CHANGE IN RATINGS
upgraded at Jefferies to Hold rating from Underperform. However, price target dips to $5 from $5.50 and 2007 EPS estimates slashed to loss of ($0.09) from gain of $0.10.
( BOBJ) downgraded at Credit Suisse to Neutral from Outperform based on valuation. Stock has essentially reached its $46 target price.
upgraded at Bear Stearns from Peer Perform to Outperform. $12 price target. See near-term revenue upside potential, led by the Daltonic's unit.
downgraded at Bear Stearns from Outperform to Peer Perform. Sprint deal is in flux, and will at least be delayed.
( ERTS) downgraded at Bear Stearns to Neutral from Outperform based on valuation. Believes risk/reward no longer warrants its top rating.
upgraded at UBS to Neutral rating from Sell. Price target lifts to $32 from $28 and 2008 EPS estimates upped to $1.45 from $1.35.
downgraded at Wachovia to Market Perform. Recent channel checks suggest that multiple businesses are experiencing weakness. Estimates also lowered.
upgraded at Morgan Stanley from underweight to equalweight, but lowers price target from $35 to $32.
downgraded at Suntrust Robinson Humphrey from Buy to Neutral. Stock is up 20% on the year, but would wait for the $30's to become more aggressive.
T. Rowe Price
downgraded at UBS to Neutral rating from Buy. However, price target lift to $63 from $59 and 2008 EPS estimates upped to $2.80 from $2.76.
STOCK COMMENTS / EPS CHANGES
target boosted at Bear Stearns. GOOG now seen reaching $700 a share. Estimates continue to rise as the company's fundamentals continue to improve. Outperform rating.
Google target price raised at Nollenberger to $650 from $575. Believes European paid search spending was exceptionally strong in Q3. Maintained Buy rating.
Plum Creek Timber
2007 estimates cut at Goldman to $1.38 from $1.50 after management cut guidance based on lower timber volumes due to a fire in Montana, depressed sawlog pricing, and delayed closing of several land sales. Maintained Neutral rating.
Research in Motion
( RIMM) price target raised at Goldman to $147 from $117 based on increased confidence that company can sustain 35%-45% earnings growth for the next three years. Company will launch new version of the Pearl, the Unite software offering, and new GPS capabilities with Google. Maintained Buy rating.
price target cut at Goldman to $13 from $16.50. Weak Q3 results were driven by terrible gross margins. Company is facing pressure due to market share losses in Posturepedic models, competitive pricing pressure, higher raw material costs, and continued consumer shift to specialty bedding. Maintained Neutral rating.