Caterpillar: Analysts' Upgrades, Downgrades - TheStreet

Caterpillar: Analysts' Upgrades, Downgrades

CAT gets upgraded at Morgan Stanley from Underweight to Overweight.
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CHANGE IN RATINGS

Air Products

(APD) - Get Report

downgraded at Citigroup from Buy to Hold. $73 price target. ARG bid will likely draw out for several months, and may have to raise it offer.

Air Products

(APD) - Get Report

target lowered at UBS to $84. Company would have to take on significant debt if its buys ARG. Buy rating.

Biomarin Pharma

(BMRN) - Get Report

upgraded at Roth from Hold to Buy. $23 price target. Sales of 3 existing drugs should continue to grow.

Caterpillar

(CAT) - Get Report

upgraded at Morgan Stanley from Underweight to Overweight. $70 price target. Expect an increased pace of cyclical acceleration.

Brinker

(EAT) - Get Report

upgraded at Suntrust from Neutral to Buy. $20 price target. Valuation call, as the company has eliminated most refinancing concerns.

Electronic Arts

(ERTS)

downgraded at Needham from Buy to Hold. No longer see significant growth through 2012.

Electronic Arts

(ERTS)

numbers reduced at FBR. ERTS estimates were cut through 2011. Company lowered guidance for a variety of reasons. Outperform rating and new $20 price target.

Fossil

(FOSL) - Get Report

initiated at Barclays with an Equal Weight rating and $35 price target. Fossil has established itself as a leading global accessory company. 2009 and 2010 EPS estimates introduced at $1.95 and $2.25, respectively.

Fulton Financial

(FULT) - Get Report

initiated at Barclays with an Overweight rating and $11 price target. Analysts noted significant slowing in the rate of credit deterioration at the commercial bank. 2010 and 2011 EPS estimates set at $0.67 and $0.93, respectively.

GameStop

(GME) - Get Report

downgraded at Credit Suisse to Neutral from Outperform on worries about aggressive pricing from Wal-Mart and Amazon. Price target cut to $25 from $28.

Ingersoll-Rand

(IR) - Get Report

upgraded at Morgan Stanley from Underweight to Equal-weight. $36 price target. Seeing signs of an improvement in the HVAC and security markets.

CarMax

(KMX) - Get Report

upgraded at Credit Suisse. KMX upgraded to Neutral from Underperform on belief that used car sales will be higher than new car sales. Price target surged to $23 from $15. 2010 and 2011 EPS estimates increased to $1.15 and $1.20, respectively.

Lamar Advertising

(LAMR) - Get Report

upgraded at Wells to Outperform. Checks show that advertising growth continues to accelerate this quarter.

Monsanto

(MON)

upgraded at BofA/Merrill to Buy from Neutral on attractive prospects in corn seed and a slightly more constructive outlook for Roundup. Price target goes to $96 from $94. 2010 and 2011 EPS estimates set at $3.25 and $4.30, respectively.

PetSmart

(PETM)

upgraded at Credit Suisse. PETM upgraded to Outperform from Neutral. PETM offers safety given its consumable exposure. Recent volume signs are positive. Price target raised to $29 from $25.

Pinnacle West Capital

(PNW) - Get Report

reinstated at Barclays with an Equal Weight rating and $35 price target. 2009 and 2010 EPS estimates set at $2.33 and $3.01, respectively.

Rockwell Automation

(ROK) - Get Report

upgraded at Morgan Stanley from Underweight to Equal-weight. $57 price target. Company has strong operating leverage.

Susquehanna Bancshares

(SUSQ)

initiated at Barclays with an Equal Weight rating and $9 price target. Credit trends stabilizing. 2010 and 2011 EPS estimates introduced at 24 cents and 64 cents, respectively.

UPS

(UPS) - Get Report

upgraded at Argus from Hold to Buy. $70 price target. Expect volume and earnings to accelerate for the remainder of the year.

Voltaire

(VOLT) - Get Report

downgraded at BofA/Merrill to Neutral from Buy on belief that investors will wait for profitability before ascribing a high valuation. $6.50 price target.

Exco Resources

(XCO)

upgraded at Goldman from Neutral to Buy. $25 price target. Stock has pulled back, and the company has attractive exposure to the Haynesville and Marcellus shales.

STOCK COMMENTS / EPS CHANGES

Atmel

(ATML)

estimates, target raised at Goldman. Shares of ATML now seen reaching $5. Estimates were also upped, to reflect strength in the MCU business. Neutral rating.

Allegheny Energy

(AYE)

numbers increased at Morgan Stanley. Shares of AYE now seen reaching $27. Estimates also upped, because of higher generation output. Overweight rating.

Eastman Chemical

(EMN) - Get Report

estimates, target boosted at Barclays. Shares of EMN now seen reaching $60. Estimates also raised, as the company is seeing lower raw material and fixed costs. Equal-weight rating.

Hasbro

(HAS) - Get Report

estimates, target boosted at UBS. Shares of HAS now seen reaching $36. Estimates also raised, because the company is seeing higher gross margins. Neutral rating.

Hartford

(HIG) - Get Report

estimates lowered at UBS. HIG estimates were cut through 2011. Company is guiding toward lower earnings. Buy rating and $35 price target.

Kennametal

(KMT) - Get Report

added to Conviction Sell List at Goldman. KMT was added to the Conviction Sell list. New $21 price target. Company is could be hurt by credit challenges in Europe.

Lincare

(LNCR)

target, estimates boosted at Credit Suisse. LNCR price target increased to $41 from $33 as quarter beats on accelerated organic growth. 2010 and 2011 EPS estimates lifted to $2.56 and $2.94, respectively. Maintain Neutral rating.

Lincare

(LNCR)

estimates, target upped at UBS. Shares of LNCR now seen reaching $39. Estimates also increased, as the company is seeing higher margins and buying back stock. Neutral rating.

Merck

(MRK) - Get Report

target, estimates boosted at Barclays to $43 from $40 ahead of 4Q09 results. 2009 and 2010 EPS estimates lifted to $3.26 and $3.48, respectively. Maintain Overweight rating.

Nuance Communications

(NUAN) - Get Report

numbers upped at FBR. Shares of NUAN now seen reaching $19. Estimates were also increased, because of an organic growth recovery. Outperform rating.

Principal Financial

(PEG) - Get Report

estimates cut at FBR. PFG estimates were lowered through 2011. Company is seeing lower premiums and assets under management. Market Perform rating and $26 price target.

Spirit Aerosystems

(SPR) - Get Report

cut from Conviction Buy List at Goldman. Stock has limited near-term catalysts. New $22 price target.

SolarWinds

(SWI) - Get Report

estimates boosted at FBR. SWI estimates were raised through 2011. Company is seeing better earnings, aided by cost controls. Outperform rating and $24 price target.

AT&T

(T) - Get Report

2010 estimate cut at Barclays to $2.19 from $2.26 to reflect margin pressure, 2011 maintained at $2.38. Reiterate Equal Weight rating and $30 price target.

Veeco

(VECO) - Get Report

numbers boosted at BofA/Merrill. VECO price target increased to $42 from $40 on sustained LED growth. 2010 and 2011 EPS estimates increased to $2.25 and $3.15, respectively. Maintain Buy.

Veeco Instruments

(VECO) - Get Report

estimates boosted at UBS through 2011. Company has good earnings momentum, with a strong backlog. Buy rating and $44 price target.

This article was written by a staff member of TheStreet.com.