $59 valuation range.

STOCK COMMENTS / EPS CHANGES

Abbott Laboratories

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on ABT to $2.82 a share from $2.84 a share. Target price remains $47 a share. Maintained Equalweight rating.

Commerce Bancorp

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on CBH for the full year to $1.66 a share from $1.68 a share. Maintained Underweight rating.

Comerica

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on CMA to $4.85 a share from $4.90 a share. Maintained Equalweight rating.

Diamond Offshore

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its target price to $105 a share from $96 a share.

Healthsouth

target raised at Jefferies: Jefferies said it was raising the target on HLSH by 50 cents to $4.50 on conference call discussing 10-K. Maintained Hold rating.

Motorola

estimates raised at Piper: Piper said it is raising its 2006 estimates on MOT by 3 cents to $1.25 a share due to strong RAZR sales. Maintained Market Perform rating.

Microsoft

estimates raised at Goldman: Goldman said it is lowering its estimates on MSFT to $1.57 a share from $1.54 a share. A strategy to address GOOG, YHOO, and enhance growth. Maintained Outperform rating.

M&T Bank

estimates lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on MTB for the full year to $7.50 a share from $7.55 a share. Maintained Overweight rating.

Novellus Systems

outlook lowered at UBS: UBS said it is lowering its 2006 EPS estimates on NVLS to $1.05 from $1.20 as product momentum likely slows. Lowered target price to $25 from $30.

Research in Motion

target price raised at UBS: UBS said it is raising its target price on RIMM to $110 from $97. Believes replacement rate looks conservative. Maintained Buy rating.

Suntrust

estimates cut at Piper:Piper said it is cutting its 2006 estimates on STI by 2 cents to $6.03 a share due to higher expenses. Maintained Market Perform rating.

Steel Technologies

estimates lowered at Goldman: Goldman said it is lowering its estimates on STTX for the full year to $1.05 a share from $1.60 a share. Maintained Underweight rating.

Sun Micosystems

target price raised at UBS: UBS said it is raising its target price on SUNW to $5.25 from $4.35. Despite significant concerns, sees potential. Maintained Neutral rating.

TETRA Tech.

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on TTI from $2.20 and $2.30 to $2.34 and $2.80 respectively and the target by $13 to $56 on recent acquisitions and robust market conditions. Maintained Buy rating.

United Rentals

target price raised at UBS: UBS said it is raising its target price on URI to $42 from $40 to reflect a reduced level of uncertainty related to accounting issue. Maintained Buy rating.