Change in Ratings
( CRDN) was downgraded to Hold at Morgan Joseph. Estimates also cut, as the company will not ship any of its X-SAPI body armor this quarter, because of a customer contract protest.
Empire District Electric
was upgraded from Hold to Buy at Jefferies with an $18.50 price target. Company generates solid earnings and cash flow, supporting the 7.4% dividend yield.
Stock Comments / EPS Changes
Barclays Capital cut estimates for
, which is now seen earning $1.75 a share in 2009. Expect higher taxes to cut into demand. Equal-weight rating and $24 price target.
Barclays Capital also cut its 2009 estimate for
to $4.65. Expect higher taxes to cut into demand. Equal-weight rating and $53 price target.
Credit Suisse cut estimates for
, which is now expected to earn $1.18 a share in 2008. Company is idling one of its ethylene plants. Outperform rating and $21 price target.
This article was written by a staff member of TheStreet.com.