Change in Ratings
downgraded at Deutsche Bank from Buy to Hold. $53 price target. Company could face more debt writeoffs than its peers. Estimates also cut through 2010.
upgraded at Merrill from Neutral to Buy. $36 price target. Company has strong secular growth prospects, even though 2009 will be a difficult year.
upgraded at Merrill from Neutral to Buy. $27 price target. Company generates more than half of its sales from food producers, and delivers steady cash flow.
upgraded at J.P. Morgan to Overweight from Neutral based on balance sheet strength and limited capital commitments.
( GYMB) upgraded at J.P. Morgan to Overweight from Neutral. Valuation implies an unlikely dire earnings scenario in 2009. Price target at $23.
upgraded at Credit Suisse to Outperform from Neutral based on valuation and defensive growth profile. Maintained $50 target price.
Stock Comments/EPS Changes
target cut at Credit Suisse to $10 from $17 based on further margin pressure and valuation. Maintained Neutral rating.
price target slashed at Goldman Sachs to $34 from $43 based on lower expectations for the normally robust fourth quarter. Maintained Neutral rating.
target lowered at Credit Suisse to $18 from $25 based on slower growth in business and general aviation sector. Maintained Neutral rating.
target cut at Credit Suisse to $51 from $63. Expects business and general aviation market to decline 8%-12% in FY 2009. Maintained Outperform rating.
This article was written by a staff member of TheStreet.com.