CHANGE IN RATINGS
downgraded at Credit Suisse to Underperform from Neutral. Sees earnings pressure continuing after Q4 pre-announcement. Maintained $66 target price.
upgraded at Jefferies to Buy rating from Hold. Price target jumps to $34 from $24 and FY 2008 EPS estimates dip to ($4.88) from ($4.77).
upgraded at Deutsche Bank to a Buy rating on increasing conviction that XenSoure is a legitimate #2 vendor in the virtualization market.
upgraded at Goldman Sachs to a Buy rating from NR (Not Rated) based on view that company is most favorably leveraged refining pick among integrated oil plays. Note current seasonal weakness in margins as buying opportunity. Price target at $72.
downgraded at FBR to an Underperform rating as growth challenges outweigh liquidation value.
downgraded at Goldman Sachs to Neutral from Buy due to valuation. Note 44% gain since January versus 4% increase in S&P 500. Maintain favorable view of company fundamentals, but see better upside opportunity in MRO. Price target raised to $73 from $69.
( RTSX) downgraded at Deutsche Bank to a Hold rating on announcement of LBO.
( RX) upgraded at FBR to an Outperform rating based on significant pullback in shares which has taken valuation to all-time lows. Target price is now $29.
( SEPR) downgraded at UBS to Sell rating from Neutral. Price target slashed to $20 from $29 and FY 2008 EPS estimates dip to $1.36 from $1.61.
upgraded at Morgan Stanley from equalweight to overweight and moves price target to $45.
STOCK COMMENTS / EPS CHANGES
price target lowered at Goldman to $18 from $20. Q3 results were mixed, but showed stabilizing trends in DES and defibs. Management guidance was disappointing. Maintained Buy rating.
2007 estimates trimmed at Goldman to $5.28 from $5.50 based on disappointing Q3 results. Raw material pressures, plant inefficiencies related to capacity additions, negative FX, and lower demand in North American construction are all contributing factors. Price target cut to $82 from $90 and maintained Neutral rating.
target price raised at Deutsche Bank to $67 due to slightly more aggressive FCF estimates. Maintained Buy rating.
estimates raised at UBS. FY 2008 EPS estimates lift to $3.16 from $3.13 while price target holds at $64. Reiterates Buy rating.
numbers lowered at Jefferies. Price target dips to $22 from $25 and FY 2008 EPS estimates slashed to $0.40 from $2.66. Reiterates Buy rating.
( PMI) 2007 estimates slashed at Goldman to $0.20 from $1.89 after company preannounced a $1.05 loss for Q3. See limited visibility and continuing deterioration in credit fundamentals. Also noted lower capital cushion relative to other guarantors. Maintained Neutral rating and lowered price target to $32 from $36.
target price raised at Deutsche Bank to $52 following landmark Asbury Automotive win. Maintained Buy rating.
target price cut at Credit Suisse to $34 from $41. Sees more downside ahead as consensus estimates remain too high. Maintained Neutral rating.