CHANGE IN RATINGS
downgraded at BB&T: BZH was downgraded from Buy to Hold, BB&T at Capital. Estimates also cut, to match the company's new guidance.
upgraded at Cowen: CLS was upgraded to Outperform at Cowen. Stock is already pricing in further disappointments, and can outperform the market by 20% over the next 12 months. Estimates also raised.
upgraded at Goldman Sachs: Goldman is upgrading FLEX to Buy from Neutral due to increased confidence in fundamentals, attractive relative valuation, and seasonal EMS rally. Price target at $14.
upgraded at UBS: UBS is upgrading GPN to Buy from Neutral. Believes valuation presents opportunity ahead of F2007 execution Lowered target price to $50 from $53.
upgraded at Lehman: GPS was upgraded from Equal-weight to Overweight at Lehman Bros. $21 price target. Denim business is improving, as well as women's demand at both Old Navy and Gap.
upgraded at Suntrust: MNST upgraded from Neutral to Buy at Suntrust Robinson Humphrey. $50 price target. Company to benefit as the online job listing market is accelerating market share gains from print media.
( PALM) rated new Neutral at Credit Suisse: Credit Suisse is initiating PALM with a Neutral rating. Cites attractive valuation but increasing competition. Sets $17 target price.
coverage initiated at Jefferies: Jefferies is initiating coverage on SYMC with a Hold rating. Cautious stance due to near-term challenges: revenue recognition changes, uncertain operating margin trend, competition from MSFT and ongoing Veritas integration. Price target at $20.
upgraded at Goldman: Goldman is upgrading THC to Neutral from Sell after strong Q2 earnings and continued margin expansion. Price target raised to $7.50 from $4.50.
( UVN) downgraded at Bear: UVN was downgraded to Peer Perform at Bear Stearns. Not expecting new higher bid, as speculated on in a recent NYT article. Stock already appears fully valued.
STOCK COMMENTS / EPS CHANGES
estimates raised at Jefferies: Jefferies is increasing its 2006 estimates on BBY by 2 cents after positive Q2 results. See EPS upside possibility priced into shares. Maintain Hold rating and $52.50 target.
estimates raised at Credit Suisse: Credit Suisse is raising its 2007 EPS estimates on BBY to $2.80 from $2.70 following strong 2Q results and strengthening sales trends. Maintained Neutral rating.
estimates raised at Morgan Stanley: Morgan Stanley raised estimates through 2007 for EFX, to match the company's new guidance given at a recent investor day. New strategic initiatives should offset the impact of a slowing U.S. economy allowing the company to sustain 8-12% revenue and earnings growth. Equal-weight rating.
outlook raised at UBS: UBS is raising its 2006 EPS estimates on GS to $17.91 from $17 following strong 2Q quarter results and better outlook. Raised target price to $185 from $180.
estimates raised at UBS: UBS is raising its 2007 EPS estimates on VTR to $3.02 from $2.97. Believes recent acquisition has upside. Maintained Buy rating.