CHANGE IN RATINGS
upgraded at Jefferies: Jefferies said it is upgrading CELL to Buy from Hold based on logistics deal with T-Mobile and belief similar deals are in the works. Price target upped to $21 from $15.
downgraded at Wachovia:CLMS was downgraded from Outperform to Market Perform, Wachovia said. Seasonally slow period for the asset gathering business, and the stock otherwise lacks potential catalysts.
upgraded at Bear: DG was upgraded from Underperform to Peer Perform, Bear Stearns said. Risk/reward is improving, with the stock trading at less than 13 times expected 2006 earnings. Aggressive pricing from WMT remains an issue, though same-store sales comparisons begin to improve in the coming months.
coverage initiated at Goldman: Goldman said it is initiating coverage on PII with a Neutral rating.
upgraded at Baird: TECH was upgraded from Neutral to Outperform, Robert Baird said. $60 price target. Sell off was an over-reaction to the recent quarterly report.
downgraded at Piper: Piper said it is downgrading TEVA to a Market Perform rating as strong Q2 performance is likely unsustainable.
STOCK COMMENTS / EPS CHANGES
target cut at Jefferies: Jefferies lowered price target on ALKS to $19 from $22.50 due to limited updates on Vivitrol's progress and lack of near-term catalyst. 2007 estimates lowered to $(0.04) from $0.06 and reiterated Hold rating.
outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on AMX to $2.17 this year from $2.06 a share. Target goes to $48 from $42. The real growth is still strong.
target raised at Goldman: Goldman said it is raised its target on BC to $31 a share from $28 a share. Maintained Neutral rating.
target price raised at Credit Suisse: Credit Suisse said it is raising its target price on BMC to $21 from $17 following positive 1Q results. Maintained Outperform rating.
Bausche & Lomb
target cut at Goldman: Goldman said it is lowering its target on BOL to $48 a share from $53 a share.
outlook upped at Morgan Stanley: Morgan Stanley said it is raising its estimates on CC for the full year to 73 cents a share from 59 cents a share. Maintained Equalweight rating.
estimates raised at Jefferies: Jefferies said it is raising its 2007 and 2008 estimates on CCO by a penny to $0.57 and $0.73, respectively, after company beat Jefferies' quarterly estimate. Reiterated Buy rating and $25 target.
outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on CSCO for the full year to $1.18 a share from $1.02 a share. Target is $26. Gather steam.
estimates raised at IBS: UBS raised its 2007 estimates on CSCO eight cents to $1.15 after the company reported strong quarterly results. Maintained Neutral rating and $21 price target.
estimates increased at Jefferies: Jefferies increased its 2006 estimates on CVC to $(0.82) from $(0.97) after company reported strong Q2 results. Maintained Buy rating and $26 price target.
target increased at Jefferies: Price target on ETR raised to $89 from $83, Jefferies said. See increase in value of nuclear plants as supply tightens in electricity markets. 2007 estimates raised 5 cents to $5.65 and reiterated Buy rating.
estimates cut at Credit Suisse:
said it is lowering its 2007 EPS estimates on LNC by 10 cents to $5.25 following inline 2Q results. Lowered target price to $64 from $65.
target slashed at Jefferies: Jefferies cut its price target on LNCR to $30 from $42 due to recently proposed reimbursement changes to oxygen equipment and changes to DuoNeb and Xopenex reimbursement will hurt 2007 earnings. Estimates for 2007 lowered to $1.73 from $2.22 and reiterated Hold rating.
estimates reduced at UBS: UBS lowered its 2006 estimates on MGA to $7.25 from $7.27 and 2007 estimates to $7.76 from $7.79. The company reported EPS three cents below consensus. Maintained Buy rating.
estimates lowered at Jefferies: 2007 estimates on NU decreased by 5 cents to $1.35, Jefferies said. Company updated divestiture plan for its non-regulated business. Reiterated Hold rating and lowered target by a dollar to $21.50.
outlook revised at UBS: UBS raised its price target on NWS.A a dollar to $24. 2007 estimates were lowered a penny to $1.05 and 2008 estimates were raised to $1.17 from $1.15. The company announced strong results and solid guidance. Maintained Buy rating.
price target raised at UBS: UBS upped its price target on OS to $60 from $55 and 2007 estimates to $5.75 from $5.60 after management said that earnings will improve in 2007. Maintained Buy rating.
target raised at Jefferies: Jefferies said it is increasing its price target on OSG to $77 from $66 after company reported strong Q2 earnings of $1.61 on higher than anticipated rates. 2006 estimates raised to $10.86 from $10.68 and reiterated Buy rating.
target raised at Morgan Stanley: Morgan Stanley said it is increasing its target price on PXP to $52 from $50. Non-core sales make cents.
estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on SLE for the full year to 78 cents a share from $1.25 a share. Soft underlying results.
estimates cut at Prudential: Prudential said it is cutting its 2007 estimates on SLE by 33 cents to 72 cents a share due to disappointing guidance.
target cut at Goldman: Goldman said it is lowering its target on STX to $28 a share from $30 a share. Maintained Buy rating.
estimates lowered at Credit Suisse: Credit Suisse said it is lowering its 2007 EPS estimates on STX to $1.92 from $2.21 after company lowered guidance. Maintained Outperform rating.
target cut at Goldman: Goldman said it is cutting its target on URBN to $17 from $18. Sales below expectations. Expect margin pressure in the second half.
estimates lowered at Jefferies: Jefferies said it is lowering its 2006 estimates on URI by 8 cents to $2.28 due to increased SG&A expenses and slightly lower revenue in second-quarter results. Reiterated Buy rating and $39 target.