Change in Ratings
American Eagle Outfitters
initiated at Jefferies with a Buy rating and $21 price target. Introduces 2008 EPS estimates of $1.40.
Abercrombie & Fitch
initiated at Jefferies with an Underperform rating and $38 price target. Introduces 2008 EPS estimates of $4.80.
initiated at Jefferies with a Hold rating and $32 price target. Introduces 2008 EPS estimates of $2.25.
Aeropostale downgraded at Goldman Sachs to Neutral from Buy based on potential sales deceleration. Note that shares trade at a premium multiple compared to peers. Also see signs of broad weakening across teen retail following back-to-school season. Price target trimmed to $34 from $37.
downgraded at Jefferies to Hold from Buy. Maintaind $50 price target and 2008 EPS estimates of $0.52.
downgraded at Citigroup from Buy to Hold. $42 price target. Estimates also cut, as a lot of work still needs to be done by management after attending the analyst meeting.
upgraded at Oppenheimer to Outperform from Perform based on gaining traction in LED's and strong growth potential from an acquisition. Sets $31 target price.
downgraded at Citigroup from Hold to Sell. $27 price target. Estimates also cut as uniform-wearing jobs are declining, and input costs are rising.
upgraded at Goldman Sachs to Buy from Neutral based on earnings drivers that may overcome challenging holiday retail environment. Price target raised to $21 from $19.
upgraded at RBC from Underperform to Sector Perform. $11 price target. Government intervention will help banks across the board.
downgraded at Wachovia from Outperform to Market Perform. Idle transitional capacity charges will weigh on earnings through 2009.
upgraded at UBS to Neutral from Sell. 2008 EPS estimates lowered to $16.20 from $16.35. Price target lowered to $67 from $75.
Penn National Gaming
upgraded at Goldman to Buy from Neutral. With operating/credit conditions remaining challenging, Penn is the only regional gaming company with the balance sheet capacity to take advantage of the decline in multiples across the space. Price target raised to $38 from $30.
downgraded at UBS to Sell from Neutral based on valuation. Stock is up over 30% since August. Maintained $29 target price.
initiated at UBS with a Buy rating and $35 price target. Introduces 2008 EPS estimates of $3.55.
initiated at UBS with a Neutral rating and $43 price target. Introduces 2008 EPS estimates of $1.74.
Stock Comments/EPS Changes
numbers lowered at Jefferies. 2008 EPS estimates lowered to $4.50 from $4.55. Price target lowered to $54 from $57. Maintains Hold rating.
numbers raised at Jefferies. 2008 EPS estimates raised to $1.49 from $1.43. Price target raised to $23 from $22. Maintains Buy rating.
numbers lowered at Jefferies. 2008 EPS estimates lowered to $4.20 from $4.25. Price target lowered to $105 from $115. Maintains Buy rating.
Strategy Calls/Market Calls
Auto parts numbers cut at Citigroup. Estimates and price targets were cut across the board in the auto-parts sector. The weaker credit market and stronger U.S. dollar will offset lower oil prices. The rating on
was also downgraded to Sell.
This article was written by a staff member of TheStreet.com.