Updated from 9:16 a.m. EDT
Change in Ratings
upgraded at Merrill to Buy. $27 price target. Stock is down 25% on the latest Byetta news and looks attractive for a trade.
upgraded at UBS to Buy from Neutral. Maintains 2008 EPS estimates of $4.58 and $80 price target.
downgraded at Lehman Brothers to Equal-weight from Overweight. Lowers price target to $50 from $58. Maintains 2008 EPS estimates of $2.16.
downgraded at Credit Suisse to Neutral from Outperform based on an increasingly difficult North American market, competition and a recovery of the dollar. Lowered target price to $57 from $60.
initiated at UBS with a Neutral rating and $25 price target. Introduces 2008 EPS estimates of $1.93.
coverage initiated at Goldman Sachs with a Buy rating. See upside potential from multiple expansion as company sheds commodity assets and Nylon business. Price target at $20.
Stock Comments/EPS Changes
price target raised at UBS to $21 from $18. Maintains 2008 EPS estimate of $1.34 and Neutral rating.
price target raised at UBS to $12 from $10. Maintains Neutral rating and 2008 EPS estimate of $1.25.
target cut at Credit Suisse to $525 from $650 based on continued interest rate volume weakness and NMX deal adjustments. Maintained Outperform rating.
target cut at Credit Suisse to $21 from $35 due to weaker-than-expected guidance. Maintained Neutral rating based on lack of visibility heading into 2009.
price target raised at UBS to $6 from $5. 2008 loss estimate lowered to $0.57 from $0.56. Maintains Sell rating.
This article was written by a staff member of TheStreet.com.