Analysts' Upgrades, Downgrades: Amgen
Change in Ratings
Ameren
(AEE) - Get Ameren Corporation Report
initiated equalweight at Lehman. Price target reduced to $41 from $54.
Akamai Technology
(AKAM) - Get Akamai Technologies, Inc. Report
upgraded at Jefferies to Buy from Hold. 2008 EPS estimates lowered to $1.64 from $1.66. Maintains $29 price target.
Alnylam
(ALNY) - Get Alnylam Pharmaceuticals, Inc Report
initiated as neutral at Bank of America with a price target of $34.50. BofA notes that the stock has traded up due to the increasing M&A activity in the sector, but BofA believes Alnylam management wishes to remain independant.
Amgen
(AMGN) - Get Amgen Inc. Report
initiated as a Buy at BofA with a $70 price target. Analyst bullish on denosumab for the treatment of both postmenopausal osteoporosis and for cancer-related bone loss.
Consol Energy
(CNX) - Get CNX Resources Corporation Report
upgraded at Credit Suisse to Outperform from Neutral based on valuation and pricing strength. Raised target price to $100 from $94.
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Cemex
(CX) - Get CEMEX SAB de CV Report
upgraded at Morgan Stanley to Equal-weight rating from Underweight. Price target dips to $27 from $29 while FY2008 eps estimates hold at $2.68.
Deere
(DE) - Get Deere & Company Report
downgraded at Goldman Sachs to Neutral from Buy based on relative value and potentially lower farmer income forecasts in late August. Note preference for recently underperforming
Parker Hannifin
(PH) - Get Parker-Hannifin Corporation Report
and remain positive on mining and ag fundamentals. Price target trimmed to $84 from $89.
Kindred Healthcare
(KND)
upgraded at Wachovia to Outperform due to expected earnings acceleration based on improved Medicare reimbursement, growth at new LTCH's, mix shift and margin expansion. Beleive guidance is conservative. Valuation range of $33 to $35.
Moody's
(MCO) - Get Moody's Corporation Report
upgraded by Lehman to an overweight from underweight. Price target raised to $45 from $32, FY2008 EPS raised to $2 from $1.82 and FY2009 EPS raised to $2.30 from $2.07.
Mobile Mini
(MINI) - Get Mobile Mini, Inc. Report
coverage reinstated at Oppenheimer with a Perform rating following completion of Mobile Storage merger. Remain cautious on macroeconomic trends.
Newmarket
(NEU) - Get NewMarket Corporation Report
upgraded at Oppenheimer to Outperform based on overreaction to Q2 earnings. Believe company is implementing price increases to account for higher raw materials cost. Price target at $65.
Nortel
(NT)
downgraded at Jefferies to Hold from Buy. 2008 EPS estimates lowered to 30 cents a share from 45 cents a share. Price target lowered to $7.25 from $11.
Oshkosh
(OSK) - Get Oshkosh Corp Report
downgraded at Credit Suisse to Neutral from Outperform. Despite cheap valuation, sees few catalysts over the next 12 months. Lowered target price to $16 from $27.
Parker Hannifin
upgraded at Goldman Sachs to Buy from Neutral based on valuation relative to consistently strong growth and margin results. Note potential accelerated buybacks and acquisition of Legris Group. Price target at $81.
Warner Music Group
(WMG) - Get Warner Music Group Corp. Class A Report
downgraded at Goldman Sachs to Sell from Neutral. See limited drivers for music industry as a whole and see difficulty for company to continue to increase market share. Price target at $8.
Stock Comments/EPS Changes
Aflac
(AFL) - Get Aflac Incorporated Report
price target lowered at UBS to $61 from $73. Maintains Neutral rating and 2008 EPS estimates of $3.95.
Bank of America
(BAC) - Get Bank of America Corp Report
numbers raised at Morgan Stanley. Price target jumps to $22 from $15 and FY09 eps estimates upped to $2.86 from $2.37. Reiterates Under-weight rating.
Biogen Idec
(BIIB) - Get Biogen Inc. Report
price target reduced to $53 from $58 at Lehman and maintains Equal-weight rating. FY2008 EPS unchanged, FY2009 EPS reduced to $3.79 from $4.16. Neurologist feedback suggests decreased use of Tysabri in both new patient adoption and existing patient attrition.
CAI International
(CAP)
numbers raised at RBC. Price target lifts to $16 from $15 and FY08 eps estimates upped to $1.39 from $1.35. Reiterates Sector Perform rating and Above Average risk qualifier.
Cigna
(CI) - Get Cigna Corporation Report
numbers lowered at UBS. Price target lowered to $50 from $54. 2008 EPS estimates lowered to $4.10 from $4.15. Maintains Buy rating.
Ingersoll-Rand
(IR) - Get Ingersoll Rand Inc. Report
numbers lowered at UBS. Price target lowered to $41 from $44. Fiscal 2009 EPS estimates lowered to $4 from $4.35. Maintains Neutral rating.
News Corp.
(NWS) - Get News Corporation Class B Report
numbers lowered at UBS. Fiscal 2009 EPS estimates lowered to $1.28 from $1.39. Price target lowered to $20 from $25. Maintains Buy rating.
NYSE Euronext
(NYX)
numbers lowered at UBS. 2008 EPS estimates lowered to $3.05 from $3.34. Price target lowered to $56 from $75. Maintains Buy rating.
Oil States International
(OII) - Get Oceaneering International, Inc. Report
numbers raised at Jefferies. 2008 EPS estimates raised to $5.05 from $4.70. Price target raised to $70 from $65. Maintains Buy rating.
This article was written by a staff member of TheStreet.com.
