Friday's Analysts' Upgrades, Downgrades
Change in Ratings
America Movil
(AMX) - Get America Movil S.A.B. de C.V.n Depository Receipt Series L Report
downgraded at Goldman Sachs to neutral from buy after first-quarter EBITDA missed expectations. See less attractive growth profile based on poor Mexico numbers. Price target lowered to $72 from $80.40.
Celestica
(CLS) - Get Celestica Inc. Report
upgraded at CIBC. Rating raised to sector outperformer from sector performer. Price target raised to $12 from $7. Raised 2008 EPS estimates to 80 cents from 58 cents.
Kroger
(KR) - Get Kroger Company (The) Report
upgraded at Goldman Sachs to buy from neutral based on fundamentals and recent relative underperformance vs. other consumer discretionary and staples subsectors. Note catalysts including monthly PPI/CPI data, benefits from fiscal stimulus package, and solid operating margins. Price target at $31.
Wal-Mart
(WMT) - Get Walmart Inc. Report
upgraded at Merrill Lynch to buy based on traction in turnaround efforts and potential multiple expansion. See less canibalization from new stores, continued improvement in merchandise and operations, share gains and some benefits from government tax rebates. Price target at $65.
Newmont Mining
(NEM) - Get Newmont Corporation Report
upgraded by CIBC to sector performer from sector underperformer. Price target increased to $65 from $63. Maintains 2008 EPS estimates of $3.16.
Tenet Healthcare
TheStreet Recommends
(THC) - Get Tenet Healthcare Corporation Report
upgraded at Credit Suisse to outperform from neutral based on improving hospital pricing trends and progress in THC's recovery. Price target raised to $8 from $6.
Wendy's
(WEN) - Get Wendy's Company (The) Report
upgraded at Goldman to neutral from sell based on merger announcement with
Triarc
( TRY). WEN shareholders receive 4.25 shares of Triarc per share. First-quarter results came in below expectations. Price target at $27.
Stock Comments/EPS Changes
AmeriCredit
( ACF) 2008 EPS estimates lowered at Jefferies to 88 cents from 98 cents. Maintains hold rating and $11 price target.
Autodesk
(ADSK) - Get Autodesk Inc. Report
numbers raised at Jefferies. Fiscal 2009 EPS estimates raised to $2.25 from $2.20. Price target increased to $41 from $40. Maintains hold rating.
Autodesk numbers raised at UBS. 2008 EPS estimates increased to $1.76 from $1.72. Raised price target to $40 from $38. Maintains neutral rating.
American Express
(AXP) - Get American Express Company Report
2008 EPS estimates raised at UBS to $3.05 from $2.95. Maintains sell rating and $45 price target.
Biogen Idex
(BIIB) - Get Biogen Inc. Report
2008 EPS estimates raised at Jefferies to $3.43 from $3.29. Maintains hold rating and $63 price target.
Chubb
(CB) - Get Chubb Limited Report
numbers raised at UBS. 2008 EPS estimates raised to $6.15 from $6.10. Price target raised to $58 from $54. Maintains neutral rating.
Crown Castle International
(CCI) - Get Crown Castle International Corp. (REIT) Report
numbers raised at Jefferies. 2008 EPS estimates raised to -22 cents from -34 cents. Price target raised to $45 from $41. Maintains buy rating.
Rockwell Collins
(COL)
2008 EPS estimates raised at Jefferies to $4.05 from $4.00. Maintains hold rating and $71 price target.
Columbia Sportswear
(COLM) - Get Columbia Sportswear Company Report
numbers lowered at UBS. 2008 EPS estimates lowered to $3.20 from $3.40. Price target cut to $44 from $48. Maintains neutral rating.
ConocoPhillips
(COP) - Get ConocoPhillips Report
2008 EPS estimates raised at UBS to $11.69 from $10.72. Maintain buy rating and $89 price target.
Complete Production Services
( CPX) numbers raised at Jefferies. 2008 EPS estimates raised to $2.40 from $2.20. Price target raised to $38 from $35. Maintains buy rating.
Diamond Offshore Drilling
(DO) - Get Diamond Offshore Drilling Inc. Report
price target raised at Jefferies. Price target raised to $148 from $125. Lowers 2008 EPS estimates to $10.11 from $10.23. Maintains buy rating.
Electronic Data Systems
(EDS)
numbers raised at Jefferies. 2008 EPS estimates raised to $1.45 from $1.34. Price target increased to $21 from $19. Maintains hold rating.
Emulex
(ELX)
numbers lowered at UBS. 2008 EPS estimates lowered to 94 cents from $1.00. Lowers price target to $17 from $21. Maintains buy rating.
