Analysts' Actions: A Daily Roundup of Street Research
CHANGE IN RATINGS
Digitas
coverage initiated at Jefferies: Jefferies said it is initiating coverage of DTAS with a Buy rating. Point to high service quality, strong management, and good earnings visibility. Price target of $15.
Dexcom
downgraded at Cowen: DXCM was downgraded to Neutral, Cowen said. Reimbursement of CGM products should be strong, though channel checks suggest that coverage will be sparse to begin with.
Forest Oil
upgraded at UBS: UBS said it is upgrading FST to Buy from Neutral based on valuation. Maintained $41 target price.
Lehman Bros.
upgraded at Sandler O'Neill: Rating on LEH was upgraded from Hold to Buy, Sandler O'Neill said. Estimates also raised, as the company should be able to carry its recent momentum into the second half of the year. Only weakness has been in equity trading $75 price target.
Allscripts
coverage initiated at Goldman: Goldman said it is initiating coverage on MDRX with an Inline rating.
NAVTEQ
upgraded at UBS: UBS said it is upgrading NVT to Buy from Neutral. Sees bumpy road in near-term but risk/reward more favorable. Maintained $53 target price.
Omnicare
coverage initiated at Goldman: Goldman said it is initiating coverage on OCR with an Outperform rating.
Tech Data
upgraded at JP Morgan: TECD was upgraded from Underweight to Neutral, JP Morgan said. Fundamentals may lag peers in the near term. Stock is also within 20% of tangible book value.
STOCK COMMENTS / EPS CHANGES
Bowater
outlook raised at Goldman: Goldman said it is lowering its estimates on BOW for the full year to a loss of 5 cents a share from a loss of 45 cents a share.
Chesapeake
outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on CHK for the full year to $3.34 a share from $3.22 a share. Maintained Overweight rating.
Comverse
outlook raised at Goldman: Goldman said it is raising its 2007 estimates on the CMVT to 72 cents a share from 69 cents a share. Maintained Inline rating.
Hologic
estimates raised at Jefferies: Jefferies said it is upping its 2006 estimates on HOLX to $1.03 from $0.94 after the company raised sales guidance. Reiterated Buy rating and $62 price target.
Sunoco
outlook boosted at Goldman: Goldman said it is increasing its estimates on SUN for the full year to $9.21 a share from $7 a share. Maintained Inline rating.
Valero
outlook raised at Goldman: Goldman said it is boosting VLO estimates for the full year to $10.07 a share from $8.05 a share. Maintained Inline rating.
STRATEGY CALLS / MARKET CALLS
Homebuilders estimates cut at UBS:UBS said it is lowering its estimates on Homebuilders DHI, KBH, PHM, BZH, MTH, and SPF. Says downturn appears closer to the end.
