CHANGE IN RATINGS
upgraded at JP Morgan:FUL was upgraded from Neutral to Overweight, JP Morgan said. Valuation appears attractive, based on the company's high free cash flow. Company also highly leveraged to lower raw materials pricing.
downgraded at Morgan Stanley: Morgan Stanley downgrades Innerworkings from overweight to equalweight with a $16 price target.
Investment Tech. Group
upgraded at JP Morgan: ITG was upgraded from Neutral to Overweight, JP Morgan said. Recent pullback creates an opportunity, as the company should continue to gain market share in 2007.
downgraded at Citigroup: LPNT was downgraded from Buy to Hold, Citigroup said. $40 price target. New analyst believes the company continues to struggle integrating the Province Healthcare purchase.
upgraded at Prudential: Prudential said it is upgrading MEL to an Overweight rating to reflect targeted margin improvement and structural improvements.
target lowered at Goldman: Goldman said it is cutting its target on MRVL to $23 from $24 after company reported Q3 results inline with previous guidance. Business momentum remains weak, but see Q4 as last poor quarter, with several drivers ramping in following quarters. Maintained Buy rating.
downgraded at Prudential: Prudential said it is downgrading MRVL to an Underweight rating due to unfavorable risk-reward following quarter.
numbers lowered at Jefferies: SANM estimates lowered at Jefferies. Lowers 2007 EPS estimates from $0.36 to $0.24 and 2008 drops from $0.44 to $0.32. Reiterating hold.
estimates raised: TTEK CY07 revenue estimate and price target raised at Jefferies. Revenue goes to $958.6 from $953.9. Price target lifts to $23.00 from $21.00. Reiterating buy.
downgraded at Citigroup: WYNN was downgraded from Buy to Hold, Citigroup said. Valuation call, as the stock is up 73% year-to-date. $89 price target.
downgraded at Bear Stearns: Bear Stearns downgrades Xilinx to peer perform from outperform due to the belief that the shares are fully valued at this level.
upgraded at Oppenheimer: Oppenheimer upgrades Yahoo! from neutral to buy and establishes a $32 12 month price target. Company believes Yahoo's outlook will improve considerably over the next year.
STOCK COMMENTS / EPS CHANGES
price target raised at Jefferies: ADSK price target goes to $43 from $40. Raises FY08 EPS to $1.85 from $1.82. Introduces FY09 EPS of $2.15. Buy rating reiterated.
revenue estimates raised: BRC revenue estimates raised by Jefferies. 2007 estimates upped to $1,304.2m from $1,261. 2008 estimates upped to $1,437.9 from $1,389.0. Reiterating hold.
numbers raised at Jefferies: FL target upped to $28 from $26.50. FY07 estimates bumped up to $1.77 from $1.73. Buy rating reiterated.
price target lowered at Jefferies: GPS price target lowered to $16.25 from $19.50 on downward EPS guidance by management. Reiterating hold.
estimates raised at Prudential: Prudential said it is raising its 2007 estimates on HPQ by 16 cents to $2.43 a share following strong quarterly results and forward guidance. Maintained Underweight rating.
target raised at Goldman: Price target on LTD increased to $32 from $28, Goldman said. See favorable position for holiday season and positive acquisition of La Senza, a Canadian intimate apparel company. Maintained Neutral rating.
estimates lowered at Jefferies: Jefferies lowers FY07 and FY08 EPS estimates for MRVL. Estimates for FY07 drop to $0.60 from $0.69 and FY08 drops to $0.56 from $0.70. Reiterating buy.
estimates lowered at Jefferies: MSCC estimates lowered at Jefferies. 2007 EPS estimate drops to $1.14 from $1.29 and revenue estimates drop to 442.5m from 447.9m. Reiterating hold.
numbers lowered at Jefferies:Pantry price target and estimates lowered to $48 from $53 and $2.90 from $3.25 on disappointing guidance. Reiterating hold.
price target lowered at Goldman: Goldman says it is cutting its target on SHLD to $184 from $188 after company missed Q3 estimates. Downside driven by weak gross margins and -4.8% apparel comps. Maintained Neutral rating.