CHANGE IN RATINGS
downgraded at Citigroup from Buy to Hold. $17 price target. Stock lacks potential near-term catalysts. Estimates also cut, to reflect the company's new guidance.
downgraded at Wachovia to Market Perform. Estimates also cut, to match the company's new guidance.
upgraded at Goldman Sachs to Buy from Neutral based on defensive position and positive exposure to U.S, fiscal stimulus. Note that 60% of revenues come from road/highway construction. Valuation appears attractive, as shares are down 30% year to date. Price target trimmed to $38 from $42.
( WFMI) upgraded at Thomas Weisel to Overweight from Market Weight. Sees limited risk of further downward EPS revisions and attractive valuation after company reported disappointing Q1 results. Raised target price to $45 from $38.
( WFMI) target cut at Credit Suisse to $30 from $35 based on consumables shortfall and pricing deterioration. Maintained Neutral rating.
( WFMI) upgraded at Goldman Sachs to Buy from Neutral. Company derives more than half of revenues from government agencies, providing more exposure to domestic infrastructure projects than peers. Also note successful integration of Washington Group. Price target at $38.
( WFMI) 2009 estimates reduced to 73 cents a share at UBS. Company had poor sales last quarter and the recent margin gains may not be sustainable. Neutral rating and $12 price target.
( WFMI) upgraded at Jefferies from Hold to Buy. $13 price target. Company is turning its business around, despite the difficult economy.
( WFMI) upgraded at Pali from Sell to Buy. $15 price target. Company is cutting costs and should be able to boost cash flow.
downgraded at Barclays from Overweight to Equal-weight. $92 price target. Company may lower production target next month. Prefer companies with more commodity exposure at current levels.
STOCK COMMENTS / EPS CHANGES
numbers raised at UBS through 2010. Management gave a strong outlook for margin improvement. Buy rating and new $23 price target.
price target raised at Goldman to $153 from $140 based on solid Q4 results. Slowing revenue growth did not hurt earnings as badly as feared, and weak guidance was still better than consensus expectations. Maintained Buy rating.
numbers reduced at Barclays to $5. Estimates also cut, to reflect low advertising visibility. Underweight rating.
2009 estimates cut because of higher operating expenses at Barclays Capital. Overweight rating and new $37 price target.
numbers cut at RBC to $17. Estimates also lowered, to reflect lower expected cable revenue. Sector Perform rating.
numbers cut at Barclays through 2010. Company is operating well, but faces more headwinds over the next several quarters. Overweight rating and $44 price target.
estimates cut at RBC through 2010. HPQ results showed large price erosion for PC's. Sector Perform rating.
estimates raised at UBS through 2010. Company guided higher, because of strong domestic bookings. Neutral rating and $74 price target.
This article was written by a staff member of TheStreet.com.