CHANGE IN RATINGS
upgraded at Piper: Piper said it is upgrading AQNT to an Outperform rating as channel checks confirm strength of online advertising market.
upgraded at Deutsche: CPO was upgraded from Hold to Buy, Deutsche Bank said. $32 price target. Sources suggest that sweetener pricing could post double-digit growth in 2007, which would boost earnings.
upgraded at Baird: FFIV was upgraded from Neutral to Outperform, Robert Baird said. Channel checks suggest that U.S. enterprise spending has grown sequentially. $57 price target.
upgraded at JP Morgan: GNW was upgraded from Neutral to Overweight, JP Morgan said. Company is posting stable results, and its ROE is improving. Concerns also easing about exposure to a potential housing bubble.
upgraded at UBS: UBS said it is upgrading INTC to Buy from Neutral on expectations for positive margin trends. Raised target price to $23 from $21.
rated new Neutral at UBS: UBS said it is initiating coverage on MDRX with a Neutral rating. Cites favorable reviews from third party ratings services but sees pricing and competitive threats in the long-term.
downgraded at Weisel: MIK was downgraded from Outperform to Peer Perform, Thomas Weisel said. Uncertainty around the company's stock options practice will weigh on the shares. News could delay sales process or maybe reduce the eventual takeout premium.
upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on MNST to Overweight from Equalweight. Risk/reward is now compelling.
upgraded at JP Morgan: NAFC was upgraded from Underweight to Neutral, JP Morgan said. EBITDA continues to decline, though the stock's valuation appears to already be factoring this in. New CEO appointment is also a positive.
downgraded at CSFB: CSFB said it is downgrading PETM to Neutral from Outperform based on company lowering prices to be more competitive. Lowered target price to $26 from $29.
upgraded at AG Edwards: WTR was upgraded to Buy, AG Edwards said. Valuation call, as the stock is down 29% since late February. $25 price target.
STOCK COMMENTS / EPS CHANGES
Bad Bath & Beyond
target raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on BBBY to $48 a share from $45 a share. Maintained Equalweight rating.
cut from Focus List at JP Morgan: CAH was removed from the Focus List, JP Morgan said. Stock has reached its time limit, though the company has the potential to deliver superior earnings growth. Overweight rating.
estimates raised at Prudential: Prudential said it is raising its 2006 estimates on GM by 26 cents to $1.09 a share to account for better-than-expected production schedule and more positive mix. Maintained Overweight rating.
estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on NCC for the full year to $3.06 a share from $2.99 a share. Maintained Equalweight rating.
STRATEGY CALLS / MARKET CALLS
Piper cuts target prices on Auto Parts Dealers:Piper said it is cutting its target prices on AAP and ORLY due to challenging macro environment for low-income consumer.
Morgan Stanley raises estimates on brokers:Morgan Stanley said it is increasing its estimates on GS, LEH, and BSC for 2006. These revisions reflect recently reported results.
Goldman bullish on materials stocks:Goldman said it is increasing its rating on MLM and VMC to Outperform from Inline. 40% to 45% of demand is derived from infrastructure construction.