Joy Global: Analysts' Upgrades, Downgrades
NEW YORK (TheStreet) -- CHANGE IN RATINGS
Alberto-Culver
(ACV) - Get AllianzGI Diversified Income & Convertible Fund Report
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 Best Buy Co., Inc. 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 Berkshire Hathaway Inc. Class B 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 Caleres, Inc. Report
TheStreet Recommends
upgraded at Stifel from Hold to Buy. $27 price target. Company likely to bid for UAUA.
Caterpillar
(CAT) - Get Caterpillar Inc. 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 Church & Dwight Co., Inc. 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 Ciena Corporation 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 Columbia Sportswear Company 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
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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 Ingersoll Rand Inc. 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 Louisiana-Pacific Corporation 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 Parker-Hannifin Corporation 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 Sanderson Farms, Inc. 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 Weyerhaeuser Company 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 Bristol-Myers Squibb Company Report
numbers raised at Goldman through 2013. Sprycel sales could help drive growth. Neutral rating and new $27 price target.
Boston Scientific
(BSX) - Get Boston Scientific Corporation Report
estimates lowered at Goldman through 2013. Company is expected to lose further market share. Sell rating and $6 price target.
Caterpillar
(CAT) - Get Caterpillar Inc. 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 Chico's FAS, Inc. 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 Cummins Inc. 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 Intel Corporation Report
estimates boosted at Oppenheimer through 2011. PC channel checks show healthy demand. Outperform rating.
>> Who Owns Intel?: Renaissance Technologies
Kellogg
(K) - Get Kellogg Company 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 Medtronic Plc 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 Constellation Brands, Inc. Class A 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 United Parcel Service, Inc. Class B 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 V.F. Corporation 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.
