CHANGE IN RATINGS
downgraded at Deutsche from Buy to Hold. $65 price target. Looser supply should hurt specialty fertilizer prices.
Energy Conversion Devices
( ENER) upgraded at Piper Jaffray is upgrading ENER to Buy from Neutral following strong Q2 results that showed strength in Italy & France. Note that price declines are less than feared and company will be a prime beneficiary of pending legislation in the U.S. Price target raised to $33 from $25.
rated new Hold at Citigroup. $16 price target. Company has significant market potential and an impressive pipeline, but faces multiple challenges.
downgraded at Citigroup from Buy to Hold. $23 price target. Industry is entering a price war, aided by WMT.
upgraded at Goldman Sachs to Neutral from Sell. Believe two primary negative catalysts have now passed. First, Q4 results included weak guidance for Q1. Second, US and French payroll data showed accelerating deterioration in labor fundamentals. Believe negative news is priced into shares. Price target raised to $29 from $20.
downgraded at Pali from Buy to Neutral. Valuation call, as the company lowered its growth outlook.
downgraded at Citigroup from Hold to Sell. $18 price target. Estimates also cut, to reflect lower margins because of a likely industry pricing war.
downgraded at Susquehanna from Positive to Neutral. Estimates also cut, as Las Vegas fundamentals continue to deteriorate.
( XTO) upgraded at RBC to Outperform from Sector Perform with $57 price target. RBC notes that XTO has very low cost structure and a tremendous hedge position that secures much of 2009 cash flow outlook.
STOCK COMMENTS / EPS CHANGES
numbers raised at UBS to $30. Estimates also increased, to reflect higher organic growth and a lower tax rate. Neutral rating.
numbers cut at UBS to reach $26. Estimates also lowered, to reflect the difficult retail environment. Neutral rating.
estimates cut through 2010, target lowered at Morgan Stanley. Company is facing currency and pension headwinds, while price competition is heating up. Neutral rating and new $39 price target.
numbers cut at Barclays to $30. Estimates also lowered, given the company's higher fixed cost level. Overweight rating.
This article was written by a staff member of TheStreet.com.