Ensco
(ESV)
price target raised at Jefferies to $74 from $66. 2008 EPS estimates lowered to $8.52 from $8.67. Maintains hold rating.
Goodrich
( GR) 2008 EPS estimates raised at Jefferies at $4.50 from $4.25. Maintains hold rating and $75 price target.
Juniper Networks
(JNPR) - Get Juniper Networks Inc. Report
2008 EPS estimates raised at UBS to $1.01 from 98 cents. Maintains buy rating and $30 price target.
Kirby
(KEX) - Get Kirby Corporation Report
numbers raised at Jefferies. 2008 EPS estimates raised to $2.89 from $2.71. Price target raised to $55 from $47. Maintains hold rating.
Kennametal
2008 EPS estimates raised at UBS to $2.73 from $2.70. Maintains neutral rating and $32 price target.
L-3 Communications
(LLL) - Get JX Luxventure Limited Report
numbers raised at Jefferies. 2008 EPS estimates raised to $6.70 from $6.60. Price target raised to $120 from $110. Maintains hold rating.
McAfee
( MFE) numbers lowered at Jefferies. 2008 EPS estimates lowered to $1.85 from $1.90. Price target lowered to $40 from $43. Maintains buy rating.
McAfee numbers raised at UBS. 2008 EPS estimates raised to $1.60 from $1.53. Price target raised to $37 from $36. Maintains neutral rating.
Microsoft
(MSFT) - Get Microsoft Corporation Report
numbers raised at Jefferies. 2008 EPS estimates increased to $2.15 from $2.12. Price target increased to $35 from $33. Maintains buy rating.
Noble Corporation
(NE) - Get Noble Corporation plc Report
numbers raised at Jefferies. 2008 EPS estimates raised to $5.85 from $5.80. Price target raised to $62 from $53. Maintains hold rating.
Newfield Exploration
(NFX)
numbers raised at Jefferies. 2008 EPS estimates raised to $3.13 from $2.34. Price target increased to $79 from $63. Maintains buy rating.
Northrop Grumman
(NOC) - Get Northrop Grumman Corporation Report
2008 EPS estimates raised at Jefferies to $5.10 from $5.00. Maintains hold rating and $87 price target.
Penn National Gaming
(PENN) - Get Penn National Gaming Inc. Report
2008 EPS estimates raised at Jefferies to $2.09 from $1.96. Maintains buy rating and $57 price target.
RSC Holdings
(RRR) - Get Red Rock Resorts Inc. Report
numbers lowered at UBS. 2008 EPS estimates lowered to $1.50 from $1.55. Price target lowered to $14 from $15. Maintains buy rating.
Raytheon
(RTN) - Get Raytheon Company Report
2008 EPS estimates raised at Jefferies to $3.95 from $3.85. Maintains hold rating and $70 price target.
Starbucks
(SBUX) - Get Starbucks Corporation Report
numbers lowered at UBS. 2008 EPS estimates cut to 85 cents from 98 cents. Price target lowered to $19 from $24. Maintains buy rating.
EW Scripps
(SSP) - Get E.W. Scripps Company (The) Report
2008 EPS estimates raised at Jefferies to $2.55 from $2.50. Maintains hold rating and $46 price target.
Southwestern Energy
(SWN) - Get Southwestern Energy Company Report
numbers raised at UBS. 2008 EPS estimates raised to $3.25 from $2.80. Price target raised to $47 from $46. Maintains buy rating.
Sybase
( SY) numbers raised at Jefferies. 2008 EPS estimates raised to $1.98 from $1.90. Price target raised to $32 from $30. Maintains hold rating.
T. Rowe Price
(TROW) - Get T. Rowe Price Group Inc. Report
price target raised at Jefferies to $67 from $54. 2008 EPS estimates lowered to $2.48 from $2.51. Maintains buy rating.
Tupperware
(TUP) - Get Tupperware Brands Corporation Report
numbers raised at Jefferies. 2008 EPS estimates increased to $2.80 from $2.60. Price target raised to $53.50 from $50.00. Maintains buy rating.
UHS
(UHS) - Get Universal Health Services Inc. Report
numbers raised at UBS. 2008 EPS estimates raised to $3.85 from $3.45. Price target raised to $70 from $66. Maintains buy rating.
Western Digital
(WDC) - Get Western Digital Corporation Report
price target lowered at UBS to $31 from $33. 2008 EPS estimates raised to $4.14 from $4.00. Maintains neutral rating.
This article was written by a staff member of TheStreet.com Ratings.
