CHANGE IN RATINGS
downgraded at UBS from Buy to Neutral. $40 price target. CF deal would be dilutive to earnings through 2010.
upgraded at Barclays from Underweight to Equal-weight. $26 price target. Spring sales are likely off to a good start, and the company is cutting back costs.
downgraded at BofA/Merrill from Buy to Neutral. $56 price target. Company will likely fall short of 2009 guidance, as end markets like chemicals struggle.
upgraded at Jefferies to Buy from Hold based on valuation and price target reduced to $12 from $15. Based on P/E valuation that assumes modest adjustment at the end of the company's electric rate agreement period.
upgraded at Goldman Sachs to Neutral from Sell based on valuation and improving fundamentals at OshKosh. Believe shares will trade sideways until earnings growth resumes. Price target at $15.
upgraded at UBS from Neutral to Buy. $42 price target. Company is executing by bringing in customers with its value proposition.
downgraded at Jefferies to Hold from Buy and price target reduced to $7 from $21. Downgrade and price target reduction due to reflect lower gas prices and probability of reduced drilling activity. NAV reduced to $7 from $21.
upgraded at J.P. Morgan to Overweight from Neutral based on stabilizing fundamentals, lower risk of covenant violation and valuation. Near-term results should remain poor, but risk/reward appears favorable for long-term. Price target at $12.
downgraded at UBS from Neutral to Sell. $9 price target. Stock is more expensive than it looks, and has more customer risk than its peers.
upgraded at Citigroup from Sell to Hold. $1 price target. Management has given more realistic EBITDA guidance, though interest expense is rising.
STOCK COMMENTS / EPS CHANGES
Chicago Bridge & Iron
target cut at Credit Suisse from $10 to $5 following very weak Q4 results. Cites possible liquidity concerns but maintained Neutral rating following drop in stock price.
estimates lowered through 2010 at UBS. Company is paying down debt, though margins should fall in the coming quarters. Neutral rating and $21 price target.
estimates, target lowered at UBS. Shares now seen reaching $6.25. Estimates cut, as carrier spending was likely weak in January. Neutral rating.
2009 estimates lowered because of a higher warranty liability, at Barclays Capital. Overweight rating and new $33 price target.
estimates raised at UBS through 2010. Company posted a strong quarter, though it was aided by below-the-line items. Sell rating and $21 price target.
( DLM) numbers raised at Morgan Stanley through 2011. Company posted a strong quarter, but is still losing market share and its margins are shrinking. Underweight rating and new $6.50 price target.
target lowered at Credit Suisse to $21 from $24 based on negative marks on AuM, lower fee rates and a possible increase in compensation expense. Maintained Outperfrom rating.
price target cut at Goldman to $32 from $35 following Q4 results that showed limited new awards and poor earnings quality. Believe award delays and cancellations will remain a headwind in current environment. Maintained Sell rating.
numbers lowered at Barclays to $24. Estimates also cut, to reflect the weak outlook for volume growth. Overweight rating.
target cut at Credit Suisse to $2 from $4 based on lower EPS and EBITDA assumptions following Q4 results. Maintained Neutral rating.
numbers raised at Barclays to $24. Estimates also increased because of cost-cutting efforts. Equal-weight rating.
2009 estimates cut because of lower traffic at both Las Vegas and Macau, at UBS. Company may also likely not be able to use its NOL's. Neutral rating and $28 price target.
This article was written by a staff member of TheStreet.com.