CHANGE IN RATINGS
downgraded at J.P. Morgan to Neutral from Overweight based on declines in Mexican mobile traffic. Expect 2009 earnings will come in below existing consensus. Price target cut to $34 from $41.
downgraded at UBS from Buy to Neutral. $7 price target. Valuation call, based on risks related to the outcome of recent lorcaserin trials.
rated new Outperform at Oppenheimer. $73 price target. Revlimid and Vidaza should drive sector-leading growth.
downgraded at Merrill Lynch/Bank of America from Buy to Neutral. $30 price target. Estimates also cut, to reflect negative operating leverage and higher expected taxes.
upgraded at Goldman Sachs to Neutral from Sell due to lower downside risk to earnings. Shares declined 18% since being added to Sell list on Feb 1, 2009. Believe current valuation reflects ongoing risks, and note potential upside from UTP roll-out. Price target at $19.
upgraded at Citigroup from Hold to Buy. $37 price target. Life insurance business remains weak, though the stock is attractively valued and earnings and book value should grow over the coming quarters.
upgraded at Goldman Sachs to Neutral from Sell based on valuation and better than expected results at ADT and Fire businesses. Believe cycliical pressures are now more balanced compared to peers, and note that Electrical & Metal products business appears less risky with steel bottoming. Price target at $24.
STOCK COMMENTS / EPS CHANGES
numbers lowered at Barclays to $17. Estimates also cut, to reflect the sharp decline in orders. Equal-weight rating.
estimates cut at UBS through 2009. Company suffering from lower natural gas prices, though reiterated production guidance. Buy rating and $27 price target.
estimates raised at UBS through 2010. Company is losing market share in the spinal business, but gaining ground elsewhere. Buy rating and $49 price target.
estimates reduced at Morgan Stanley through 2010. Company hurt by lower assets under management and higher non-compensation expense. Equal-weight rating.
numbers cut at Barclays through 2010. Expect a guidance cut when the company posts quarterly results tomorrow. Equal-weight rating and new $23 price target.
numbers raised at Morgan Stanley through 2011. Management increased its synergy target, though risks remain around the approval of Lovenox. Equal-weight rating and new $46 price target.
estimates, target reduced at UBS. Shares of X now seen reaching $23. Estimates also cut, because of weak tubular results, as well as higher pension and CapEx costs. Sell rating.
This article was written by a staff member of TheStreet.com.