CHANGE IN RATINGS
downgraded at Friedman, Billings: ANN was downgraded from Outperform to Market Perform, Friedman, Billings Ramsey said. Company facing tougher same-store sales and gross margin comparisons in the coming quarters. Loft merchandise has also been flat of late. $39 price target.
downgraded at Merrill:DHI was downgraded to Sell at Merrill Lynch. Nov. 14 year-end conference call could be a negative catalyst. Management likely to shatter hopes of a mid-2007 recovery. Stock could find support near July low of $20, which is near the company's book value.
upgraded at Raymond James: JBLU was upgraded to Outperform at Raymond James. Company should be able to build upon strong October results, as bookings look good for the upcoming holiday season.
( MEDI) upgraded at Friedman, Billings:MEDI was upgraded to Outperform, Friedman, Billings Ramsey said. Latest performance data on Numax suggests that future sales could be higher. $40 price target.
Sierra Health Services
( SIE) upgraded at UBS: UBS is upgrading SIE to Neutral from Reduce based on valuation. Maintained $35 target price.
( TRB) downgraded at AG Edwards: TRB was downgraded from Buy to Hold at AG Edwards. Newspaper ad market remains difficult, and it's becoming less likely a takeover bid will materialize that can expand the multiple.
STOCK COMMENTS / EPS CHANGES
estimates cut at Prudential: Prudential is cutting its 2007 estimates on ALTR by 15 cents to 89 cents a share to reflect lower revenues and higher expenses. Maintained Underweight rating.
estimates cut at Morgan Stanley: BSX estimates lowered through 2008 at Morgan Stanley. Analyst meeting was positive, but there are still several risks against the potential stabilization of the drug-eluting stent market.
estimates reduced at Goldman: Goldman is cutting its 2006 estimates on BSX by two cents to $0.75 following analyst meeting to update outlook for DES and CRM markets. Maintained Buy rating and $21 target.
target price raised at UBS: UBS is raising its target price on CSCO to $27 from $24. Expects strong FY 1Q results. Maintained Neutral rating.
price target raised at Jefferies: Jefferies is increasing its target on CXW to $57 from $47 after company reported strong Q3 results driven by solid bed demand and management execution. Reiterated Buy rating.
target increased at Jefferies: Price target on EIX upped to $50.50 from $48 at Jefferies. See shares undervalued with respect to low-cost merchant coal generation fleet. Reiterated Buy rating.
estimates reduced at Morgan Stanley: HRB estimates lowered through 2009 at Morgan Stanley. Company continues to see pressure in the subprime mortgage business, and a sale of Option One would still make strategic sense at this point. Underweight rating and $21 price target.
price target increased at Goldman: Goldman is upping its target on RNWK to $9 from $7.50 after company reported in-line revenue and upside profit for Q3. Lower spending on R&D and marketing mitigated disappointing sub adds. Maintain Sell rating.