CHANGE IN RATINGS
downgraded at Goldman Sachs to Neutral from Buy based on contraction in global IT spending in 2009 along with broad cutbacks in business spending. Price target cut to $32 from $39.
rated new Buy at Stanford based on strong revenue visibility and potential to exceed estimates next year. Sets $21 target price.
downgraded at Goldman Sachs to Neutral from Buy due to lower IT spending and moderation in capital expenditures from large telecom carriers. Price target reduced to $18 from $25.
upgraded at Goldman Sachs to Buy from Neutral. Note strong growth from international business and improved performance of money transfer segment. Price target revised to $37 from $42.
downgraded at Goldman Sachs to Neutral from Buy. Price target cut to $8 from $12.
upgraded at JPMorgan to Neutral from Underweight based on attractive upside relative to peers. Price target at $52.
upgraded at Jefferies Hold to Buy. $16 price target. Company dominates its niche, has 100% recurring revenue and nearly $4 a share of net cash.
upgraded at Citigroup from Sell to Hold. $18 price target.
Total Systems Services
upgraded at Goldman to Neutral from Sell. Price target unchanged at $14.
upgraded at JPMorgan to Neutral from Underweight based on reduced probability that it will violate debt covenants or encounter other liquidity issues. Teamster wage concessions and debt tender both highlighted as positive steps.
STOCK COMMENTS / EPS CHANGES
target cut at Credit Suisse to $2 from $5. Says outlook for existing equity is uncertain and balance sheet restructuring needs to be sorted out. Maintained Neutral rating.
STRATEGY CALLS / MARKET CALLS
Citigroup changes ratings on two chip-equipment stocks.
was upgraded from Hold to Buy. On the other hand,
was downgraded from Buy to Hold, as the stock is more defensive.
This article was written by a staff member of TheStreet.com.