CHANGE IN RATINGS
downgraded at Goldman Sachs to Neutral from Buy. Shares recently reached price target of $27.50, creating less attractive risk/reward. See continuing strength driven by improvements in motherboard shipments and upcoming launch of Intel's Santa Rosa platform for notebooks. Maintained $27.50 target.
downgraded at Bear Stearns from Outperform to Peer Perform. Stock is already up 37% on the year, and has surpassed the $27 price target.
( MEDI) downgraded at FBR to Market Perform rating from Market Outperform. Price target and 2007 EPS estimates hold at $44 and $0.92, respectively.
MedImmune downgraded at Prudential to Neutral from Overweight following the announcement that its board of directors has authorized the hiring of an investment to help put company up for sale. Believe profit taking is logical, especially given that shares have already run up due to takeout speculation. Price target remains $40.
upgraded at Wachovia to Outperform based on solid performance in Industrial and Consumer segments. Says valuation is between $46 to $47 a share.
upgraded at Goldman Sachs to Neutral from Sell based on continued revenue strength above consensus expectations. Company handled its patent expirations better than others. Management raised Q1 guidance to $0.84 from previous range of $0.63-$0.67. Price target increased to $52 from $43.
upgraded at JP Morgan from Underweight to Neutral. Management has made sweeping changes in recent quarters, and margins should continue to expand this year.
was upgraded from Peer Perform to Outperform at Bear Stearns. $56 price target. Company continues to deliver solid growth, and the recent pullback has created an attractive entry point.
STOCK COMMENTS / EPS CHANGES
target raised to $160 a share at Morgan Stanley. Estimates also raised, as the company continues to generate organic sales growth. Management is also cutting costs and buying back stock. Overweight rating.
Goldman is raising its 2007 estimates on
to $5.82 from $5.70. Believe current consensus estimates understate both core organic growth and margin expansion. Also see company guidance as conservative. Price target raised to $105 from $95 and reiterated Buy rating.
numbers raised at UBS. Price target moves to $70 from $63 and 2008 EPS estimate rise to $4.35 from $3.99. Reiterates Buy rating.
Lam Research numbers upped at Morgan Stanley through 2008. Company boosted guidance, and growth should accelerate into the second half of the year. Overweight rating and new $62 price target.
target price raised at Credit Suisse to $13 from $10 based on improved outlook. Maintained Outperform rating.