CHANGE IN RATINGS
downgraded at Morgan Stanley from overweight to equalweight and lowers price target from $48 to $42.
downgraded at Kaufman to Sell from Hold. Cites intensifying competition among existing players and new entrants will pressure earnings. Reduced target price to $25 from $33.
downgraded at Goldman Sachs to Sell from Neutral based on expected weak performance in PRASM (relative to peers) along with continuing domestic pressures. Atlantic traffic is weighted to UK, leaving company vulnerable to deteriorating economic outlook. Price target cut to $22 from $25.
downgraded at ThinkEquity to an Accumulate rating following announcement of disappointing Peramivir data. Target cut to $10.
downgraded at Bear to a Peer Perform rating following disappointing Q3 earnings results.
upgraded at Credit Suisse to Outperfrom from Neutral based on improved execution by management and valuation. Raised target price to $65 from $59.
upgraded at Goldman Sachs to Neutral from Sell based on defensive position relative to peers. See growing threats to certain international economies and expect oil headwinds to grow. Target price remains $15.
Pepsi Bottling Group
( PBG) downgraded at Bernstein to a Market Perform rating based on valuation. Maintained $40 target price.
downgraded at Jefferies to Hold rating from Buy. However, price target lifts to $132 from $127 and FY 2008 EPS estimates upped to $3.62 from $3.32.
STOCK COMMENTS / EPS CHANGES
Aegean Marine Petroleum Network
target raised at Bear from $30 to $35 to reflect a stronger growth outlook. Maintained Outperform rating.
price target higher at Goldman to $73 from $60 due to increasing adoption of Tysabri without major safety concerns, potential launch of new indications on Rituxan by 2010, and an expanded pipeline with 15 phase 2 or 3 programs. Maintained Neutral rating.
numbers lowered at UBS. FY 2008 EPS estimates bump down to $1.51 from $1.52 while price target holds at $27. Reiterates Neutral rating.
price target lowered at Goldman to $90 from $96. Q3 results showed leveraged loan write-downs and losses in its quantitative strategy business. Expect results to rebound in Q4. Maintain Buy rating.
numbers lowered at UBS. Price target dips to $20 from $23 and FY 2008 EPS estimates bump down to $0.88 from $0.98. Reiterates Neutral rating.
( WYE) numbers lowered at UBS. Price target dips to $51 from $57 and FY 2008 EPS estimates bump down to $3.48 from $3.51. Reiterates Neutral rating.