Change in Ratings
downgraded at Jefferies to underperform from hold. Price target lowered to $17 from $19. Maintains 2008 EPS estimates of $1.07.
downgraded at Jefferies from hold to buy. 2008 EPS estimates raised to $1.60 from $1.57. Maintains $48 price target.
upgraded at Keefe, Bruyette and Woods to outperform with a $32 price target. NPL's and NCO's are expected to continue to rise and the conservative credit culture and strong capital will sustain the company's dividend.
upgraded at Citigroup to hold from sell with a $27.50 price target. After a 20% decline in share value this year the stock is now approaching its fair value. Fourth quarter 2008 EPS lowered to 55 cents from 57 cents and fiscal year 2009-2010 estimates reduced by 5 cents each to reflect the impact of high energy costs, costs of international expansion and a recent faculty fire.
Community Health Systems
upgraded at Citigroup to hold from sell with a $33 price target. The stock is trading just below its $33 price target and the risk/reward is now viewed as more limited. It is also believed that CYH will meet second-quarter 2008 estimates.
( FO) downgraded at Wachovia to market perform. Cost pressures from steel and particle board look to have offset cost saving initiatives deferring these potential benefits
( GENZ) initiated at UBS with a buy rating and $86 price target. Introduces 2008 EPS estimates of $3.48.
downgraded at Deutsche to hold with a $10 price target. A slowing ad market could possibly delay the company's ability to get peer-level margins.
Cramer: What Merrill Upgrade Means for XM-SIRI
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upgraded at Credit Suisse to outperform from neutral based on valuation. Believes cyclical fundamentals are bottoming. Raised target price to $45 from $35.
New York Times
upgraded at Deutsche to hold from sell with a $15 price target. The current valuation relative to peers is justified through the company's long-term growth prospects. Fiscal year 2008 EPS estimate dropped to 91 cents from $1.02 due to increased forecast for the cost of newsprint.
upgraded at RBC to sector perform rating from underperform. Price target and fiscal year 2009 EPS estimates hold at $1.50 and 26 cents, respectively.
initiated at UBS with a buy rating and $35 price target. Introduces 2008 EPS estimates of $2.04.
Sirius Satellite Radio
upgraded at Merrill to buy from neutral with $2.70 price target. Buy rating was initiated due the stock's current price weakness and a bullish management guidance for 2009. Weak auto sales present a short-term risk, but should only have a minor impact on long-term value.
downgraded at Merrill to underperform from neutral with a $28 price target. 2008/09 EPS lowered to $2.85/$3.20 from $3.05/$3.47 to reflect high exposure to the automotive sector.
downgraded at Jefferies to underperform from hold. Price target lowered to $21 from $23. Fiscal 2009 EPS estimates raised to $1.47 from $1.42.
Stock Comments/EPS Changes
numbers lowered at Jefferies. Price target lowered to $27 from $35. 2008 EPS estimates lowered to $1.40 from $1.70. Maintains hold rating.
estimates raised at Goldman Sachs by a penny to $1.75 based on listings tracking and channel checks. Note stronger-than-expected listings offset by lower-than-expected conversion rates. Maintained buy rating and $38 target.
target price cut at Credit Suisse to $38 from $55 based on weaker global economic prospects and higher oil prices. Maintained neutral rating.
numbers raised at Jefferies. 2008 EPS estimates raised to $4.40 from $3.60. Price target raised to $93 from $75. Maintains buy rating.
numbers lowered at UBS. 2008 EPS estimates lowered to -$5.25 from -$2.85. Price target lowered to $19 from $22. Maintains neutral rating.
numbers lowered at Jefferies. Fiscal 2009 EPS estimates lowered to $3.10 from $4.37. Price target lowered to $48 from $57. Maintains hold rating.
This article was written by a staff member of TheStreet.com Ratings.