CHANGE IN RATINGS
downgraded at Goldman Sachs to Sell from Neutral based on protracted slowdown in agricultural equipment. Believe weakness could linger through 2010 and note 20% lower farmer income in 2009 and weak credit conditions in emerging markets. See potential for DE to reduce 2009 net income guidance by 10% during Feb. 18 earnings announcement. Price target cut to $32 from $38.
downgraded at Goldman Sachs to Neutral from Buy based on overly high expectations for "Monsters vs. Aliens" and weakness in DVD market. Note that shares trade at premium to other large-cap entertainment stocks and expect limited multiple expansion. Price target cut to $25 from $35.
upgraded at Credit Suisse from Neutral to Outperform. $92 price target. Company has solid earnings visibility and is at a compelling valuation.
upgraded at Argus from Hold to Buy. Valuation call, as the company remains positioned well for the long term in televisions and PC's. $17 price target.
downgraded at ThinkEquity to Source of Funds. $300 price target. Stock is up 27% over the past three weeks, though fundamentals continue to weaken.
Great Plains Energy
downgraded at Merrill Lynch/Bank of America from Neutral to Underperform; $15 price target. Estimates also lowered, because of higher financing costs and the deteriorating economy.
downgraded at Credit Suisse from Outperform to Neutral. $42 price target. Business remains soft outside of the U.S., and valuation remains relatively high.
STOCK COMMENTS / EPS CHANGES
estimates reduced at UBS through 2010. Company likely to be hurt by macro factors, but remains better positioned than most of its peers. Buy rating and $21 price target.
Cabot Oil & Gas
price target lowered at Goldman to $33 from $39. Note slower earnings growth estimates and lower near-term potential from Haynesville. Maintained Buy rating based on strong momentum in Marcellus Shale, upside potential to production guidance and improving free cash flow.
numbers lowered at Barclays to $13. Estimates also cut ahead of earnings, as travel trends are down in the current economy. Equal-weight rating.
numbers cut at Merrill Lynch/Bank of America to $45. 2009 estimates also lowered, as channel checks show that January sales were poor. Buy rating.
estimates trimmed at UBS through 2010. Company likely to see lower small business software and payroll revenue. Buy rating and $28 price target.
numbers raised at Morgan Stanley through 2010. Private client group is taking market share in a difficult environment. Overweight rating and new $65 price target.
numbers raised at UBS through 2010. Company is realizing lower costs, and the recent sell-off looks overdone. Buy rating and new $310 price target.
This article was written by a staff member of TheStreet.com.