Arrow Electronics

(ARW) - Get Report

coverage initiated at Goldman with a Buy rating based on improving components distribution. Note attractive valuation and potential upside to conservative earnings guidance. Price target at $30.


(AVT) - Get Report

coverage initiated at Goldman Sachs with a Neutral rating. Expect company to benefit from components recovery, but see greater upside potential in ARW. Price target at $26.

Continental Airlines

(CAL) - Get Report

upgraded at JPMorgan to Overweight from Neutral based on relative weakness. Shares are down 33% since April 21, much more than other airlines. Believe washed out sentiment led to over-correction. Maintained $13 target.

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(DOV) - Get Report

upgraded at BofA Merrill. Rating raised to Buy from Neutral. Price target raised to $45.00 from $34.50. 2009 EPS estimates maintained at $2.00.


(FE) - Get Report

downgraded at Merrill/BofA from Buy to Neutral. Estimates also cut ahead of the analyst meeting, because of limited visibility.



upgraded at Jefferies to Buy from Hold based on potential asset sales. Maintained target of $6.50.

Medicis Pharma


downgraded at Thomas Weisel to Market Weight from Overweight. Switching to a new formulation and a decrease in consumer spending has led to the decline in ratings. Target price lowered to $18 from $20.

SunTrust Banks

(STI) - Get Report

upgraded at Morgan Keegan to Outperform from Market Perform. Citing that dilution concerns have passed and compelling valuations provide attractive entry points.


American Express

(AXP) - Get Report

price target higher at Goldman, raised to $28 from $26. Company is raising $500 million, which is less than originally expected and will result in only 2% share dilution. Maintained Neutral rating.

Burger King


numbers lowered at UBS to $17.50. Estimates also cut, to reflect lower sales and restaurant margins. Neutral rating.



target raised at Credit Suisse to $29 from $28. Recent indications suggest they will meet high end of 2Q09 guidance. Maintained Outperform rating.



target boosted at Barclays to $33. Earnings will likely hold up better than during previous downturns. Overweight rating.


(CIEN) - Get Report

target raised at Credit Suisse to $10 from $6. Long term guidance and a strong competitive position in the optical infrastructure market led to the raise in numbers. Maintained Neutral rating.


(GNW) - Get Report

target increased at Barclays to $9. Just had a positive meeting with management, and the stock could continue to recover. Overweight rating.

Joy Global


target raised at Barclays to $39. Company will likely see a higher multiple, as customer spending could remain steady. Overweight rating.


(JPM) - Get Report

estimates raised at Morgan Stanley through 2011. Company raised less equity than expected to repay TARP. Overweight rating and $60 price target.

King Pharmaceuticals


target raised at Goldman to $11 from $10 based on recent specialist survey that showed increasing focus on opioid abuse. Note favorable physician views of Embeda, Remoxy and Acurox. Maintained Buy rating.

Pepsi Bottling


target increased at UBS to $39. PEP will ultimately pay more for the bottler, because of the attractive, potential cost savings. Buy rating.


(PEP) - Get Report

estimates, target raised at UBS to $62. Estimates also increased because of declining input costs and potential productivity savings. Buy rating.


(STI) - Get Report

target raised at Credit Suisse to $15 from $14. Cites a comprehensive plan to secure capital levels will increase their tangible common equity ratio. Maintained Neutral rating.

Texas Instruments

(TXN) - Get Report

numbers raised at Barclays through 2010. Expect better utilization and cost savings ahead of the upcoming mid-quarter update. Equal-weight rating and new $21 price target.


(WEN) - Get Report

numbers cut at UBS through 2010. Company is seeing same-store sales decline rapidly at Arby's. Neutral rating and new $4.90 price target.

This article was written by a staff member of