Change in Ratings
downgraded at Credit Suisse to Underperform from Neutral based on valuation and expected net redemptions. Maintained $42 target price.
Pharmaceutical Product Development
( PPDI) upgraded at Goldman to Buy from Neutral based on valuation, lower Street expectations and potential Q3 bookings increase. Price target raised to $49 from $44.
upgraded at Goldman Sachs to Buy from Neutral based on near-term upside from widening metal margins. Note lower scrap prices and 46% pullback from June highs. Price target at $34.
Stock Comments/EPS Changes
( MOT) target raised at Credit Suisse to $8 from $7.50 based on improved prospects for a turnaround in devices and recent appointment of CEO Sanjay Jha. However, still sees significant near-term challenges. Maintained Underperform rating.
Strategy Calls/Market Calls
Steel sector downgraded at Goldman Sachs to Neutral from Attractive based on emergence of risks including rising U.S. dollar, "China fear," weak global economic data and softness in steel and scrap pricing. Top-rated stocks remain
Chip-equipment sector downgraded at Morgan Stanley from Attractive to In-line. Stocks are up 10% to 15% from their lows, though fourth-quarter orders will likely fall short of expectations.
were also downgraded to Underweight. On the other hand, the rating on
was raised to Overweight, given its relatively low exposure to DRAM and expectations for market share gains.
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This article was written by a staff member of TheStreet.com.