CHANGE IN RATINGS
AEO was upgraded from Neutral to Buy at Suntrust, Robinson Humphrey. Company has a solid balance sheet and can deliver double-digit square footage growth. Comp sales should return to positive territory in the second half of the year. $33 price target.
upgraded at UBS to Buy rating from Neutral. Price target rises to $25 from $20 and 2008 EPS estimates lift to $1.40 from $1.20.
was downgraded from Hold to Sell at Citigroup. $54 price target. Up to 22% of the company's revenue could be at risk, because of the news coming out of the ODAC meeting. Estimates cut, and other potential negative catalysts are lurking.
Amgen was downgraded to Equal-weight at Morgan Stanley. $62 price target. Recent ODAC study cuts the potential for Aranesp sales.
Amgen was downgraded to Neutral at JP Morgan. ODAC panel decision comes as a surprise, and brings instability to the anemia franchise. Estimates also lowered.
was downgraded from Overweight to Neutral at Prudential. $25 price target. Consumption continues to fall, and the company's long-term merger synergies no longer appear attainable.
was downgraded from Buy to Hold at Deutsche Bank. $25 price target. Earnings will remain volatile, though the stock is a potential takeover candidate if it continues to trade at a discount to its peers.
was downgraded to Equal-weight at Morgan Stanley. Valuation call, as the stock is approaching the $23 price target. Market may also be too optimistic about the outlook for Skelaxin.
was downgraded to Hold at Citigroup. Valuation call, as the stock has made a sharp run toward $40. Board remains pro-active in turning the business around, and a takeout bid in the low-$40's is still a possibility.
STOCK COMMENTS / EPS CHANGES
price target increased at Goldman to $50 from $44 after company raised guidance and reported improving gross margins during April. Believe company is in renewed momentum stage. Maintained Buy rating.
numbers raised at Jefferies. Price target rises to $53 from $47 and 2008 EPS estimates lift to $3.34 from $3.32. Reiterates Buy rating.
target boosted at Morgan Stanley to $58. Company posted strong first quarter results across the board, and should be able to continue generating higher revenue with less marketing spend. Overweight rating.
2007 estimates reduced to $1.25 from $1.62 at Goldman. Company preannounced weak Q1 sales and earnings, as US results showed deterioration, compounding existing negative trends in Europe. Goldman has no rating or target on FL.
consulting numbers raised at UBS. Price target rises to $80 from $70 and 2008 EPS estimates lift to $3.15 from $3.00. Reiterates Buy rating.
price target raised at Goldman to $35 from $33 after the company reported strong Q1 results showing continued market share gains and margin expansion. Remains a favorite in semi space but see limited upside left. Maintained Buy rating.
estimates raised at Morgan Stanley through 2009. Company is buying back more stock than expected, and should be able to deliver above-average earnings growth over the next several quarters. Overweight rating.