Analysts' Upgrades, Downgrades: Hershey
Change in Ratings
Cadence Design
(CDNS) - Get Cadence Design Systems, Inc. Report
upgraded at Citigroup from Hold to Buy. $11.50 price target. Stock also added to the Top Picks list.
Hershey Foods
(HSY) - Get Hershey Company Report
downgraded at Citigroup from Buy to Hold. $42 price target. Valuation call, as the stock is up 27% since July 1. Estimates also cut to reflect the lower expected demand from price increases and the net effect of hedging commodity cost.
Lennox
(LII) - Get Lennox International Inc. Report
downgraded at Keybanc from Buy to Hold. Valuation call, though the long-term thesis remains intact.
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Luminex
(LMNX) - Get Luminex Corp Report
downgraded at Weisel from Overweight to Market-weight. Valuation call, based on a $26 price target. Business remains highly leveraged to 2 key partners.
Manpower
(MAN) - Get ManpowerGroup Inc. Report
downgraded to Equal-weight at Lehman due to belief that recent sharp deterioration in Europe and dollar appreciation will challenge future results. Price target reduced to $56 from $60.
Robert Half
(RHI) - Get Robert Half International Inc. Report
downgraded to Underweight at Lehman. Price target maintained at $23. Lehman believes company has little near-term upside potential due to deteriorating economic environment.
This article was written by a staff member of TheStreet.com.
