Change In Ratings
upgraded at Goldman Sachsto neutral from sell based on improved pricing power in specialty fertilizers and strong fundamentals in global fertilizer industry. See cash flow generation ability as attractive in current weak economic environment, and note defensive nature of salt business. Price target at $68.
upgraded at UBSThe rating was raised to buy from neutral. Fiscal 2009 EPS estimates lowered to -$2.70 from -$1.90. Lowers price target to $17 from $23.
downgraded at Goldman Sachsto sell from neutral due to weakening consumer spending and ongoing pressure from lower Symantec revenue. Expect operating margins to remain flat through 2009 and possibly into 2010. Price target cut to $33 from $38.
downgraded at Keybancfrom buy to hold. Estimates also cut, as the company continues to operate in a difficult environment.
downgraded at Goldman Sachsto sell from neutral as a result of U.S. economic weakness spilling over into international business. Expect longer sales cycles, price discounting, and sales slippage caused by slower deal closings. Note some benefits from strength in emerging markets and currency effects. Price target cut to $25 from $31.
( NCC) downgraded at Merrillfrom neutral to underperform. Credit quality continues to deteriorate in the Midwest, and the upcoming equity offering will be extremely dilutive. $4 price target.
upgraded at UBSfrom buy from neutral. Maintains 2008 EPS estimates of $6.90 and $85 price target.
upgraded at JP Morganfrom neutral to overweight. Deepwater market remains strong, measured by recent contract signings. Free cash flow should continue to build in the coming quarters.
upgraded at UBSfrom buy from neutral. Maintains $41 price target and 2008 EPS estimates of $3.60.
upgraded at Keybancfrom hold to buy. $34 price target. Valuation call, as demand appears healthy and raw material concerns remain under control.
upgraded at Merrillto Neutral. Stock has reached a fork in the road, where it will either be acquired or continue to struggle in the current environment. Stock Comments / EPS Changes
numbers lowered at RBCwith the price target cut to $44 from $50 and FY09 eps estimates drop to $3.00 from $4.13. Reiterates Sector Perform rating and Average risk qualifier.
numbers lowered at RBCAEM's price target dips to $79 from $81 and FY09 eps estimates drop to $3.56 from $3.67. Reiterates Sector Perform rating and Above Average risk qualifier.
Affiliated Managers Group
numbers lowered at Jefferies2008 EPS estimates lowered to $6.75 from $7.05. Price target lowered to $110 from $115. Maintains Buy rating.
numbers lowered at UBSFiscal 2009 EPS estimates lowered to $1.55 from $1.56. Price target lowered to $25.50 from $27.00. Maintains Neutral rating.
price target lowered at JefferiesTarget price lowered to $18 from $24. Maintains 2008 EPS estimates of $1.04 and Buy rating.
numbers lowered at Goldmanto $31 from $36 based on reduced earnings expectations for 2009. See weak credit and consumer markets negatively impacting earnings through 2009, and see GE Capital and Consumer & Industrial businesses offsetting growth in Infrastructure segment. 2009 estimates reduced to $2.30 from $2.45.
numbers lowered at Jefferies2008 EPS estimates lowered to $1.70 from $1.75. Price target lowered to $29 from $33. Maintains Buy rating.
numbers lowered at UBSFiscal 2009 EPS estimates lowered to $1.55 from $1.56. Lowers price target to $27 from $30. Maintains Neutral rating.
( PBG) target lowered at Credit Suisseto $31 from $37 based on possibe margin contraction due to high volatility of COGS. Maintained Neutral rating.
target lowered at Credit Suisseto $65 from $70. Believes stock remains one of the most vulnerable in its sector and maintained Underperform rating.
numbers lowered at RBC Price target dips to $61 from $63 and FY09 revenue estimates drop to $438.4 from $447.4. Reiterates Sector Perform rating and Speculative risk qualifier.
T Rowe Price
numbers lowered at Jefferies2008 EPS estimates lowered to $2.39 from $2.48. Price target lowered to $63 from $67. Maintains Buy rating.
This article was written by a staff member of TheStreet.com Ratings.