Analysts' Upgrades, Downgrades: H-P
CHANGE IN RATINGS
Analog Devices
(ADI) - Get Analog Devices, Inc. Report
upgraded at Deutsche Bank from Hold to Buy. $26 price target. Leverage story is just beginning to unfold.
Analog Devices
(ADI) - Get Analog Devices, Inc. Report
numbers raised at Barclays through 2010. Company is a good defensive stock, because of its limited PC exposure. Overweight rating and new $22 price target.
Analog Devices
(ADI) - Get Analog Devices, Inc. Report
target raised at Credit Suisse to $23 from $16 following strong Q2 results and guidance. Maintained Neutral rating.
Biogen Idec
(BIIB) - Get Biogen Inc. Report
upgraded at Barclays from Underweight to Equal-weight. $52 price target. Tysabri utilization has been rising, and the company could exceed near-term earnings expectations.
Colgate
(CL) - Get Colgate-Palmolive Company Report
downgraded at Barclays. Rating lowered to Equal Weight from Overweight. Price target lowered to $68 from $71. Maintains 2009 EPS estimates of $4.23.
TheStreet Recommends
Costco
(COST) - Get Costco Wholesale Corporation Report
upgraded at Credit Suisse to Outperform from Neutral based on valuation. Stock is trading at a discount to its normal multiple. Raised target price to $55 from $39.
Home Depot
(HD) - Get Home Depot, Inc. Report
downgraded at Friedman, Billings Ramsey from Outperform to Market Perform. $25 price target. Company is now starting to hurt from the acceleration of foreclosure activity.
Home Depot
(HD) - Get Home Depot, Inc. Report
estimates, target increased at Barclays through 2010. Company is seeing better sales and keeping a tight lid on costs. Overweight rating and new $26 price target.
Kansas City Southern
(KSU) - Get Kansas City Southern Report
upgraded at Merrill/BofA from Neutral to Buy. $21 price target. Valuation call, as the worst of the company's balance sheet concerns have passed. Liquidity also appear sustainable.
McDonald's
(MCD) - Get McDonald's Corporation Report
upgraded at Deutsche Bank from Hold to Buy. $65 price target. Company generates attractive cash flow and has several potential upcoming catalysts.
Procter & Gamble
(PG) - Get Procter & Gamble Company Report
upgraded at Barclays to overweight from equal weight and price target increased to $60 from $56. Barclays believes it is time to re-embrace its long term +3-5% organic revenue growth and revisit how it chooses to spend its investment dollars.
Royal Dutch Shell
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upgraded at JPMorgan to Neutral from Underweight based on valuation and recent underperformance in the stock. Believe weak macroeconomic outlook is priced in and high dividend will be maintained.
TJX Companies
(TJX) - Get TJX Companies Inc Report
upgraded at MKM from Neutral to Buy. $35 price target. Stock remains undervalued, despite the recent rebound.
Tyson Foods
(TSN) - Get Tyson Foods, Inc. Class A Report
upgraded at Keybanc from Hold to Buy. $16 price target. Earnings visibility has improved in the Chicken segment.
Zoran
(ZRAN)
upgraded at JPMorgan to Neutral from Underweight based on stabilizing consumer electronics market and improving visibility. Management made positive comments on near-term demand and profitability in Q3. Price target raised to $10 from $7.50.
STOCK COMMENTS / EPS CHANGES
Campbell Soup
(CPB) - Get Campbell Soup Company Report
numbers cut at Morgan Stanley through 2011. Company is seeing lower soup sales. Equal-weight rating and new $28 price target.
Dick's Sporting Goods
(DKS) - Get Dick's Sporting Goods, Inc. Report
numbers upped at Barclays to $19. Estimates also increased, to reflect improved sales and better expense management. Overweight rating.
Hewlett-Packard
numbers increased at Barclays to $42. Estimates also raised, to reflect cost cuts and a more stable economy. Overweight rating.
Kellogg
(K) - Get Kellogg Company Report
estimates, target raised at Morgan Stanley to $48. Estimates also increased, as the company is positioned well against several industry headwinds. Overweight rating.
Kimberly-Clark
(KMB) - Get Kimberly-Clark Corporation Report
target cut at Barclays to $54 a share. Company will likely trade at a discount to its peers. Equal-weight rating.
Medtronic
(MDT) - Get Medtronic Plc Report
estimates lowered at UBS through 2010. CRDM business is losing market share and a drag on growth. Buy rating and $49 price target.
McAfee
(MFE)
target raised at Morgan Stanley to $43. Pipeline and sales trends were strong through May, and consumer growth should continue. Overweight rating.
Scotts Miracle-Gro
(SMG) - Get Scotts Miracle-Gro Company Class A Report
numbers raised at Jefferies to $45. Estimates also increased, as favorable consumer business trends have continued into May. Buy rating.
YUM Brands
(YUM) - Get Yum! Brands, Inc. Report
cut from U.S. Focus List at Credit Suisse. Risk/reward is less favorable, as the stock is up 23% since Feb. 5. Outperform rating.
This article was written by a staff member of TheStreet.com.
