CHANGE IN RATINGS
upgraded at Citigroup to Buy from Hold. Shares are off 15% from the peak, mostly due to concerns over the extended outage at the Clear Lake facility and the general market malaise. 2008 thesis is intact. Price target raised to $45 from $35.
initiated at Morgan Stanley with an overweight rating and $60 price target.
upgraded at UBS to Buy rating from Neutral. Price target lifts to $82 from $77 and FY 2008 EPS estimates hold at $4.51.
upgraded at Wachovia to Outperform. Expanding wind power development promising. Stocks recent pullback from its $65 high offers an attractive point to establish or add to positions. Raising 2007 and 2008 estimates to $3.50 and $3.80, respectively.
upgraded at Bear Stearns to Outperform from Peer Perform. Shares have taken a plunge. Trading at a relative discount at 7.5 times estimated 2008 EBITDA. Improved advertising trends. $56 price target.
( GYMB) upgraded to Outperform at Friedman, Billings Ramsey. Stock has pulled back to a compelling entry point, and the company now looks better positioned to post solid numbers against difficult second and third quarter comps. Estimates also raised, to reflect an aggressive buyback program. $47 price target.
( IVGN) downgraded at Bear Stearns from Outperform to Peer Perform. Stock looks fully valued ahead of Wednesday's quarterly report, even though the consensus analyst estimates could prove conservative. $78 price target.
downgraded at Citigroup from Hold to Sell. Stock is pricing in higher sales growth than the company is capable of. $20 price target.
( VSEA) upgraded at Credit Suisse to Neutral from Underperform. Cites while margin concerns remain, NAND orders should be strong. Raised target price to $46 from $41.
price target raised at Goldman to $44 from $40 based on Q2 results that included improved wireline trends and better than expected wireless margins. See somewhat weak subscriber momentum heading into the second half of 2007. Maintained Neutral rating.
Verizon upgraded at UBS to Buy rating from Neutral. Price target lifts to $48 from $44 and FY 2008 EPS estimates bump to $2.75 from $2.73.
downgraded at Merrill to Neutral. Tighter credit environment could hurt earnings, and could delay the company's strategic recapitalization. $86 sum of the parts valuation.
STOCK COMMENTS / EPS CHANGES
numbers raised at Jefferies. Price target upped to $75 from $70 and FY 2008 EPS estimates jump to $3.00 from $2.65. Reiterates Buy rating.
2008 estimates raised at Goldman Sachs to $0.24 from $0.17, following Q4 results that showed better than expected operating margins. Overall storage growth remains poor, with mediocre server growth. Price target lowered to $6.50 from $7.35 but maintained Buy rating.