Change in Ratings
upgraded at Credit Suisse to Outperform from Neutral. Believes company is better positioned to weather the volatile markets while giving investors exposure to operating leverage and stability of the tower business model. Lowered target price to $38 from $43
upgraded at Morgan Stanley from Equal-weight to Overweight. Valuation call, even as estimates were cut for foreign-exchange reasons. $40 price target.
upgraded at Morgan Stanley from Underweight to Equal-weight. Stock is down more than 50% year-to-date, but the company should be able to take market share away from
Carrizo Oil & Gas
rated new Neutral at Credit Suisse. Says high leverage offsets strong growth potential. Sets $25 target price.
upgraded at Goldman Sachs to Buy from Neutral. Believe company can outperform in a consumer downturn based on market share gains and value-oriented, diverse products. Price target trimmed to $22 from $25.
Stock Comments/EPS Changes
numbers raised at Morgan Stanley. Shares now seen reaching $87. Estimates also raised, as organic sales growth has been stronger than expected. Foreign-exchange losses are also being offset by the pullback in commodity costs. Overweight rating.
price target lowered at Goldman to $36 from $40 based on lower 2009 estimates and multiple. Q2 results included reduced guidance and shift toward lower margin products. Also note catalog revenue drop. Maintained Buy rating.
numbers cut at Morgan Stanley. Shares now seen reaching $36. Estimates also lowered. Overweight rating.
Strategy Calls/Market Calls
Numbers cut at Morgan Stanley for
Bank of New York Mellon
. Companies hold value at current levels, but are seeing lower processing fees. In-line sector rating.
This article was written by a staff member of TheStreet.com.