
Analysts' Upgrades, Downgrades: Broadcom
Change in Ratings
Altera
(ALTR) - Get Report
downgraded at Goldman Sachs to Sell from Neutral due to reduced capital spending expectations in communications infrastructure market. Note deterioration in emerging markets resulting from slowdown in subscriber growth and other macroeconomic effects. Price target lowered to $16 from $20.
Aon
(AOC)
upgraded at Merrill to Buy. $46 price target. Company does not face near-term liquidity issues, and could grow in the reinsurance market.
Invitrogen
(IVGN)
upgraded at Deutsche Bank from Hold to Buy. $32 price target.
PMC-Sierra
(PMCS)
upgraded at Goldman Sachs to Buy from Neutral based on stabilizing telecom and storage business. Price target lowered to $6 from $7.
Xilinx
(XLNX) - Get Report
downgraded at Goldman Sachs to Neutral from Buy due to fundamental headwinds related to weakness in emerging markets wireless infrastructure. Price target cut to $22 from $28.
Stock Comments/EPS Changes
Broadcom
(BRCM)
numbers cut at Morgan Stanley. Shares now seen reaching $16. Estimates also lowered. Equal-weight rating.
Strategy Calls/Market Calls
Morgan Stanley starts coverage on four exchanges.
IntercontinentalExchange
(ICE) - Get Report
was initiated with an Overweight rating. Coverage of
CME Group
(CME) - Get Report
and
Nasdaq
were rated Equal-weight, and
NYSE Euronext
(NYX)
as Underweight. Expect declines across the board following the market crisis in 2008. Cautious industry view.
This article was written by a staff member of TheStreet.com.