CHANGE IN RATINGS
was upgraded from Underperform to Peer Perform at Bear Stearns. Company reported a solid quarter, and investor sentiment is improving. Stock may also continue to run on takeover speculation.
Credit Suisse is raising its target price on
to $22.50 from $16. Cites Q1 results were mixed and investors will be disappointed by lack of upside in Q2. Maintained Neural rating.
Juniper Networks was downgraded from Outperform to Market Perform at Piper Jaffray. $20 price target. Company posted soft sales last quarter, and the stock looks fully valued at 21 times expected 2008 earnings.
numbers raised at Jefferies. Price target upped to $90 from $85 and 2007 EPS estimates rise to $5.75 from $5.65. Reiterates Hold rating.
L-3 Communications was downgraded from Outperform to Market Perform, Friedman, Billings Ramsey said. Valuation call, despite the company's recent solid quarterly report. Estimates also raised.
was upgraded to Buy at Citigroup. Stock is down 6% on the year, but the company should benefit from higher royalty revenue from Samsung. Near-term results could still disappoint.
was downgraded from Overweight to Market-weight at Thomas Weisel. Company posted solid quarterly results, but lacks the catalysts over the next six months to drive the stock higher.
numbers raised at UBS. Price target lifts to $42.50 from $40 and 2007 EPS estimates rise to $2.25 from $2.17. Reiterates Buy rating.
Texas Instruments was upgraded from Market Perform to Outperform at Piper Jaffray. $41 price target. Company posted stronger than expected gross margin last quarter, and should continue to benefit from an improved product mix.
was downgraded to Sell at Merrill Lynch. Estimates also cut, as near-term sales should disappoint. Stock is an LBO, but there are cheaper alternatives in the market.
was downgraded at AG Edwards from Buy to Hold. Valuation call, as the current risk/reward is no longer favorable. Stock has outperformed its peers by 35% since 2004.
STOCK COMMENTS / EPS CHANGES
numbers raised at Jefferies. Price target lifts to $24 from $18 and 2008 EPS estimates rise to $1.20 from $1.17. Reiterates Hold rating.
Goldman is cutting its 2007 estimates on
following slightly weak Q1 results. Taxus sales were light as DES market remains challenging. Management provided initial guidance for Q2 of $0.04 to $0.10 in EPS. Maintained Buy rating and $20 target.
numbers raised at UBS. Price target lifts to $104 from $99 and 2007 EPS estimates rise to $5.21 from $4.97. Reiterates Buy rating.
target raised at Credit Suisse to $43 from $37 following very strong Q1 results. Maintained Outperform rating.