Analysts' Upgrades, Downgrades: GM

See who made what calls.

Author:: TSC Staff
Publish date:: Nov 10, 2008 9:27 AM EST

Change in Ratings

Applied Materials

(AMAT) - Get 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 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) - Get 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 Report

upgraded to Market-weight from Underweight at Thomas Weisel. Price target maintained at $34.

Lifepoint

(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 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 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 Report

upgraded from Neutral to Outperform at Credit Suisse with a price target of $38.

Stock Comments/EPS Changes

Brookfield Asset Management

(BAM) - Get 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 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 Report

numbers cut at Morgan Stanley. Equal-weight rating and new $22 price target.

Sprint

(S) - Get 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.