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Joy Global: Analysts' Upgrades, Downgrades

Joy Global numbers boosted at Barclay and UBS, upgraded at Longbow to buy.
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Concho Resources


downgraded at BofA/Merrill to Underperform from Buy. Operational story recognized, downgrading on valuation. Maintain $58 price target.



upgraded at Citi to Buy from Hold on dark spread bounce and dividend yield. Price target lowered to $39 from $42. Estimates raised through 2012.

Fidelity National


upgraded at Duncan-Williams from Hold to Buy. $32 price target. Reorganization and buyback should limit near-term downside.

Foot Locker


rated new Neutral at Longbow. Company faces challenges in trying to grow its sales.

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Joy Global


target, estimates boosted at Barclay. JOYG price target jumped to $70 from $67 after the company reported strong 2Q10 results. 2010 and 2011 EPS estimates raised to $3.90 and $4.35, respectively. Overweight rating.

Joy Global


numbers upped at UBS. Estimates were boosted through 2011. Company raised its forward guidance. Buy rating and new $77 price target.

Joy Global


upgraded at Longbow from Neutral to Buy. $75 price target. Stock looks oversold, on fears of slower growth.



rated new Positive at Susquehanna Financial. $78 price target. Company is a market leader and should continue to generate solid returns.



rated new Buy at Benchmark. $45 price target. Company is a market leader and can pay down debt with its solid cash flow.

Philip Morris


price target cut at Credit Suisse. PM price target lowered to $53 from $57 as EPS range likely to be reduced. Maintain Outperform rating.




estimates, target raised at Susquehanna. Shares of AAPL now seen reaching $325. Estimates also increased, given better iPad sales. Positive rating.

Anadarko Petroleum


target lowered at UBS to $55. Recent selloff has created an attractive entry point, as the stock is not pricing in any future Gulf of Mexico business. Outperform rating.



estimates, target boosted at Jefferies. Shares of ASH now seen reaching $70. Estimates also upped, as the company has considerable potential operating leverage. Buy rating.



numbers reduced at Jefferies through 2012. Company is facing currency headwinds. Hold rating and new $24.50 price target.



estimates increased at UBS through 2011. Positive prescription and pricing trends should drive better growth. Buy rating and $70 price target.

Cooper Companies


price target raised at Citi. COO price target jumped to $40 from $34 on in-line 2Q10 results. Quarter highlighted by higher revs. Maintain Buy rating.



estimates, target boosted at FBR. Shares of CSX now seen reaching $68. Estimates also upped, given improving volume trends. Outperform rating.



target reduced at UBS. AFL target was lowered to $48. Company has investment exposure in Europe, which could weigh on the stock. Neutral rating.



estimates tweaked at Barclays. GOOG 2010 and 2011 EPS estimates lowered to $27.67 and $31.61, respectively, on Nexus One distribution and foreign exchange. Maintain Overweight rating and $650 price target.

Genuine Parts


target reduced at Goldman to $48. Market multiple is shrinking, though recent data points suggest that the company is having a good quarter. Buy rating.



price target higher at Barclays. MCK price target raised to $78 from $76 after Barclays visited the company headquarters. Biggest takeaway from the visit was greater margin expansion in drug over next three years. Maintain Overweight rating.

Noble Energy


target increased at Goldman. NBL target was raised to $76. Company hosted an upbeat analyst meeting. Neutral rating.

Norfolk Southern


numbers raised at FBR. Shares of NSC now seen reaching $70. Estimates also increased, given better industry-wide volume trends. Market Perform rating.

Penske Automotive


numbers reduced at Goldman. Shares of PAG now seen reaching $16, according to Goldman Sachs. Estimates also cut, to reflect the stronger pound and a weaker sales mix. Neutral rating.


price target higher at Citi. PTV price target raised to $34 from $30 on buyout talk. Maintain Buy rating.

Research in Motion


numbers cut at UBS. Shares of RIMM now seen reaching $70. Estimates also lowered, as competitive pressures remain high. Neutral rating.



price target cut at Barclays. TLAB price target lowered to $7 from $9.50 on suspicion that TLAB may lose its role as a backhaul vendor to AT&T. Reiterate Equal Weight rating.

Ulta Salon


estimates upped at Wells through 2011. Company is showing strong comp sales momentum. Outperform rating.

UTI Worldwide


estimates cut at Morgan Stanley. UTIW estimates were lowered through 2012. Company is facing higher corporate costs and taxes. Equal-weight rating.



estimates, target reduced at Jefferies. WAG estimates were cut through 2011. Company is seeing lower sales, and will be hurt by Duane Reade. Hold rating and new $36 price target.

U.S. Steel


cut from Conviction Buy List at Goldman. Company is seeing lower prices and has exposure to Europe. $73 price target.

This article was written by a staff member of