CHANGE IN RATINGS
upgraded at Bernstein from Market Perform to Outperform. $95 price target. Merchants platform in Europe and Japan should continue to drive top-line growth. Also look for cost-cutting to help boost margins.
upgraded at Credit Suisse to Neutral from Underperform based on recent stability of its run-off operations. Maintained $46 target price.
rated new Neutral at Credit Suisse. Sees significant growth but valuation premium compared to peers implies that strong future execution is already priced-in. Sets $13 target price.
Dice Holdings initiated at Jefferies with Buy rating. Price target starts at $13 with 2008 EPS estimates at $0.40.
upgraded at Deutsche Bank from Hold to Buy. $27 price target. Company continues to see strong demand in the scatter market. Free cash flow also expected to ramp up to $2.7 billion over the next 4 years.
upgraded at Goldman Sachs to Buy from Neutral based on strong growth profile and ability to drive accelerating earnings growth over several quarters. See solid near-term visibility. Price target raised to $40 from $38.
upgraded at Bear Stearns from Peer Perform to Outperform. $45 price target. Stock has been lagging its peers, and a solid third quarter performance could provide the necessary catalyst.
downgraded at Merrill Lynch from Neutral to Sell. Stock could underperform through 2008, especially in its California stores.
upgraded at Deutsche Bank from Sell to Hold. Valuation looks appropriate, given the company's elusive turnaround and current risk/reward. $4 price target.
STOCK COMMENTS / EPS CHANGES
2008 estimates slashed at Goldman to $0.20 from $0.40 due to weaker than expected Q2 results and lower product revenue forecasts. Price target lowered to $16 from $17.
numbers raised at UBS. Price target lifts to $34.50 from $32 and 2008 EPS estimates upped to $3.30 from $3.15. Reiterates Neutral rating.
( VSEA) numbers raised at UBS. Price target lifts to $60 from $54 and 2008 EPS estimates upped to $3.03 from $2.80. Reiterates Buy rating.
( WFMI) added to Focus List at JP Morgan. $57 price target. Stock looks attractive following the OATS acquisition, and the market remains too pessimistic on the company.