Joy Global: Analysts' Upgrades, Downgrades

Joy Global upgraded at Baird from Neutral to Outperform.

Author:: TSC Staff
Publish date:: Apr 12, 2010 9:24 AM EDT

NEW YORK (TheStreet) -- CHANGE IN RATINGS

Alberto-Culver

upgraded at BMO to Outperform. Company should be able to resolve its supply-chain issues and the stock appears to be attractively valued.

Actuant

(ATU)

upgraded at Baird from Neutral to Outperform. $27 price target. Company should see organic growth, given improved refinery utilization and stable vehicle markets.

Best Buy

(BBY) - Get Report

upgraded at FBR from Underperform to Market Perform. $39 price target. RSH deal would make strategic sense.

>> Who Owns Best Buy?: George Soros

Berkshire Hathaway

(BRK.B) - Get Report

initiated at Barclays with an Equal Weight rating and $88 price target. 2010 and 2011 EPS estimates set at $3.34 and $3.47, respectively.

Continental Airlines

(CAL) - Get Report

upgraded at Stifel from Hold to Buy. $27 price target. Company likely to bid for UAUA.

Caterpillar

(CAT) - Get Report

upgraded at Baird from Neutral to Outperform. $88 price target. Dealer channel destocking is over and the company faces easy near-term comparisons.

>> Who Owns Caterpillar?: Ken Fisher

Church & Dwight

(CHD) - Get Report

downgraded at UBS from Buy to Neutral. $70 price target. Valuation call, as the stock is already pricing in mid-teens earnings growth.

Ciena

(CIEN) - Get Report

upgraded at BofA/Merrill to Buy from Underperform as there could be a substantial upside to earnings. Price target surged to $22 from $10.

Columbia Sportswear

(COLM) - Get Report

upgraded at BofA/Merrill to Buy from Underperform on improving US outlook. Price target surged to $65 from $35. 2010 EPS estimate improved to $2.20.

Fairchild Semiconductor

(FCS)

upgraded at Baird from Neutral to Outperform. $17 price target. Recent checks point to lead-time and price increases.

Heinz

(HNZ)

upgraded at Deutsche from Hold to Buy. Foodservice and EU markets are slowly improving. $51 price target.

Ingersoll-Rand

(IR) - Get Report

upgraded at Baird from Neutral to Outperform. $54 price target. Company should benefit from an improved macroeconomic outlook.

>> Who Owns IR?: Warren Buffett

Joy Global

(JOYG)

upgraded at Baird from Neutral to Outperform. $82 price target. New order booking are growing and prospect lists have also increased. (In related news: Stephanie Link, Director of Research for Action Alerts Plus, explains why she is a

fan of Joy Global

in this video.)

LDK Solar

(LDK)

upgraded at Barclays to Equal Weight from Underweight on positive near term wafer fundamentals. Price target increased to $7. 2010 and 2011 EPS estimates raised to 43 cents and 55 cents, respectively.

Louisian-Pacific

(LPX) - Get Report

downgraded at UBS from Neutral to Sell. $10 price target. Recent wood price strength is likely not sustainable.

Mirant

(MIR)

upgraded at Deutsche from Sell to Hold. $11 price target. RRI merger leaves the company fairly valued.

Parker Hannifin

(PH) - Get Report

upgraded at Baird from Neutral to Outperform. $91 price target. Industrial production growth has increased and commercial vehicle markets have stabilized.

Powerwave Technologies

(PWAV)

downgraded at Barclays to Equal Weight from Overweight on valuation. Price target raised to $2 from $1.60. 2010 and 2011 EPS estimates lifted to 7 cents and 13 cents, respectively.

Sanderson Farms

(SAFM) - Get Report

upgraded at BMO from Market Perform to Outperform. $70 price target. Company is spending on its Goldsboro plant, which will increase production by 30%.

Sara Lee

(SLE)

upgraded at Deutsche from Hold to Buy. Company should benefit from better foodservice and EU sales. $16 price target.

St. Jude

(STJ)

upgraded at Goldman to Neutral. Company should be able to take more market share from BSX. $45 price target.

St. Jude

(STJ)

upgraded at Jefferies from Hold to Buy. $49 price target. Competitive recall has improved the risk/reward.

>> Who Owns St. Jude?: Karen Finerman

Weyerhaeuser

(WY) - Get Report

downgraded at UBS from Buy to Neutral. Valuation call.

STOCK COMMENTS / EPS CHANGES

Arvin Meritor

(ARM)

added to Conviction Buy List at Goldman. EBITDA can grow through 20121, given higher truck demand in the U.S. and China.

Bristol-Myers

(BMY) - Get Report

numbers raised at Goldman through 2013. Sprycel sales could help drive growth. Neutral rating and new $27 price target.

Boston Scientific

(BSX) - Get Report

estimates lowered at Goldman through 2013. Company is expected to lose further market share. Sell rating and $6 price target.

Caterpillar

(CAT) - Get Report

price target higher at BofA/Merrill. CAT price target jumped to $75 from $70 as a recent dealer survey suggests higher revenue. Estimates raised through 2012. Maintain Buy rating.

Chico's FAS

(CHS) - Get Report

estimates were boosted through 2011 at FBR Capital Markets. Checks show that spring sales are strong. Outperform rating and $18 price target.

Cummins

(CMI) - Get Report

estimates, target boosted at Goldman. Shares of CMI now seen reaching $75. Estimates also raised, as the company should benefit from higher truck production. Buy rating.

Intel

(INTC) - Get Report

estimates boosted at Oppenheimer through 2011. PC channel checks show healthy demand. Outperform rating.

>> Who Owns Intel?: Renaissance Technologies

Kellogg

(K) - Get Report

price target raised at Barclays to $57 from $55 on solid earnings expectations. 2010 EPS estimate maintained at $3.57. Reiterate Overweight rating.

King Pharmaceuticals

(KG)

numbers cut at UBS through 2011. Generic skelaxin will cut into near-term results. Buy rating and $13.50 price target.

Medtronic

(MDT) - Get Report

estimates, target upped at Goldman. Shares of MDT now seen reaching $49. Estimates also boosted, as the company can gain further market share from BSX. Market Perform rating.

Constellation Brands

(STZ) - Get Report

numbers boosted at Goldman through 2012. Company is seeing a lower tax rate and will likely buyback stock. Neutral rating and new $17 price target.

United Parcel

(UPS) - Get Report

numbers boosted at Goldman. Shares of UPS now seen reaching $77. Estimates were also raised, because of higher volume expectations. Buy rating.

VF Corp.

(VFC) - Get Report

estimates, target boosted at UBS. Shares of VFC now seen reaching $92. Estimates also increased, as positive sales trends could drive above-consensus results. Buy rating.

This article was written by a staff member of TheStreet.com.