Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.

Author:: TSC Staff
Publish date:: Apr 17, 2006 9:16 AM EDT

CHANGE IN RATINGS

Abercrombie

upgraded at Prudential: Prudential said it is upgrading ANF to an Overweight rating as April comps will likely benefit from Easter shirt, improved weather, and increased newness. Target price raised to $69.

Avnet

upgraded at JP Morgan: AVT was upgraded from Neutral to Overweight, JP Morgan said. Estimates also raised, as the company is cutting costs and should experience a seasonal sales increase.

Capital One

downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on COF to Equalweight from Overweight, pending additional analysis.

Cooper Cos.

rated new Neutral at JP Morgan: Coverage of COO was initiated with a Neutral rating, JP Morgan said. Company should see solid long-term growth, but not likely to begin for 5-6 quarters. Execution remains a near-term risk.

Genentech

upgraded at CIBC: DNA was upgraded from Sector Perform to Outperform, CIBC said. $99 price target. Expect more positive clinical data and key FDA approvals before the end of the year.

Fisher Scientific

added to Focus List at Merrill: Merrill said it is adding FSH to its Focus 1 List. Based on a combination of fundamental strength and an attractive valuation.

Molecular Devices

downgraded at Baird: Baird said it was downgrading MDCC from Outperform to Neutral on valuation. Maintained $35 target.

Massey Energy

downgraded at JP Morgan: MEE was downgraded from Overweight to Neutral, JP Morgan said. Estimates also cut, based on lower selling price and delays is restarting the Aracoma mine.

Nelnet

downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on NNI to Equalweight from Overweight. Intrigued by the company's plans to diversify further into education.

PNC Financial

upgraded at Keefe, Bruyette: PNC was upgraded from Market Perform to Outperform, Keefe, Bruyette & Woods said. Company is well positioned to drive strong earnings growth and outperform its peers over the next several quarters.

Red Hat

downgraded at Goldman: Goldman said it is lowering its rating on RHAT to Inline from Underperform. Collision course with ORCL and IBM.

STOCK COMMENTS / EPS CHANGES

Adtran

target, estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on ADTN from $1.35 and $1.55 to $1.30 and $1.45 and the target from $34.50 to $30. Maintained Buy rating.

Ashland

target raised at Jefferies: Jefferies said it was raising the target on ASH by $4 to $81 on R&D pipeline. Maintained Buy rating.

Commerce Bancorp

target raised at Morgan Stanley: Morgan Stanley said it is increasing its target on CBH to $26 a share from $25 a share. Bond portfolio extension leading to lower NIM in 2006.

Cephalon

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on CEPH from $3.20 and $3.23 to $3.40 and $3.48 and the target by $2.50 to $62.50 on approval of Vivitrol. Maintained Hold rating.

Check Point Software

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on CHKP to $1.37 a share from $1.36 a share. Maintained Overweight rating.

Chicago Merc.

target raised at Morgan Stanley: Morgan Stanley said it is increasing its target price on CME to $4.95 from $4.75 a share. Maintained Overweight rating.

Copa Holdings

estimates cut at Goldman: Goldman said is it lowering its estimates on CPA for the full year to $2.15 a share from $2.25 a share. Maintained Inline rating.

Compuware

estimates cut at Piper:Piper said it is cutting its 2007 estimates on CPWR by a penny to 45 cents a share.

Dobson Comm.

target, estimates raised at Jefferies: Jefferies said it was raising FY 2007 EPS estimates on DCEL by a penny to 5-cents and raising the target from $8.75 to $10.50 following meeting with management. Maintained Buy rating.

Forest Labs.

target, estimates raised at Jefferies: Jefferies said it was raising FY 2007 EPS estimates on FRX from $2.46 to $2.59 and raising the target by $3 to $44 on improving fundamentals. Maintained Hold rating.

Infosys Tech.

target, estimates raised at Jefferies: Jefferies said it was raising FY 2007 EPS estimates on INFY by 2-cents to $2.52 and the target by $3 to $85 on March quarter results. Maintained Buy rating.

Lexmark

target price lowered at UBS:UBS said it is lowering its target price on LXK to $51 from $54. Cites caution in fundamentals and competition. Maintained Neutral rating.

New York Times

outlook lowered at Goldman: Goldman said it is lowering its estimates on NYT for the full year to $1.60 a share from $1.67 a share. Maintained Inline rating.

Qualcomm

estimates raised at Piper: Piper said it is raising its 2007 estimates on QCOM by a nickel to $1.89 a share due to strong CDMA trends. Maintained Outperform rating.

Rowan

outlook lowered at Goldman: Goldman said it is lowering its estimates on RDC for the full year to $3.70 a share from $3.81 a share. Maintained Inline rating.