Change in Ratings
upgraded at Goldman Sachs to neutral from sell based on recent steep selloff. See upside to $43 price target, which remains unchanged.
downgraded at Goldman Sachs to sell from neutral based on increasing risk stemming from deal to purchase
Northern New England access lines. Note secular headwinds, high leverage and integration risks. Price target cut to $6 from $12.50.
upgraded at Merrill to buy, with a $34 price target. Stock is down 26% from its disappointing fourth-quarter results, and the company's dominant market share and pricing power should help step recent margin weakness.
( SGP) downgraded at Cowen to neutral, Cowen said. Investors should move to the sidelines, until visibility improves for Vytorin.
Schering-Plough downgraded at Lehman from overweight to equal-weight, with a $20 price target. New data will have a further negative impact on Vytorin prescriptions.
Schering-Plough downgraded at Goldman Sachs to neutral from buy based on reactions to enhance data presented over the weekend. Professional commentary that accompanied the data suggested limiting the use of Vytorin until further trials are conducted. See major uncertainty surrounding franchise, as well as a more prolonged decline for U.S. cholesterol business (through 2012). Price target cut to $23 from $29.
downgraded at Jefferies to underperform rating from hold. Price target slashed to $6 from $8 while fiscal year 2009 EPS estimates dip to 51 cents from 53 cents.
Stock Comments/EPS Changes
estimates cut at Morgan Stanley through 2009. Company to be hurt by higher resin prices, which are rising along with oil. Overweight rating and $72 price target.
estimates raised at UBS. Fiscal year 2009 EPS estimates upped to $1.00 from 90 cents while price target holds at $14. Reiterates sell rating.
numbers lowered at Jefferies. Price target slashed to $55 from $74 while fiscal year 2009 EPS estimates cut to $1.42 from $1.64. Reiterates buy rating.
This article was written by a staff member of TheStreet.com Ratings.