CHANGE IN RATINGS
downgraded at Goldman to Neutral from Buy based on valuation. Maintained price target of $20.
Alpha Natural Resources
upgraded at Goldman to Conviction Buy from Neutral. The co. proposed a purchase for Foundation Coal which would improve its competitive positioning and organic growth opportunities. New target price established at $38.
rated new Accumulate at ThinkEquity. $60 price target. Company has an attractive business model, with 80% recurring revenues.
upgraded at Morgan Stanley to Equal-weight. There is better growth opportunity in the rails than other areas of transportation, and 2009 should mark the earnings bottom.
upgraded at Argus from Sell to Buy. Estimates also raised, to reflect cost-cutting and improving sales. $20 price target.
upgraded at Goldman to Sell from Conviction Sell following its negative outlook and the potential of a credit downgrade. Maintain price target of $36.
upgraded at Oppenheimer to Outperform from Underperform. Structural improvements and a meaningful level of pricing power has led to the increase in ratings. Price target established at $70.
upgraded at Morgan Stanley to Overweight. Company is the cheapest rail stocks and 2009 should be the earnings trough for the group.
downgraded at Barclays to underweight from equal weight and price target maintained at $8. Digestion challenges in 3G equipment in China and additional European weakness will drive Ericsson's Networks revenues below consensus in 2H09. Expecting modest long-term growth in Ericsson's core Networks unit. Bright spots include healthy growth in Services, leading technology, and dominant market share. Visibility on a European capex uptick would make Barclays more positive on the shares.
Great Plains Energy
rated new Equal-weight at Barclays Capital. $18 price target. Stock looks fairly valued, but offers an attractive dividend yield.
downgraded at Goldman to Buy from Conviction Buy based on valuation and volume trends. Raised target price to $130 from $120.
downgraded at KeyBanc to hold from buy, based on valuation, as shares have met price target of $13.00. Year-to-date, KWK shares have appreciated ~136.6%, as compared to large, mid and small-cap universe, which has increased 41.0% and the S&P that is up 4.6%.
downgraded at Goldman to Buy from Conviction Buy. Indications show that its outlook is positive and backlog is building nicely. Maintained target price of $36.
upgraded at Goldman to Buy from Neutral. Inventory control, growth opportunities, and better execution throughout its stores led to the upgrade. Price target raised to $17 from $9.50.
downgraded at Barclays. Rating lowered to Equal weight from Overweight. Maintains $17 price target. 2009 EPS estimates raised to $0.84 from $0.76.
downgraded at Goldman to Conviction Sell from Sell. Limited price leveraging and a decline in new sales led to the downgrade. Price target established at $23.
upgraded at Morgan Stanley to Overweight. $56 price target. Risks are abating, and there likely won't be more retail price cuts.
upgraded at Argus from Hold to Buy. $26 price target. Company has held up better than expected during the recession, and demand may already be starting to recover.
upgraded at Goldman to Conviction Buy from Buy. Indications of growth and the acquisition of 55 branches from UBS led to the increase in ratings. Set target price at $55.
downgraded at Goldman to Conviction Sell from Sell as coated paper volume remains weak and freesheet prices have declined. Price target set at $3.
upgraded at Goldman to Buy from Neutral. Through new capital raises and renegotiations of existing credit agreements, the co. has improved its flexibility and financing concerns. Increased price target to $20 from $16.
downgraded at Jesup & Lamont. Rating lowered to Hold from Buy. Removes price target. Lowers fiscal 2010 EPS estimates from $7.50 to $7.00.
rated new Buy at Merrill Lynch/Bank of America. $50 price target. Company still has room to grow and is attractively valued.
STOCK COMMENTS / EPS CHANGES
estimates, target raised at Barclays to $42. Estimates also boosted, to reflect expected market share gains. Overweight rating.
target raised at Goldman to $12 from $10.50 based on current valuation and a normalized growth profile for the company. Maintained rating of Sell.
estimates reduced at Jesup & Lamont through 2010. Demand is down because of the Swine flu, pushing out the timing of a business recovery. Buy rating and $15 price target.
numbers increased at Barclays through 2010. Copper skeptics will likely be proven wrong. Overweight rating and new $85 price target.
target raised at Credit Suisse to 80 cents from 40 cents. Increase in cash and signs of order improvement led to the increase in numbers. Maintained Neutral rating.
numbers increased at Wachovia to $13. Estimates also raised, to reflect the company's new guidance for higher gross margin. Market Perform rating.
estimates, target boosted to $52 at Merrill Lynch/Bank of America. Estimates also raised, to reflect the company's new guidance and higher ASP's. Buy rating.
RF Micro Devices
numbers boosted at Oppenheimer because of strong channel checks. Company is likely taking market share at Nokia and Samsung. Outperform rating and new $4 price target.
target increased at Oppenheimer to $48 from $44. Trends indicate that the co. is benefitting from more home-prepared meals and a positive outlook ahead. Maintain Outperform rating.
target boosted to $59 at Merrill Lynch/Bank of America. CFO recently said that the volume declines are stabilizing. Buy rating.
This article was written by a staff member of TheStreet.com.