Change in Ratings
Advance Auto Parts
upgraded at RBCto Top Pick rating from Outperform. Price target and FY09 eps estimates hold at $45 and $2.92, respectively.
downgraded at RBCto Outperform rating from Top Pick . Price target cut to $50 from $54 while FY09 eps estimates hold at $3.32.
upgraded at Deutsche Bankto Buy from Hold. Maintains 2008 EPS estimates of $8.80 and $230 price target.
upgraded at Deutschefrom Hold to Buy. $230 price target. Company continues to attact above-average flows and AUM growth. Estimates also raised.
at Merrillto Neutral. New $30 price target. Gross merchandise volume is not turning around, as expected.
downgraded at Jefferiesto Hold from Buy. 2008 EPS estimates raised to $2.00 from $1.99. Maintains $56 price target.
International Game Technology
downgraded at Citigroupto Hold from Buy. Lowers 2008 EPS estimates lowered to $1.23 from $1.34. Target price lowered to $25 from $45.
International Game Tech.
downgraded at Oppenheimerfrom Outperform to Perform. New products are not enough to combat the negative market dynamics that are specific to IGT. $27 price target.
International Game Technology
target cut at Goldmanto $30 from $32 due to weak macroeconomic outlook. See prolonged period of low replacement units and lower levels of participation revenue. Maintained Buy rating on potential for accelerated slot replacement cycle driven by central server technology.
downgraded at Citigroupto Hold. $47 price target. Cautious on fourth quarter and 2009 outlook, as the ad industry may not recover until 2010.
upgraded at Deutschefrom Sell to Hold. $60 price target. Management guided revenue higher, though several key issues remain.
downgraded at Citigroupto Hold from Buy. Lowers target price to $15 from $30. Lowers 2008 EPS estimates to $0.70 from $0.82.
upgraded at Wachoviato Outperform. Stocks looks oversold on the recent pullback. Sales have been above trend, despite commodities headwinds.
Stock Comments / EPS Changes
Advanced Micro Devices
numbers lowered at UBSto -$1.76 from -$1.19. Price target lowered to $5.75 from $7.25. Maintains Neutral rating.
Advanced Micro Devices
target cut at Goldmanto $3.50 from $5, following Q2 earnings that missed consensus estimates. Company announced departure of CEO Hector Ruiz. Note higher gross margin, lower operating expenses, and lower taxes. Maintained Sell rating.
price target raised at UBSto $103 from $93. Maintains 2008 EPS estimates of $2.03 and Neutral rating.
numbers raised at RBCto $57 from $50 and FY09 eps estimates lift to $2.70 from $2.60. Reiterates Outperform rating and Average Risk qualifier.
Bank of New York
numbers lowered at UBSto $2.40 from $2.82. Price target lowered to $39 from $46. Maintains Neutral rating.
price target raised at Goldmanto $220 from $205 following Q2 results that included 5% growth in asset under management. Earnings results beat expectations due to performance fees and positive operating leverage. Maintained Buy rating.
Capital One Financial
numbers lowered at Jefferiesto $4.40 from $5.25. Price target lowered to $40 from $45. Maintains Hold rating.
price target lowered at Jefferiesto $66 from $72. Maintains 2008 EPS estimates of $4.20. Lowers 2009 EPS estimates from $4.70 to $4.55. Maintains Buy rating.
estimates raised at UBSto $4.40 from $4.35. Maintains Buy rating and $95 price target.
numbers lowered at Jefferiesto -$0.29 from -$0.26. Price target lowered to $13 from $16. Maintains Buy rating.
numbers raised at RBCto $60 from $58 and fY09 eps estimates lift to $2.19 from $2.16. Reiterates Outperform rating and Average Risk qualifier.
estimates cut at Morgan Stanleythrough 2009.Company guided to guided to lower interest income, though fundamentals remain strong. Overweight rating.
estimates lowered at UBSto $19.48 from $19.90. Maintains Buy rating and $700 price target.
estimates raised at Goldmanto $9.90 from $9.47. Q2 results showed strength despite challenging macro environment. Price target raised to $145 from $135. Maintained Buy rating.
numbers raised at Jefferiesto $2.45 from $2.43. Price target raised to $90 from $83. Maintains Buy rating.
Illinois Tool Works
estmiates raised at UBSto $3.73 from $3.65. Maintains Buy rating and $59 price target.
estimates raised at UBSto $2.51 from $2.45. Maintains Neutral rating and $45 price target.
JP Morgan Chase
numbers raised at UBSto $2.46 from $2.33. Price target raised to $40 from $37. Maintains Neutral rating.
numbers raised at Morgan Stanleyto $69. Estimates also upped, as the company is seeing accelerating overall global volume growth. Overweight rating.
numbers lowered at UBSto -$5.45 from -$2.55. Lowers price target to $30 from $35. Maintains Neutral rating.
estimates cut at Goldmanto an $8.85 loss from $3.55 loss. Q2 results included weaker than expected earnings on write-downs of $9.7 billion. Note ongoing exposure to risky assets. Price target cut to $33 from $38 and maintained Neutral rating.
target raised at RBCto $375 from $340 while FY09 eps estimates at $21.33. Reiterates Outperform rating and Average Risk qualifier.
estimates lowered at UBSto $7.15 from $7.25. Maintains Neutral rating and $78 price target.
estimates lowered at UBSto $0.48 from $0.51. Maintains Buy rating and $12.50 price target.
numbers lowered at Jefferiesto $0.71 from $0.83. Price target lowered to $14 from $23. Maintains Hold rating.
This article was written by a staff member of TheStreet.com Ratings.