Analysts' Upgrades, Downgrades: GM
Change in Ratings
Applied Materials
(AMAT) - Get Applied Materials Inc. Report
downgraded at Oppenheimer from Outperform to Perform. $10 price target.
Aeropostale
(ARO)
downgraded at Barclays from Equal-weight to Underweight. $18 price target. Company's comp sales are at an inflection point, and operating margins are set to decline.
FMC Technologies
(FTI) - Get TechnipFMC plc Report
downgraded at JP Morgan to Underweight from Neutral based on currency headwinds. Believe recent strength in U.S. dollar will reverse previously positive trends, pressuring multiples and putting 2009 earnings at risk of downward revisions. Note recent $290 million backlog reduction.
GM
(GM) - Get General Motors Company Report
downgraded at Deutsche Bank to Sell from Hold. Price target lowered to $0 from $4. 2008 loss estimates lowered. General Motors downgraded at Barclays from Equal-weight to Underweight. $1 price target. Says cash will likely fall below minimum needs in the first quarter without further government assistance.
Kohl's
(KSS) - Get Kohl's Corporation Report
upgraded to Market-weight from Underweight at Thomas Weisel. Price target maintained at $34.
Lifepoint
TheStreet Recommends
(LPNT)
upgraded from Sell to Hold at Citigroup. $25 price target. Valuation call, even though estimates were cut to match the company's new guidance.
Las Vegas Sands
(LVS) - Get Las Vegas Sands Corp. Report
downgraded at Merrill Lynch. Rating lowered to Underperform from Neutral. Price target lowered to $7 from $15. Maintains 2008 EPS estimates.
Urban Outfitters
(URBN) - Get Urban Outfitters Inc. Report
downgraded at Barclays to Underweight. Estimates also cut, as the company will have to continue markdowns to help move inventory.
Wells Fargo
(WFC) - Get Wells Fargo & Company Report
upgraded from Neutral to Outperform at Credit Suisse with a price target of $38.
Stock Comments/EPS Changes
Brookfield Asset Management
(BAM) - Get Brookfield Asset Management Inc. Report
target cut at Credit Suisse to $25 from $30 based on lower cash flow assumptions following Q3 results. Maintained Outperform rating.
Dr. Pepper Snapple
(DPS)
numbers cut at Morgan Stanley. Shares now seen reaching $29. Estimates also lowered ahead of earnings. Equal-weight rating.
Embraer
(ERJ) - Get Embraer S.A. Report
target cut at Credit Suisse to $26 from $30 based on tougher than expected outlook outlined by management. Maintained Neutral rating.
Altria
(MO) - Get Altria Group Inc. Report
numbers cut at Morgan Stanley. Equal-weight rating and new $22 price target.
Sprint
(S) - Get SentinelOne Inc. Class A Report
price target cut at Goldman to $5 from $5.50 following lower than expected Q3 results. Note that company has had to constrain capital expenditures to protect cash flow as margins have declined. Maintained Neutral rating.
Tim Hortons
(THI)
price target reduced at Goldman to $23 from $26 to reflect weaker fundamentals and strong U.S. dollar currency moves. Believe premium valuation will continue to deteriorate as guest counts remain in decline. Maintained Sell rating.
URS
(URS)
estimates raised, target cut at Morgan Stanley. Shares of URS now seen reaching $55. Estimates raised however. Overweight rating.
Strategy Calls/Market Calls
First Solar
(FSLR) - Get First Solar Inc. Report
,
Energy Conversion
(ENER)
,
SunPower
(SPWRA)
and
Canadian Solar
(CSIQ) - Get Canadian Solar Inc. Report
downgraded from Buy to Hold, Deutsche Bank said. Companies face several risks, and earnings expectations have likely yet to bottom.
This article was written by a staff member of TheStreet.com.
