Change in Ratings
upgraded at Merrill from Underperform to Neutral. $10 price target. Valuation call, as the stock is down 69% year-to-date, and the stock is not crediting recent growth.
downgraded at Credit Suisse to Neutral from Outperform. Cites challenging carrier cap-ex environment and deteriorating global macro-environment. Lowered target price to $4 from $6.
upgraded at Piper Jaffray to Neutral from Sell based on valuation and lack of major negative catalysts. See potential for continued difficulty driven by troubled state of culinary and art and design segments, but believe shares adequately reflect this. Price target raised to $14 from $13.
upgraded at Barclays from Equal-weight to Overweight. $47 price target. Company is seeing continued momentum in the high focus RF business.
coverage initiated at Goldman Sachs with a Neutral rating and $36 price target. Although shares are attractive on many valuation measures, note slow revenue growth and limited visibility into growth assets.
coverage initiated at Goldman Sachs with a Sell rating and $19 target. See precipitous earnings decline driven by $21 billion exclusivity loss from 2011-2015. Also note lack of new products.
upgraded at Merrill to Neutral. Valuation call, after the stock fell 20% this week in reaction to a dilutive equity offering and a less favorable commodity price outlook. $18 price target.
upgraded at Barclays from Underweight to Equal-weight. $11 price target. Company has bridged some liquidity gaps and is bringing its cost structure down.
Stock Comments/EPS Changes
target cut at Credit Suisse to $45 from $60 based on significant and rapid inventory depletion in the CDMA market. Maintained Outperform rating.
Strategy Calls/Market Calls
upgraded at Citigroup from Hold to Buy. Rig count is dropping and cold weather is approaching. Remain cautious on the long-term outlook.
estimates cut at JP Morgan through 2009. Private equity losses are especially squeezing Goldman. Maintain Overweight rating. Morgan remains Neutral-rated, though could perform better in the near term.
This article was written by a staff member of TheStreet.com.