CHANGE IN RATINGS
downgraded at Friedman, Billings Ramsey to Underperform. $8.50 price target. Stock has doubled since the March lows, and the aluminum market appears to have excess supply.
initiated at JPMorgan. Initiated with a Hold rating. Introduces $21 price target and 2009 EPS estimates of $1.70.
downgraded at Deutsche Bank. Rating lowered to Hold from Buy. Maintains $55 price target and 2009 EPS estimates of $4.11.
upgraded at Wachovia from Underperform to Market Perform. Valuation call relative to its peers, even though there's a cautious outlook for the industry.
downgraded at Goldman to Sell from Neutral. Potential in-sourcing risk from national plan clients, pricing pressure and selling challenges, and signs of competition led to the decrease in ratings. Increased price target to $10 from $9.
upgraded at Morgan Stanley from Equal-weight to Overweight. $35 price target. Valuation call, as gross margin could exceed expectations in the second half of the year.
upgraded at Credit Suisse to Neutral from Underperform. Cites a slower decline of orders, achieving 21.7 sales per community, and a successful shift to its "Open Series" of homes. Maintained price target of $13.
coverage initiated upon with a Buy at Goldman. Compelling valuation and being the leading vendor of mid-market network management software forecasts many growth opportunities. Established price target at $18.
rated new Overweight at Morgan Stanley. $20 price target. Company has 20% annual earnings growth potential.
upgraded at Goldman to Neutral from Sell based on an attractive valuation. Increased price target to $9.50 from $9.
STOCK COMMENTS / EPS CHANGES
numbers raised at Goldman to $8.50 from $8. Positive operational and product initiatives that are resulting in optimal square footage usage and updated products bode well for the company's outlook. Maintained Neutral rating.
estimates lowered at UBS through 2011. Operating expenses remain high and it will take longer to turn the business around. Neutral rating and $10 price target.
Commercial Metal Company
target raised at Goldman to $18 from $17 based on a higher cash balance for the company. Maintained Neutral rating.
numbers lowered at Morgan Stanley through 2011. Natural gas price outlook remains murky. Overweight rating and new $80 price target. Overweight rating.
numbers boosted at Barclays through 2010. Company should benefit from a weaker dollar and the Gmarket acquisition. Equal-weight rating and new $18 price target.
target raised at Credit Suisse to $85 from $80. Confidence in after market growth, a more variable cost structure, and mixed end markets led to the increase in numbers. Maintained Outperform rating.
estimates boosted at RBC through 2010. Management recently boosted earnings guidance. Outperform rating and $60 price target.
price target raised at Deutsche Bank. Price target raised to $30 from $22. Maintains Buy rating and 2009 EPS estimates of $1.68.
estimates reduced at Barclays through 2010. Macro concerns will likely weigh on revenue. Overweight rating and $40 price target.
estimates, target raised at Friedman, Billings to $16. Estimates also boosted, to reflect improving student loan spreads. Outperform rating.
This article was written by a staff member of TheStreet.com.