CHANGE IN RATINGS
downgraded at Piper to a Market Perform rating as industry checks indicate weakening semiconductor recovery. Channel inventory replenishment likely delayed.
Fidelity National Financial
downgraded at Piper to a Market Perform rating due to lower title orders. Reduction partially tied to housing market and spike in interest rates. Lower mortgage volumes expected.
coverage initiated at FBR with an Outperform rating and a $24 target price. Rating based on refocus on merchant-led organization, focus on expense control, leveraging market budget, and capitalizing on company's strong brand equity and awareness.
downgraded at Piper to a Market Perform rating due to near-term growth uncertainty. Target price cut to $39.
upgraded at CIBC to Sector Outperform from Sector Performer. Says business fundamentals remain healthy. Raised target price to $98 from $70.
downgraded at FBR to a Market Perform rating following announcement of acquisition of Tegic Communications. Deal appears risky.
STOCK COMMENTS / EPS CHANGES
numbers raised at Jefferies. Price target jumps to $66 from $53 and FY 2008 eps estimates rise to $3.90 from $3.78. Reiterates Hold rating.
target price raised at Credit Suisse to $76 from $71 based on sum of parts analysis. Maintained Neutral rating.
target raised at Piper to $55 to reflect rolling forward of estimates as visibility continues to improve on growth initiatives. Maintained Outperform rating.
target raised at Goldman by $2 to $52 to reflect a more robust outlook for petrochemical joint ventures. Maintained Neutral rating.
2007 estimates raised at Goldman by a penny to $1.35 a share to reflect accelerating U.S. listings growth.
numbers lowered at Jefferies. Price target drops to $48 from $54.50 and FY 2008 eps estimates lowered to $3.25 from $3.30. Reiterates Hold rating.
2008 estimates cut at Morgan Stanley to $1.33 a share to reflect lower-than-expected guidance. Maintained Equal-weight rating.
price target raised at UBS. New price object lifts to $190 from $160 and FY 2008 eps estimates hold at $5.95. Reiterates Buy rating.
target raised at Deutsche to $104 to reflect increasing valuations for land on the strip, higher multiples on gaming companies, and the new Kerzner JV. Maintained Buy rating.
2007 estimates cut at Goldman by 2 cents to 87 cents a share following management update.
target price raised at Jefferies to $20 from $13. Says company booked enough orders to meet high-end of estimates and future potential is positive. Maintained Buy rating.
target price raised at Credit Suisse to $31 from $28 after solid Q4 results. Maintained Neutral rating.