Intel: Analysts' Upgrades, Downgrades - TheStreet

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CHANGE IN RATINGS

Advanced Micro Devices

(AMD) - Get Report

upgraded to Outperform by FBR Capital Markets. $12.50 price target. Chip business is strong and the company is reducing its stake in GlobalFoundries.

Amazon.com

(AMZN) - Get Report

initiated with a Buy rating by MKM Partners with a $180 price target. The firm expects sizable growth in U.S. e-commerce sales in 2010.

Comerica

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upgraded from Market Perform to Outperform by BMO Capital Markets. $41 price target. Comerica is positioned well to benefit from rising interest rates and higher commercial loan growth, the firm said.

CapitalSource

(CSE)

upgraded to Overweight from Equal Weight by Barclays, citing lessening liquidity concerns. Price target lifted to $7 from $4. 2009 and 2010 earnings-per-share estimates increased to -$2.31 and $0.21, respectively.

Dollar General

(DG) - Get Report

initiated with an Overweight rating at Morgan Stanley with a $30 price target. Dollar General can generate substantial sales and profit growth.

Discovery Communications

(DISCA) - Get Report

upgraded at JPMorgan Chase to Overweight from Neutral. Price target raised to $35 from $26. 2010 EPS estimates upped to $1.65 from $1.61.

eBay

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coverage started with a Neutral rating at MKM Partners. Stock will likely need to see signs that eBay's market share losses have stopped before a recovery is possible, the firm said.

Edison International

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upgraded to Buy at Goldman Sachs. Stock is not pricing in the full value of the company's regulated utility segment, the firm said.

Exelon

(EXC) - Get Report

downgraded to Neutral at Goldman Sachs. Lower carbon assumptions and the loss of above-market hedges will lead to lower future earnings.

Global Partners

(GLP) - Get Report

initated with a neutral rating and a stock price target of $26.50 at 
Bank of America/Merrill Lynch. 2009 and 2010 EPS estimates set at $2.43 and $2.61, respectively.

Incyte

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downgraded from Buy to Neutral at UBS. $10.50 price target. Valuation call, as the stock is already pricing in a healthy pipeline.

Intel

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upgraded from Hold to Buy at ThinkEquity . $25 price target. Stock has underperformed, even though the company continues to take market share in a strong PC market.

Kellogg

(K) - Get Report

upgraded to Buy from Neutral at Bank of America/Merrill Lynch. The company is positioned to grow volume, margins, and earnings in 2010, the firm said. Price target raised to $62. 2009 and 2010 EPS estimates set at $3.18 and $3.65, respectively.

NII Holdings

(NIHD) - Get Report

downgraded to Underperform from Neutral at Credit Suisse. Shares may fall heading into 3G capex cycle, the firm said. Price target raised to $35 from $33.

OfficeMax

(OMX)

upgraded to Overweight from Neutral at JPMorgan Chase. Price target raised to $20 from $13. 2010 EPS estimates raised to $0.42 from $0.33.

Paychex

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downgraded from Neutral to Sell at Janney Montgomery. Valuation call, based on a $25 price target.

Staples

(SPLS)

upgraded to Overweight from Neutral at JPMorgan Chase. Price target raised to $30 from $27. Maintains 2010 EPS estimates of $1.43.

Seagate Technology

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coverage initiated at Barclays with an Overweight rating and $26 price target. Valuation call. 2010 and 2011 EPS estimates set at $2.30 and $2.55, respectively.

Toll Brothers

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downgraded from Buy to Neutral at Goldman Sachs. Longer build times will hurt gross margin expansion. $24 price target.

Western Digital

(WDC) - Get Report

coverage initiated with an Equal Weight rating and $50 price target at Barclays. 2010 and 2011 EPS estimates set at $4.71 and $5, respectively.

Watsco

(WSO) - Get Report

upgraded from Neutral to Buy at Suntrust Robinson Humphrey. $67 price target. Carrier joint venture should be successful.

STOCK COMMENTS / EPS CHANGES

Intel

(INTC) - Get Report

price target raised to $21 at Goldman Sachs. The firm also increased estimates to reflect higher realized sales and margins. Maintained neutral rating.