Change in Ratings
initiated at Jefferieswith an Underperform rating and $14 price target. Introduces 2008 EPS estimates of $0.37.
initiated at Jefferieswith a Hold rating and $38 price target. Introduces 2008 EPS estimates of $1.84.
downgraded at UBSto Sell from Buy. 2008 EPS estimates lowered to -$0.26 from $3.20. Price target lowered to $6 from $17.
Stock Comments / EPS Changes
price target cut at Goldmanto $200 from $220 based on lower gross margins and reduced outlook. Believe gross margins should stay above 30% and note that all three major product initiatives are working. Maintained Buy rating.
estimates lowered at UBSto $2.75 from $3.20. Maintains Neutral rating and $41 price target.
price target slashed at Goldmanto $49 from $57 following Q2 results that missed expectations badly due to reserve build. Note deterioration in consumer credit, lower total receivables and managed loans. Maintained Buy rating on valuation.
Bank of America
target raised at RBCto $26 from $22. FY09 eps estimates trimmed to $3.40 from $3.50 and reiterates Sector Perform rating.
( DNA) price target raised at UBSto $105 from $92. Maintains 2008 EPS estimates of $3.08 and Buy rating.
numbers lowered at UBSto $1.42 from $1.45. Price target lowered from $25 to $23. Maintains Buy rating.
( FDRY) numbers raised at Jefferiesto $19.25 from $17.00. 2008 EPS estimates raised to $0.68 from $.066. Maintains Buy rating.
numbers lowered at RBCto $14 from $20 and FY09 eps estimates dip to $0.96 from $1.12. Reiterates Sector Perform rating and Average Risk qualifier.
price target lowered at UBSto $6.50 from $8.50. Maintains 2008 EPS estimates of $0.46 and Neutral rating.
numbers lowered at UBSto $4.80 from $5.20. Price target lowered to $90 from $95. Maintains Buy rating.
price target cut at UBSto $20 from $26. Maintains 2008 EPS estimates of $1.21 and Neutral rating.
price target raised at Goldmanto $162 from $155, based on aggressive price expectations for 2009 corn. Believe recent concerns over reversal in corn pricing are overblown. Maintained Buy rating.
Proctor and Gamble
price target lowered at UBSto $75 from $80. Maintains 2008 EPS estimates of $3.51 and Buy rating.
estimates raised at UBSto $6.03 from $5.79. Maintains Neutral rating and $56 price target.
numbers lowered at UBSto -$0.82 from $0.98. Price target lowered to $18 from $21. Maintains Neutral rating.
numbers lowered at UBSto $29.50 from $32.50. 2008 EPS estimates lowered to $1.80 from $1.99. Maintains Neutral rating.
estimates lowered at Goldmanto $1.80 from $1.93. Second quarter results were solid but third quarter guidance of $0.41 to $0.47 was dissappointing. Note weakness in wireless and record high inventory levels. Maintained Neutral rating. Price target at $28.
This article was written by a staff member of TheStreet.com Ratings.