CHANGE IN RATINGS
upgraded at Merrill Lynchto Buy. $64 price target. Estimates are above consensus, based on a more favorable outlook for the specialty property business.
upgraded at Jefferies to Hold rating from Under Perform. Price target jumps to $65 from $40, and 2008 EPS estimates upped to $2.90 from $2.33.
upgraded at Citigroup to Buy from Hold. Management is being more proactive in working to stem the tide of domestic franchise restaurant closures. The company possesses margin expansion and international growth opportunity. $28 price target.
upgraded at Jefferies to Buy rating from Hold. Price target bumps to $27 from $26, and 2008 EPS estimates initiated at $1.02.
upgraded at Bear Stearns to Peer Perform. Core business-mainframe database tools have been stabilized. The company reported a solid quarter with strong cash flow three times that achieved a year ago. Estimates raised.
Cooper Tire & Rubber
upgraded at BB&T to Buy. The company beat analysts' second quarter estimates and is well positioned heading into its two seasonally strongest quarters. Due to falling costs margins anticipated to be higher in third quarter. $27 price target.
downgraded at Thomas Weisel from Overweight to Market-weight. Cautious about the Acopia acquisition, given the price and management's track record of integrating deals. $70 price target.
upgraded at Friedman, Billings Ramseyfrom Underperform to Market Perform. Valuation call, though the company is too centered around mortgages to really outperform in the current environment. $32 price target.
Hudson City Bancorp
upgraded at Friedman, Billings, Ramsey to Outperform from Market Perform. Company is a beneficiary of the mortgage market implosion. It had mounds of excess capital and is experiencing and acceleration in earnings power. $17 price target.
downgraded at JP Morgan to Neutral. Valuation call, as the stock is up nearly 60% on the year. Would need to see more AMI awards for the stock to move higher over the next 3 to 6 months.
downgraded at Morgan Stanley from equalweight to underweight and moves price target to $11.
downgraded at Jefferies to Hold rating from Buy. Price target dips to $33 from $35, and 2008 EPS estimates drop to $1.80 from $1.84.
upgraded at Baird to Outperform from Neutral based on valuation. Despite the company's strong capital investment program, the company is selling at a discount relative to its regulated utility peers. $46 price target.
( LUM) downgraded at UBS to Sell rating from Neutral. Price target drops to ZERO.
( MNT) upgraded at Piper Jaffray from Underperform to Market Perform. Company posted a strong quarter, based on higher silicone sales. Acquisition and buyback should also add to earnings. $45 price target.
Martha Stewart Living
upgraded at Bear Stearns to Outperform. Stock is down 33% since late June, even though the company is carrying strong sales momentum into the second half of the year. $16.50 price target.
upgraded at Jefferies to Hold rating from Under Perform. Price target holds at $5, while 2008 EPS estimates drop to $0.35 from $0.42.
STOCK COMMENTS / EPS CHANGES
2008 estimates raised at Piper by 6 cents to $1.72 a share following strong Q2 numbers and forward guidance. Maintained Outperform rating.
BMC Software 2008 estimates raised at Credit Suisse to $1.73 from $1.66 after company reported solid quarterly results. Raised target to $29.50 from $28 and maintained Neutral rating.
target price raised at Piper to $32 following stronger-than-expected Q2 numbers. Maintained Outperform rating.
target cut at UBS to ZERO from $3. Reiterates Sell rating.
2007 estimates higher at Goldman to $5.85 from $5.40. See continued earnings results ahead of expectations and a large renewed buyback. Maintained Buy rating.
2007 estimates cut at Piper by 6 cents to $1.33 a share. Company missed top and bottom line estimates in Q2. Maintained Outperform rating.
target price cut at Credit Suisse to $37 from $42 after Q2 earnings fell slightly short of estimates. Maintained Outperform rating based on positive outlook and strong momentum in demand trends.
2007 estimates raised at Goldman to $2.72 from $2.00 after company reported earnings well ahead of expectations. Las Vegas and Macau properties outperformed. Maintained Neutral rating and price target at $100.