Analysts' Actions: A Daily Roundup of Street Research
CHANGE IN RATINGS
Alberto-Culver
coverage initiated at Goldman: Goldman said it is initiating coverage on ACV with an Inline rating.
Ameristar Casinos
upgraded at CIBC:CIBC said it is upgrading ASCA to Sector Outperformer from Sector Performer. Believes valuation is compelling. Raised target price to $29 from $28.
Bausch & Lomb
downgraded at JP Morgan: JP Morgan said it is downgrading BOL to Underweight and suspending estimates after the company announced to halt shipments of its flagship lens care product.
Bausch & Lomb
downgraded at Goldman: Goldman said it is lowering its rating on BOL to Underperform from Inline following expanded reports on Fusarium keratitis in the US.
Bausch & Lomb
downgraded at Piper: Piper said it is downgrading BOL to a Market Perform rating after company announced it would halt US shipments of ReNu with Moisture Lock solution.
Freeport McMoran
upgraded at Merrill: FCX was upgraded from Neutral to Buy, Merrill Lynch said. Company realizing higher selling prices for both copper and gold. $85 price target.
Inter-Tel
downgraded at JP Morgan: JP Morgan said it is downgrading INTL to Underweight from Neutral. Cites increasingly competitive market and difficult transitioning to IP-centric products.
International Paper
upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on IP to Overweight from Equalweight. Target raised to $42 a share from $29 a share.
Lincoln National
coverage initiated at Goldman: Goldman said it is initiating coverage of LNC with an Inline rating.
MeadWestvaco
downgraded at CSFB: CSFB said it is downgrading MWV to Neutral from Outperform based on valuation. Stock reached $30 target price.
Southern Copper
upgraded at Deutsche: PCU was upgraded from Hold to Buy, Deutsche Bank said. $105 price target. Average copper selling price is up 51%.
STOCK COMMENTS / EPS CHANGES
Alcoa
estimates raised at Prudential: Prudential said it is raising its 2006 estimates on AA by $1 to $2.75 a share due to higher expected aluminum prices. Target raised to $30.
Alcoa
estimates raised at CSFB: CSFB said it is raising its 2006 EPS estimates on AA to $2.60 from $2.16 following strong Q1 results. Raised target price to $40 from $37.
Alcoa
estimates raised at Goldman: Goldman said it is raising its estimates ion AA for the full year to $2.91 a share from $2.73 a share. Maintained Underperform rating.
Alcoa
estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on AA for the full year to $2.80 a share from $2.26 a share. Maintained Equalweight rating.
Best Buy
target price raised at UBS: UBS said it is raising its target price on BBY to $75 from $64. Sees strong earnings from improving demand for higher end CE products and more aggressive cost controls. Maintained Buy rating.
Bausch & Lomb
estimates cut at Bear Stearns: Bear Stearns said it was cutting FY 2006 EPS estimates on BOL from $3.82 to $3.42 on ReNu uncertainty. Maintained Market Weight rating.
Caterpillar
estimates raised at Prudential: Prudential said it is raising its 2006 estimates on CAT by 2 cents to $4.97 a share due to slightly better expectations for Q1. Maintained Neutral Weight rating.
Cablevision
estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates from $-0,24 to $-0.97 on $10 special dividend declaration. Maintained Buy rating and $34 target.
Emmis
estimates raised at Goldman: Goldman said it is increasing its loss estimates on EMMS for 2005 to 13 cents a share from 7 cents a share. Maintained Inline rating.
FirstEnergy
estimates raised at Jefferies: Jefferies said it was raising FY 2007 EPS estimates on FE from $3.90 to $4.10 following filing of Penn. rate plan. Maintained $60 target and Buy rating.
estimates raised at Piper:Piper said it is raising its 2006 estimates on GOOG by 8 cents to $8.82 a share due to increased confidence in Q1 revenue numbers. Maintained Outperform rating.
Louisiana-Pacific
estimates cut at Goldman: Goldman said it is lowering its estimates on LPX to $1.65 a share from $2.05 a share.
Micron Tech
estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on MU from $0.44 to $0.13 following fiscal Q2 results. Maintained Hold rating and $16 target.
Micron Tech
outlook cut at Goldman: Goldman said it is lowering its estimates on MU to 39 cents a share from 41 cents a share. Still generating operating losses despite diversification efforts.
NAVTEQ
target raised at Jefferies: Jefferies said it was raising the target on NVT by $2 to $60 on the announcement of a traffic radio data service and strong PND market growth. Maintained Buy rating.
Schnitzer
estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on SCHN for the full year ending Aug. 2006 to $3.42 a share from $3.39 a share. Inline quarter. Expects EPS rebound in Q3.
