Analysts' Upgrades, Downgrades: Intel

See who made what calls.

Author:: TSC Staff
Publish date:: Dec 9, 2008 5:50 PM EST

Updated from 9:07 a.m. EST

CHANGE IN RATINGS

Blackrock

downgraded at Wachovia from Outperform to Market Perform. Earnings will be hurt by the weaker market, and companies will struggle to sell nontraditional investment products. Blackrock shares ended Tuesday's trading session down $5.01, or 3.63%, at $133.12.

Walt Disney

(DIS) - Get Report

downgraded at Pali Research from Buy to Neutral. Valuation call, given the widening premium to its peers. Walt Disney shares ended Tuesday's trading session down $1.39, or 5.58%, at $23.53.

Illinois Tool Works

(ITW) - Get Report

downgraded at Barclays to Underweight from Equal-weight and 2009 EPS estimate reduced from $2.70 to $2.25. Price target reduced from $32 to $27. Illinois Tool shares ended Tuesday's trading session down 60 cents, or 1.83%, at $32.24.

(MMM) - Get Report

downgraded at Barclays to Underweight from Equal-weight and 2009 EPS estimates reduced from $4.50 to $3.85. Price target cut from $54 to $46. 3M numbers cut at Morgan Stanley. Shares now seen reaching $69. Estimates also lowered, to reflect the company's new guidance. Overweight rating. 3M shares ended Tuesday's trading session down $1.23, or 2.14%, at $56.15.

National Semiconductor

(NSM)

downgraded at Morgan Stanley from Overweight to Equal-weight. Company's sales will continue to deteriorate into the February quarter. $10 price target. National Semi shares ended Tuesday's trading session up $1.36, or 13.22%, at $11.65.

Roper Industries

(ROP) - Get Report

downgraded at Citigroup from Buy to Hold. $47 price target. Valuation call, as the company trades at a 44% premium to its peers. Roper shares ended Tuesday's trading session down $3.44, or 7.53%, at $42.22.

T. Rowe Price

(TROW) - Get Report

downgraded at Goldman from Neutral to Sell. $28 price target. Valuation call, as the stock trades at a 60% premium to its peers. T. Rowe Prices shares ended Tuesday's trading session down $2.51, or 6.85%, at $34.13.

UPS

(UPS) - Get Report

downgraded at JPMorgan to Neutral from Overweight. Says DHL and lower fuel prices are not enough to offset falling demand. Reduced 2009 EPS estimates to $3 from $3.40. UPS shares ended Tuesday's trading session down $4.11, or 7.01%, at $54.51.

STOCK COMMENTS/EPS CHANGES

Altera

(ALTR) - Get Report

numbers lowered at Morgan Stanley. Estimates cut following the company's negative mid-quarter update. Computing and consumer verticals were especially weak. Equal-weight rating and new $17 price target. Altera's shares ended Tuesday's trading session up 79 cents, or 5.6%, at $14.83.

Dow Chemical

(DOW) - Get Report

target cut at Credit Suisse to $24 from $27 based on deteriorating market conditions. Maintained Neutral rating. Dow fell $1.22, or 6%, Tuesday to $19.15.

FedEx

(FDX) - Get Report

estimates, target cut at Barclays. Shares now seen reaching $90. Estimates also lowered, to reflect the company's latest earnings warning. Equal-weight rating. FedEx shares closed Tuesday at $63.65, down $10.78, or 14.5%.

Intel

(INTC) - Get Report

estimates cut at Morgan Stanley because of weak demand for high-end products. Equal-weight rating and $13 price target. Intel's shares ended Tuesday's trading session up 36 cents, or 2.6%, at $14.30.

MetLife

(MET) - Get Report

numbers cut at Barclays. Shares now seen reaching $47. Estimates also lowered, given the company's need to raise more capital. Overweight rating. MetLife rose $1.97, or 6.6%, to $32 Tuesday.

Nova Chemicals

(NCX)

target lowered at Credit Suisse to $7 from $14 based on current weakness across the chemical chain in Q4 and expectations that the weakness will extend through 2009-2010. Maintained Neutral rating. Nova's shares closed Tuesday's session down 60 cents, or 10.7%, at $5.01.

Parker Hannifin

(PH) - Get Report

cut from Conviction Buy list at Goldman. Expect the company could lower 2009 guidance at its analyst meeting Wednesday. Buy rating and new $45 price target. Parker Hannifin ended Tuesday's trading session down $1.60, or 4.1%, at $37.39.

This article was written by a staff member of TheStreet.com.