NEW YORK (TheStreet.com) -- CHANGE IN RATINGS
upgraded at Argus from Hold to Buy. $25 price target. Company is performing well through the recession.
downgraded at CIBC from Outperformer to Sector Performer. $43 price target. Company is facing increased hedge book risk and costs.
downgraded at Goldman to Neutral from Buy. Estimates for FY09 raised to ($0.05) from ($0.10). The firm believes that the market is fully valuing the co.'s strong microcontroller franchise and that restructuring catalysts for the disposal of the ASIC business have now passed. Maintained $4.50 target price.
upgraded at Argus from Hold to Buy. $54 price target. Valuation call, based on the company's very strong balance sheet.
downgraded at Natixis from Hold to Sell. $6 price target. Valuation call, as the company has more advertising dependency than its peers.
upgraded at Credit Suisse to Outperform from Neutral. The firm believes that the co. is nearing an inflection point as its fundamentals are stabilizing after the challenges it has faced over the past 18 months. Increased price target to $22 from $18.
( HGSI) upgraded at ThinkEquity from Accumulate to Buy. $26 price target. Benlysta estimates are too conservative.
estimates, target boosted at Barclays through 2010. On the other hand, sales uncertainty remains. Equal-weight rating and new $15 price target.
downgraded at Citigroup from Buy to Hold, Citigroup said $16 price target. Valuation call, as the company lacks near-term catalysts.
upgraded at Stifel from Hold to Buy. $16.50 price target. Equity issuance and debt tender has materially improved financial flexibility.
downgraded at Goldman to Sell from Neutral to reflect a more risk than reward profile. The firm sees more favorable opportunities within their coverage group and believes the co. is fully valued. Maintained $15 price target.
( SVVS) upgraded at Morgan Stanley. Rating raised to Overweight from Equal-weight. Establishes $21 price target. 2009 EPS estimates raised to -$0.11 from -$0.29.
upgraded at JPMorgan. Rating raised to Overweight from Neutral. Price target raised to $43 from $29. Fiscal 2010 EPS estimates raised to $1.83 from $1.73.
target boosted at Merrill/BofA to $41. Company realize higher gaming margins last quarter. Buy rating.
downgraded at Credit Suisse. Rating lowered to Underperform from Neutral. Maintains $34 target price and 2009 EPS estimates of -$2.02.
STOCK COMMENTS / EPS CHANGES
target boosted at Merrill/BofA to $14.50. Sales should improve to merely being flat in the July quarter, driven by silicon and services. Neutral rating.
target increased at Merrill/BofA to $52. Cost-cutting should sustain business until demand materially improves. Buy rating.
numbers raised at Goldman. FY09 estimates to $4.35 from $4.33. The co. experienced significant gross margin expansion and is expected to beat FY10 guidance. Maintained Buy rating.
target increased at Barclays to $59. Company posted a strong quarter, with high earnings quality. Equal-weight rating.
target raised at Goldman to $23 from $22 to reflect management's plan of spinning off MSG. Estimates for FY09 also raised to $0.89 from $0.85. Maintained Neutral rating.
target raised at Goldman to $26 from $23. The co. has been able to wring out fixed costs and acquisition synergies at an accelerated rate, thus driving margin expansion sooner than expected and beating their recent quarters consensus estimates. Estimates raised for FY09 to $0.25 from ($0.07). Maintained Buy rating
Emergency Medical Services
( EMS) target raised at Goldman to $40 from $30. Estimates for FY09 raised to $2.40 from $2.11. The increase of numbers was to reflect the $0.14 2Q beat and operating leverage on a raised outlook for EmCare contract wins. Maintained Neutral rating.
target raised at Merrill/BofA to $11. Company should continue to win back market share and has a relatively strong balance sheet. Buy rating. Buy rating.
numbers boosted at Merrill/BofA to $39. Company posted a strong quarter and is facing easy upcoming comps. Buy rating.
numbers raised at Goldman to $32 from $28 to reflect better visibility. In 2010 the co. is expected to expand its MA-PFFS footprint even as competitors exit the product line, lower operating cost reductions, add a large MA group contract along with a multi-year CMS contract, seek to overturn the recent Dept. of Defense decision to terminate the co.'s South Region TRICARE health administration contract, and grow its MA enrollment. Maintained Neutral rating.
2010 estimates lowered at UBS to reflect potential Medicare margin pressure. Neutral rating and $32 price target.
target raised at Credit Suisse to $40 from $35 to reflect the impact of administrative cost savings and new contracts. Maintained Outperform rating.
target increased at Citigroup to $53. Company has grown its book value. Buy rating.
( KFT) numbers boosted at Morgan Stanley to $27. Estimates also increased, to reflect recent earnings power. That said, the current risk/reward in the stock appears unfavorable. Equal-weight rating.
estimates boosted at Morgan Stanley through 2011. Cost controls should help margins for the eventual recovery. Equal-weight rating.
estimates raised at Goldman. FY09 estimates to ($0.29) from ($0.38). Cites signs of stabilization, expectations of higher margins due to cost cuts, lowered D&A, and declining interest expense assumptions. Maintained Neutral rating.
numbers raised at Barclays to $10. Estimates also increased, to reflect a stabilizing environment. Equal-weight rating.
target cut at Citigroup to $6.55. Increased supply from City Center could cannibalize other properties. Sell rating.
estimates raised at Morgan Stanley through 2011. International upstream business continues to drive growth, but refining remains challenging. Underweight rating and $34 price target.
numbers lowered at Barclays to $36. Estimates cut also through 2010, to reflect weak US production results and high refining costs. Equal-weight rating.
target raised at FBR to $70 a share. Company should benefit from its Israeli gas discoveries. Market Perform rating.
FY09 estimates raised at Goldman to ($0.08) from ($0.09) based on growth in the future as the firm believes hardware will be the first category to rebound with better enterprise IT spending. Maintained Neutral rating.
target increased at FBR to $34. Company posted a strong quarter, driven by cost savings. Outperform rating.
numbers raised at Credit Suisse to $21 from $20. The co. has lowered its D&A, interest, and tax rates which have played into their favor. They are also seeking higher utilization rates and cutting down their bad debt reserves to improve their margins. Maintained Neutral rating.
target raised at Credit Suisse to $30 from $26. Cites strong execution on cost synergies and stabilization of volumes in waste. Maintained Outperform rating.
Molson Coors Brewing
target raised at Goldman to $53 from $51. The co. will be able to flow much of the $500 million merger synergies through to investors, spending will be limited due to its duopolistic structure and cash generation of its key competitors, and valuation remains attractive at this juncture. Estimates raised for FY09 to $3.45 from $3.38. Maintained Buy rating.
numbers raised at Merrill/BofA. Estimates increased through 2010. Company is seeing better pricing and cutting costs. Neutral rating and new $50 price target.
Time Warner Cable
FY09 estimates lowered at Goldman to $2.88 from $2.92 as YOY revenue generating unit (RGU) trends have not shown an improvement from Q2 so far and posted a 70% decline in RGU net add trends YOY. Maintained Sell rating.
target raised at Credit Suisse to $12 from $10.50. Cites more favorable commodity trends, partially offset by a weaker comp outlook and associated deleverage. Maintained Neutral rating.
estimates raised at UBS through 2010. Company seeing higher attendance trends. Neutral rating and $26 price target.
This article was written by a staff member of TheStreet.com.