CHANGE IN RATINGS
coverage initiated at Prudential: Prudential said it is initiating coverage on AGN with a Neutral Weight rating. Valuation bakes in upcoming product launches and growth opportunities.
rated new Buy at Citigroup: AYR was initiated with a Buy rating, Citigroup said. $34 price target. Only public aircraft leasing company, and expect capital growth as well as an above-average dividend over the next couple of years.
upgraded at Merrill: BE was upgraded from Sell to Neutral, Merrill Lynch said. New analyst expects fundamentals to improve, and believes the stock trades at an attractive valuation.
coverage initiated at Jefferies: OSIS coverage initiated with a Buy rating, Jefferies said. See robust production cycle, momentum in homeland security spending, and potential significant EPS leverage. Price target at $24.
downgraded at Citigroup: RAI was downgraded from Buy to Hold, Citigroup said. Supply chain issues will likely cut near-term volume growth. $68 price target.
upgraded at UBS: UBS said it is upgrading VRTX to Buy from Neutral based on valuation. Expects positive news flow should incrementally decrease risk. Maintained $42 target price.
STOCK COMMENTS / EPS CHANGES
target price raised at Piper: Piper said it is raising its target price on ARO to $34 due to accelerating sales trends continuing in September. Maintained Outperform rating.
price target upped at Morgan Stanley: Morgan Stanley is raising its price target to $105 from $100, while trimming 2007 EPS estimates and raising 2008 EPS estimates.
estimates raised at Goldman: Goldman said it is raising its 2007 estimates on AZO to $8.84 from $8.15 due to strong gross margin momentum and increased confidence in top-line growth based on lower gas prices. Price target at $116 and maintained Neutral rating.
( BEAS) price target upped at Jefferies: Jefferies said it is raising its target on BEAS to $17 from $15 after positive management comments regarding second half of 2006. See extensive portfolio of SOA infrastructure products driving growth and margins through 2008. Reiterated Buy rating.
price target lowered at Goldman: Goldman said it is cutting its price target on BRCM to $30 from $32 due to added risks surrounding departure of company's CFO. Maintained Neutral rating.
estimates cut at Morgan Stanley: Commerce Banc's stock discounts strong performance for several years to come, according to Morgan Stanley. Morgan Stanley reiterates its $25 price target and is cutting 2008 EPS estimates.
( DJ) outlook cut at UBS: UBS said it is lowering its 2006 EPS estimates on DJ to $1.05 from $1.10 after company reduced 3Q guidance. Lowered target price to $40 from $38.
price target raised at Goldman: Target on DLTR increased to $34 from $32, Goldman said. See upside potential for sales and earnings after management comments at Tuesday's analyst meeting. Maintain Neutral rating.
outlook raised at UBS: UBS said it is raising its 2007 EPS estimates on DRI by 7 cents to $2.39 based on F1Q upside and upbeat outlook. raised target price to $43 from $42.
Maxim Integrated Products
estimates cut at Morgan Stanley: Morgan Stanley is lowering EPS estimates for 2007-2008 to reflect Maxim's recent preannounced shortfall. Maintain equal-weight rating.
estimates lowered at Morgan Stanley: Morgan Stanley is lowering 2007-2008 estimates for National City to reflect its sale of its sub-prime mortgage business to Merrill Lynch. Morgan Stanley maintains equal-weight rating and lower price target from $36 to $34.
target price raised at UBS: UBS said it is raising its target price on ORCL to $21 from $20 following exceptional F1Q results. Maintained Buy rating.
target raised at Jefferies: Jefferies said it is increasing its target on ORCL to $20 from $17.50 after company reported strong Q1 results. Expect scale economies to drive margins, earnings, and free cash flow. 2007 estimates upped by 3 cents to $0.99. Reiterated Buy rating.
outlook raised at Credit Suisse: UBS said it is raising its 2006 EPS estimates on THC to 11 cents from 9 cents. Believes current expectations may prove conservative. Rasied target price to $11 from $10.
estimates lowered at UBS: UBS said it is lowering its 2006 EPS estimates on WY to $3.55 from $3.90 based on weaker than expected wood products and containerboard volumes. Maintained $73 target price.
estimates trimmed at Goldman: 2006 estimates on WY cut to $3.55 from $3.65, Goldman said. See lower wood products volume and softer guidance in packaging. Target price at $64 and Neutral rating.
target, estimates cut at Goldman: Goldman said it is lowering its price target on YHOO to $32 from $40 due to slower ad spending in branded and search from economically sensitive categories like finance and autos. 2006 estimates lowered by a penny to $0.73. Maintained Buy rating.