CHANGE IN RATINGS
American Eagle Outfitters
upgraded at CSFB: CSFB said that it is upgrading its rating on AEOS to Neutral from Underperform. Believes momentum will enable company to achieve good results despite difficult comparisons. Raised target price to $32 from $24.
upgraded at Deutsche: AMX was upgraded from Hold to Buy, Deutsche Bank said. $39 price target. Recent sell off has created a good buying opportunity. Company can post strong growth for the next few years.
downgraded at CIBC: CIBC said it is downgrading APPB to Sector Performer from Sector Outperform. Believes shares will trade sideways over the next few quarters. Lowered target price to $22 from $26.
upgraded at CSFB: CSFB said that it is upgrading its rating on ASF to Outperform from Neutral based on valuation after shares declined 35% over the past month. Maintained $48 target price.
upgraded at Goldman: Goldman said it is upgrading BMC to Inline from Underperform. The company is beginning to walk the walk.
upgraded at Piper: Piper said it is upgrading BMC to an Outperform rating. Valuation is attractive and turnaround is progressing better than expected.
downgraded at Goldman: Goldman said it is lowering its rating on CA to Underperform from Inline. Goldman cites current headwinds.
upgraded at Piper: Piper said it is upgrading CC to an Outperform rating and raising its target price to $40. Combination of HDTV cycle and turnaround can drive upside over next 12 months.
upgraded at CSFB: CSFB said that it is upgrading its rating on COH to Outperform from Neutral. Believes expectations have become overly pessimistic. Raised target price to $40 from $35.
upgraded at UBS: UBS said that it is upgrading its rating on CRM to Neutral from Reduce. Believes current stock price is reflective of the company's competitive landscape. Raised target price to $31 from $27.
downgraded at Citigroup: FTD was downgraded from Buy to Hold, Citigroup said. Valuation call, as the risk/reward is more neutral now. Stock has caught up with solid Mother's Day performance. $14 price target.
upgraded at BB&T: GCO was upgraded from Hold to Buy, BB&T Capital said. Valuation call, based on a $45 price target. Company should also benefit from fashion shift toward more casual and athletic styles.
upgraded at Prudential: Prudential said it is upgrading JBLU to an Overweight rating as 2006 likely to still be profitable, and which should allow JBLU to outperform other airline names.
upgraded at Merrill: MEL was upgraded from Neutral to Buy, Merrill Lynch said. $41 price target. New CEO is finding leverage in the business model, and fee income trends remain strong
downgraded at CIBC: MGA was downgraded from Outperform to Sector Perform, CIBC said. Weak light vehicle sales at GM and DCX, along with production cuts at GM and Ford, will weigh on earnings. $88 price target.
upgraded at Baird: MOGN was upgraded from Neutral to Outperform, Robert Baird said. $25 price target. Company seeing positive physician feedback and other indications. Estimates also raised, as Aloxi may see less generic pressure.
downgraded at CIBC World Markets: CIBC said it is downgrading OSI to Sector Performer from Sector Outperformer due to continued soft sales and EPS pressure. Noted likelihood that OSI will need large-scale remodeling effort. Lowered 2006 earnings estimates by 6 cents to $1.81 and cut price target to $40 from $47.
upgraded at Weisel: SIRF was upgraded from Peer Perform to Outperform, Thomas Weisel said. Company has leverage to under-penetrated and high-volume markets. Stock has also pulled back to an attractive level-- trading at 27 times 2007 earnings, and on track to generate 40%-plus annual growth.
upgraded at Bear Stearns: Bear Stearns said it is upgrading SNDK to Outperform from Peer Perform. Expects a more benign pricing environment in 3Q and flash market turning to undersupply in 2H of the year. Establishes $68 target price.
upgraded at Lehman: TXN was upgraded from Equal-weight to Overweight, Lehman Brothers said. $39 price target. Taking advantage of weakness ahead of Thursday's mid-quarter update. Macro risks remain, though the company should outperform its peers in the near term.
W-H Energy Services
downgraded at Deutsche Bank: Deutsche Bank said it is downgrading WHQ to Hold from Buy based on valuation concerns. Cautioned that recent surge in share price more likely a function of market forces than fundamental shift. Price target remains $55.
STOCK COMMENTS / EPS CHANGES
outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on GSF for the full year 2007 to $7.75 a share from $7.64 a share. Maintained Underweight rating.