CHANGE IN RATINGS
upgraded at Citigroup from Sell to Hold. $24 price target. Lower energy costs will help offset the deteriorating economy.
upgraded at Oppenheimer to Outperform. $75 price target. Expect two near-term product approvals to help drive the stock.
downgraded at Morgan Stanley from Equal-weight to Underweight. $215 price target. Valuation call, as unemployment is rising in the company's target markets.
rated new Sell at Citigroup. New Encore casino in Las Vegas and commission caps in Macau add risks to the business model. $29 price target.
STOCK COMMENTS / EPS CHANGES
Bed Bath & Beyond
numbers lowered at Barclays. 2008 EPS estimates lowered to $1.60 from $1.82. Price target lowered to $23 from $33. Maintains Equal-weight rating.
price target lowered at Barclays to $36 from $42. Maintains Overweight rating and 2008 EPS estimates of $2.44.
target cut at Barclays to $20 from $24 to reflect higher provisions in a downsized GE Capital. Maintained Overweight rating.
target lowered at Bank of America to $500 from $650 based on lower expectations for 2009. Search business trends are in decline due to weakness in both usage and monetization. Also note weakness in retail and travel sectors. Maintained Buy rating.
target lowered at Barclays to $4 from $6 based on limited visibility on timeframe for further industry consolidation and ongoing losses. Maintained Equal-weight rating.
Research in Motion
price target lowered at Goldman to $62 from $68 and removing it from the Americas Conviction Buy List. Company's negative preannouncement indicates weakness in Curve and Pearl, and Street estimates will need to be reset lower. Maintained Buy rating.
price target cut at Goldman to $28 from $48 following Q3 results that were worse than expected. Note weak gross margins, withdrawn EBITDA guidance and poor same-store sales. Maintained Sell rating.
numbers cut at Citigroup. Shares now seen reaching $17. Estimates also lowered to match the company's new guidance. Softness appears to be in the components business.
This article was written by a staff member of TheStreet.com.