CHANGE IN RATINGS
downgraded at Piper: Piper said it is downgrading BLUD to a Market Perform rating as American Red Cross opportunity is smaller than Street is expecting, and 2007 guidance likely to be below consensus.
downgraded at AG Edwards: Rating on CL was lowered from Buy to Hold, AG Edwards said. Stock is already pricing in a near-term recovery, after 18 months of struggles.
upgraded at Morgan Stanley: Morgan Stanley said it is upgrading HPQ to Equal-Weight-V due to improving returns on R&D and expected long-term increase in market share and profitability.
downgraded at CSFB: CSFB said that it is downgrading HSIC to Neutral from Outperform based on valuation. Cited shares have moved within 10% of $53 target price.
downgraded at UBS: UBS said it is downgrading LEA to Reduce from Neutral based on valuation. Maintained $20 target price.
upgraded at Morgan Stanley: Morgan Stanley said it is upgrading LTD to an Overweight rating based on operating performance at Express stores and continued momentum at Victoria's Secret. Established price target of $33.
rated new Peer Perform at Bear: Coverage of NYX was started with a Peer Perform rating, Bear Stearns said. Company is the largest equities exchange in the world, and still growing. Cost-cuts will boost earnings, though a lot of good news is already priced in.
upgraded at CSFB: CSFB said that it is upgrading PDCO to Outperform from Underperform. Sees improving results over next year coupled with more reasonable valuation. Raised target price to $39 from $29.
rated new Outperform at Goldman: Goldman said it is initiating coverage on RHD with an Outperform rating. Cites attractive financial characteristics and sees fair value in upper $60's to low $70's.
upgraded at Piper: Piper said it is upgrading TLB to an Outperform rating due to potential synergies of merger with J. Jill.
downgraded at Prudential: Prudential said it is downgrading TLB to an Underweight rating as destruction of shareholder value appears imminent. 2007 estimates cut $1.02 to 66 cents a share.
target price cut at CSFB: CSFB said it is lowering its target price on TLB to $25 from $28 after company said that second quarter earnings would fall below estimates. Maintained Neutral rating.
estimates raised at UBS: UBS said it is raising its 2007 EPS estimates on YUM to $3.21 from $3.19. Believes stock could be worth up to $91 a share by 2009. Maintained Buy rating.
STOCK COMMENTS / EPS CHANGES
estimates raised at Morgan Stanley: Morgan Stanley raised its 2007 estimates on BEAS to $0.55 based on solid Q1 results and increased Q2 revenue guidance. Maintained Overweight rating and price target of $17.
estimates raised at Goldman: Goldman said it is raising its 2007 EPS estimates on BEAS from 49 cents to 54 cents following solid 1Q results. Maintained Outperform rating.
estimates raised at Jefferies: Jefferies said it is raising its 2007 estimates by 5 cents to $0.52 based on strong Q1 results and improved Q2 outlook. Maintained Buy rating and raised price target to $15.
estimates raised at Piper: Piper said it is raising its 2007 estimates on BEAS by 6 cents to 51 cents a share due to solid Q1 performance. Telecom and APAC segments improving.
target price raised at CSFB: CSFB said it is raising its target price on CC to $35 from $29. Cites higher conviction in outlook following CC's comments on guidance. Maintained Outperform rating.
estimates cut at Jefferies: Jefferies said it is cutting 2007 estimates on CRM to $0.20 from $0.24 due to increasing expenses. Maintained a Hold rating on the shares.
estimates raised at Piper: Piper said it is raising its 2007 estimates on CRM by a penny to 19 cents a share to reflect higher revenue forecast following Q1 results. Maintained Market Perform rating.
estimates raised at Prudential: Prudential said it is raising its 2006 estimates on GG by 13 cents to $1.08 a share to reflect updated copper and gold price forecasts. Maintained Underweight rating.
estimates raised at Goldman: Goldman said it is raising its 2007 EPS estimates on HD by 3 cents to $3.08. Sees favorable risk/reward profile given depressed valuation. Maintained Outperform rating.
added to Focus List at JP Morgan: JCI was added to the Focus List, JP Morgan said. Estimates also raised, as the company has four clear areas that could provide near-term earnings upside. Overweight rating and $100 price target.
estimates raised at Morgan Stanley: Morgan Stanley raised its 2006 estimates on MO to $5.39 based on higher product prices in Japan and optimism regarding currency issues. Maintained Overweight rating.
added to Focus List at JP Morgan: OPWV was added to the U.S. Focus List, JP Morgan said. Stock is down 31% since reporting earnings last month, and is already pricing in a miss for the current quarter. On the other hand, recent channel checks show that demand is improving. Overweight rating and $22 price target.
estimates raised at Jefferies: Jefferies said it is raising its 2006 estimates on ROST by 4 cents to $1.64 based on stronger month-to-date comps and raised company guidance. Maintained Hold rating.
price target raised at Morgan Stanley: Morgan Stanley increased its price target on SFG to $52 from $51 due to increasing stock buybacks. Maintained Equal-Weight rating.
estimates raised at CSFB: CSFB said it is raising its 2006 EPS estimates on TOO to $2.10 from $1.91 following strong quarterly results. Raised target price to $40 from $34.
estimates cut at Prudential: Prudential said it is cutting its 2006 estimates on TRB by 2 cents to $2.06 a share due to weak revenues across core business segments in April. Maintained Neutral Weight rating.