CHANGE IN RATINGS
downgraded at Baird: DCI was downgraded from Neutral to Underperform at Robert Baird. A $36 price target was set. Industrial sales should remain strong, but the weaker general economy should weigh on the company's ability to generate accelerating revenue growth.
upgraded at Lehman: HAS was upgraded from Underweight to Overweight, Lehman Brothers said. $25 price target. Spider-Man 3 and Transformer movies should drive strong toy sales for the company in 2007.
upgraded at UBS: UBS is upgrading IRF to Buy based on attractive valuation. Raised target price to $45 from $43.
downgraded at CSFB: Credit Suisse is lowering its rating on PCAR to Neutral from Outperform based on valuation. The stock is up 20% year-to-date. Maintained $61 target price.
coverage reinstated at Goldman Sachs: Goldman is reinstating coverage of PD with a Buy rating. Believe termination of Inco deal provides attractive entry point. Target price at $105.
Procter & Gamble
upgraded at Suntrust: PG upgraded from Neutral to Buy at Suntrust. $72 price target. Recent meeting with management confirms solid business trends, especially regarding the Gillette purchase.
STOCK COMMENTS / EPS CHANGES
estimates lowered at Morgan Stanley: BTU 2006 estimates cut because of a lower production outlook, Morgan Stanley said. Third quarter numbers should come in at the low end of guidance.
estimates increased at Goldman: Goldman is bumping up its 2006 estimates on GLW by a penny to $1.04 after updated management commentary. Maintained Neutral rating and $23 price target.
estimates cut at Morgan Stanley: KBH estimates were cut through 2007 at Morgan Stanley. Company's latest pre-announcement, along with warning out of HOV, confirm that the housing market is slowing. Equal-weight rating at $32 price target.