Philip Morris: Analyst Upgrades, Downgrades - TheStreet

Philip Morris: Analyst Upgrades, Downgrades

Philip Morris receives an upgrade from Credit Suisse on expectations of an improving environment in Eastern Europe and Russia.
Author:
Publish date:

NEW YORK (

TheStreet

) --

CHANGE IN RATINGS

AK Steel Holding

(AKS) - Get Report

was downgraded from Buy to Hold by Deutsche Bank. $24 price target. Company has lower margin potential than its peers.

Baxter International

(BAX) - Get Report

was downgraded from Buy to Hold by Citigroup. Estimates were also cut, as the Bioscience division is slowing. $63 price target.

Burger King

(BKC)

was downgraded to Neutral from Outperform on challenging industry conditions and increasing tensions with franchisees. Price target cut from $23 to $21. 2010 and 2011 EPS estimates reduced to $1.38 and $1.59, respectively.

Ciena

(CIEN) - Get Report

was upgraded to Outperform from Neutral by Barclays, based on near-term revenue growth. Price target lifted to $19 from $15. 2010 and 2011 EPS estimates increased to -$0.89 and $0.27, respectively.

GSI Commerce

(GSI)

was downgraded to Neutral by Susquehanna Financial. Stock has already priced in a strong holiday season and deal momentum.

International Speedway

(ISCA) - Get Report

was downgraded from Outperform to Market Perform by BMO Capital Markets. Valuation call, as the stock reached the $30 price target.

Lorillard

(LO)

was downgraded to Neutral from Outperform by Credit Suisse on uncertainty regarding the outstanding recommendation of menthol by the FDA's TPSAC. Price target reduced to $84 from $90. 2009 and 2010 EPS estimates cut to $5.79 and $6.29, respectively.

McDonald's

(MCD) - Get Report

was upgraded to Outperform from Neutral on international growth by Credit Suisse. Price target increased to $71 from $69. 2009 and 2010 EPS estimates set at $3.98 and $4.47, respectively.

Pebblebrook Hotel Trust

(PEB) - Get Report

was initiated with a Buy rating and $23 target byBank of America/Merrill Lynch. Pebblebrook is a blank-check REIT focused on acquiring hotel properties in the top 20 markets.

Philip Morris

(PM) - Get Report

was upgraded by Credit Suisse to Outperform from Neutral on expectations of an improving environment in Eastern Europe and Russia. Price target raised to $57 from $53. 2009 and 2010 EPS estimate increased to $3.35 and $3.91, respectively.

Quanta Services

(PWR) - Get Report

was downgraded to Underperform by FBR Capital Markets. $16 price target. Negative regulatory case could delay Texas CREZ.

Sprint Nextel

(S) - Get Report

was lowered from Market Perform to Underperform by Bernstein Research. $3 price target. Industry pricing is becoming more competitive.

Vale

(VALE) - Get Report

was upgraded to Overweight from Equal Weight on higher iron ore pricing cycle. Price target jumped to $39 from $31. 2009 and 2010 EPS estimates set at $1.02 and $2.20, respectively.

US Steel

(X) - Get Report

was raised from Hold to Buy by Deutsche Bank. $77 price target. Integrated business model has the potential for margin growth.

STOCK COMMENTS / EPS CHANGES

Fairchild Semiconductor

(FCS)

shares now seen reaching $17, FBR Capital Markets said. Estimates also increased, following positive distributor checks. Outperform rating.

Google

(GOOG) - Get Report

target boosted at Thomas Weisel to $675. Channel checks show higher growth in the U.S. 2010 EPS estimate increased to $26.98, 2009 maintained at $23.10. Reiterate Overweight rating.

Home Depot

(HD) - Get Report

shares now seen reaching $32, FBR Capital Markets said. Estimates also increased, as raw material inflation could boost sales. Outperform rating.

International Rectifier

(IRF)

shares of IRF now seen reaching $25, FBR Capital Markets said. Estimates also raised, following positive channel checks. Outperform rating.

JPMorgan Chase

(JPM) - Get Report

estimates were reduced through 2011, according to Morgan Stanley. Company would be hurt by new bank tax. Overweight rating and new $59 price target.

JPMorgan Chase estimates were reduced through 2011, according to Goldman Sachs. Company likely seeing lower fixed-income revenue. Buy rating and $54 price target.

Lowe's

(LOW) - Get Report

shares now seen reaching $25, according to FBR Capital Markets. Estimates also raised, to reflect high expected comp sales. Outperform rating.

3M

(MMM) - Get Report

estimates were raised through 2011, according to UBS. Company can deliver strong organic growth and the stock deserves a higher multiple. Buy rating and new $105 price target.

Potash

(POT)

shares now seen reaching $116, UBS said. Estimates also lowered, to reflect lower expected potash prices. Neutral rating.

Sherwin-Williams

(SHW) - Get Report

estimates were lowered through 2011, Goldman Sachs said. Recent data suggest a mixed 2010. Neutral rating and new $66 price target.

Scripps Networks

(SNI)

estimates were increased through 2011, Morgan Stanley said. Company is seeing an advertising recovery and will also benefit from recent affiliate fee increases. Equal-weight rating and new $48 price target.

Textron

(TXT) - Get Report

shares now seen reaching $30, Morgan Stanley said. Estimates also raised, as the company should benefit from several years of positive helicopter demand. Overweight rating.

Veeco Instruments

(VECO) - Get Report

shares now seen reaching $44, according to Citigroup. Estimates also increased, as the company continues to gain market share. Additionally, the stock was added to the Top Picks Live list. Buy rating.

This article was written by a staff member of TheStreet.com.