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Best Buy: Analysts' Upgrades, Downgrades

Best Buy price target lower at Citi, Credit Suisse and Barclays.
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BHP Billiton


downgraded at JP Morgan to Underweight from Neutral.

Balley Technologies


downgraded at Goldman to Sell from Neutral as replacements will be slow to ramp. Price target cut to $35 from $44.



initiated at Jefferies with a Buy rating and $75 price target.

DreamWorks Animation


downgraded at Goldman to Neutral from Buy. "Shrek" franchise has over-saturated the market, Goldman Sachs added. Price target cut to $35 from $42.

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International Game Technology


downgraded at Goldman to Sell from Neutral. Goldman Sachs downgraded the slot sector to cautious as there may be no material pickup until 2012. Price target lowered to $17 from $21.

JPMorgan Chase


initiated at FBR Capital with an Outperform rating and $45 price target. JPMorgan's universal bank model enables it to mitigate external pressures better than peers through capital redeployment opportunities.

Orient Express Hotels


upgraded at Goldman to Neutral from Sell on valuation. Price target set at $8.50.

ON Semiconductor


upgraded at BMO Capital to Outperform from Market Perform. Maintain $9 price target.


upgraded at Goldman to Buy from Neutral as secular growth outweighs devaluation in euro. Price target increased to $240 from $230.

Synovus Financial


upgraded at Credit Suisse to Neutral from Underperform on valuation. Price target jumped to $3.50 from $3.00.




price target raised at Piper Jaffray to $348 from $330. Maintain Buy

Alexandria Real Estate Equities


estimates cut at Barclays. ARE 2010 and 2011 EPS estimates sunk to $3.59 and $4.70, respectively, to reflect a charge from outstanding convertible bonds. Reiterate Overweight rating.

Best Buy


price target lower at Citi. BBY price target cut to $45 from $48 after disappointing first quarter results, Citigroup said. Reiterate Hold rating.

Best Buy


price target lower at Barclays by a dollar to $52 as first quarter results were below expectations. Maintain Overweight rating.

Best Buy


price target sunk at Credit Suisse. BBY shares now seen reaching $48, down from $56, on weak comparable store sales. BBY has most promise relative to its competition, but every few quarters the stock get derailed by some negative surprise. Outperform rating.

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Korn/Ferry International


price target higher at Credit Suisse by a dollar to $18 on strong 4Q10 results. 2011 and 2012 EPS estimates lifted to $0.85 and $1.06, respectively. Maintain Neutral rating.

Marsh & McLennan


price target raised at Citi. MMC price target increased to $27 from $25 on better visibility. Maintain Buy rating.


J.M. Smucker Company


price target trimmed at Goldman by a dollar to $66. Negative bias heading into 4Q10 results this Thursday.

This article was written by a staff member of