Updated from 9:02 a.m. EDT
Change in Ratings
Advance Auto Parts
downgraded at JPMorgan to Neutral from Overweight based on subsiding cost tailwinds and high expectations. See company entering increased investment phase in a difficult environment.
Dr. Pepper Snapple
downgraded at UBS to Hold from Buy. 2008 EPS estimates raised to $1.92 from $1.87. Price target raised to $25 from $24.
Jack Henry & Associates
downgraded at Credit Suisse to Neutral from Outperform following weak fourth-quarter results. Believes company has a higher risk of missing estimates in the future compared to peers. Lowered target price to $19 from $28.
downgraded at Goldman Sachs to Neutral from Buy following recent rally off mid-July lows. See muted risk/reward without a sustained increase in sales. Maintained $48 price target.
downgraded at Goldman Sachs to Neutral from Buy following recent rally in department store stocks. See limited risk/reward unless industry can show a sustained increase in sales. Maintained $21 price target.
downgraded at Credit Suisse to Neutral from Outperform based on valuation. Says stock is up 25% in the last month and reached its $33 target price.
coverage reinstated at Goldman Sachs with a Buy rating based on valuation relative to growth rate. Note combination of defensiveness and discretionary optionality. Price target at $56.
upgraded at JPMorgan to Overweight from Neutral. See potential earnings upside over next 12 months. Price target at $38.
Stock Comments/EPS Changes
numbers lowered at UBS. 2008 EPS estimates lowered to $1.74 from $1.78. Price target lowered to $39 from $42. Maintains Buy rating.
numbers raised at UBS. Fiscal 2009 EPS estimates raised to $1.61 from $1.58. Price target raised to $28 from $25. Maintains Buy rating.
numbers raised at UBS. 2008 EPS estimates raised to $3.02 from $2.99. Price target raised to $61 from $58. Maintains Buy rating.
This article was written by a staff member of TheStreet.com.