Change in Ratings
upgraded at Credit Suisse to outperform from neutral based on pricing power. Raises target price to $60 from $50.
downgraded at Goldman to neutral from buy based on valuation. Stock is within 4% of its $38 target price.
downgraded at Credit Suisse to neutral from outperform based on valuation. Shares are up 25% since February. Maintained $65 target price.
upgraded at Goldman to buy from neutral based on valuation. Sees over 30% upside in the stock over the next six months. Lowered target price to $20 from $22.
Fifth Third Bancorp
upgraded at KBW to outperform. Estimates cut to reflect the recent recapitalization, though the company's valuation now appears attractive. $13 price target.
initiated at UBS with a buy rating and $150 price target. Introduces 2008 EPS estimates of $5.25.
downgraded at Citigroup from hold to sell with a $22 price target. Field checks in Asia suggest lower LCD TV display demand and a slowdown in China orders. Estimates also cut.
Pepsi Bottling Group
upgraded at JP Morgan to neutral from underweight. Lowers 2008 EPS estimates from $2.38 to $2.33.
Portland General Electric
upgraded at JPMorgan to neutral from underweight. Maintains 2008 EPS estimates of $1.85.
downgraded at JPMorgan to neutral from overweight. Lowers 2008 EPS estimates to 94 cents from $1.00.
upgraded at Morgan Stanley to overweight with a $42 price target. Size and growth of the company's China business is underappreciated. Valuation multiple should also expand if the company meets earnings targets for the first time in a few years.
downgraded at Citigroup from buy to hold with a $27 price target. Estimates also cut as NAND pricing and is weakening. Recent trip to Asia also suggests that end-product demand could be soft.
Stock Comments/EPS Changes
price target raised at RBC to $37 from $32 while fiscal year 2008 EPS estimates hold at $2.03. Reiterates sector perform rating.
numbers raised at Jefferies. Price target raised to $16 from $10. 2008 EPS estimates raised to -26 cents from -34 cents. Maintains buy rating.
Fifth Third Bank numbers lowered at UBS. 2008 EPS estimates lowered to 41 cents from $2.20. Price target lowered to $10 from $22. Maintains neutral rating.
numbers lowered at UBS. Price target lowered to $26 from $33. 2008 EPS estimates lowered to -$3.75 from -25 cents. Maintains neutral rating.
numbers lowered at RBC. Price target dips to $9 from $10 and fiscal year 2009 EPS estimates lowered to 42 cents from 45 cents. Reiterates sector perform rating.
numbers raised at RBC. Price target lifts to $32 from $26 and fiscal year 2009 EPS estimates upped to $1.90 from $1.85. Reiterates sector perform rating.
estimates raised at Jefferies. 2008 EPS estimates raised $2.23 from $2.16. Maintains buy rating and $56 price target.
numbers lowered at UBS. Price target lowered to $43 from $51. 2008 EPS estimates lowered to $2.83 from $2.85. Maintains neutral rating.
This article was written by a staff member of TheStreet.com Ratings.