CHANGE IN RATINGS
downgraded at Merrill: ALSK was downgraded from Buy to Neutral, Merrill Lynch said. Company trades at a premium to its rural telecom peers, and is indicating a 6.5% yield for 2007.
( GLBC) added to Buy List at Goldman Sachs: Goldman said it is adding GLBC to its Conviction Buy List due to increased confidence in positive operating momentum. See upcoming catalysts, including achievement of positive EBITDA results in Q3, $30-$40 in EBITDA for Q4, and favorable position in M&A in sector that is consolidating. Price target at $25.
upgraded at Morgan Stanley: Morgan Stanley said it is upgrading GPS to overweight from Underweight citing confidence in apparel offerings, new merchandise and marketing initiatives. Sets target price of $23.
( KCI) downgraded at Piper: Piper said it is downgrading HLTH to a Market Perform rating as stock is now at value of parts of the business.
( RHAT) target raised at Jefferies: KCI price target raised to $41 from $35, Jefferies said. Believe upcoming quarter will be in-line with estimates and that one institutional account is increasing exposure. Reiterated Buy rating.
( RHAT) downgraded at CIBC: PNR was downgraded from Outperform to Sector Perform, CIBC said. Estimates also cut to match the company's new guidance. Latest warning clouds visibility of an operational turnaround.
( RHAT) downgraded at Prudential: Prudential said it is downgrading RHAT to a Neutral Weight rating due to execution issues and reduced guidance. Target cut to $25.
( RHAT) estimates cut at UBS: UBS said it is lowering its 2007 EPS estimates on RHAT to 38 cents from 44 cents. Cited strong quarter for revenues and earnings but cash flow was disappointing. Lowered target price to $33 from $36.
( RHAT) downgraded by Jefferies: Jefferies said it is downgrading RHAT to Hold from Buy after company badly missed earnings estimates. Digesting JBoss is proving harder that initially thought. Target price cut to $24 from $34.
STOCK COMMENTS / EPS CHANGES
Bank of America
outlook raised at Morgan Stanley: Morgan Stanley said it is raising its 2006 EPS estimates on BAC and revising its target price to $55 based on higher loan growth and operating leverage. Maintained Overweight rating.
estimates reduced at UBS: UBS said it is lowering its 2006 EPS estimates on BE by 4 cents to 47 cents. Cites concerns about turnover but remains optimistic in long-term. Maintained $12 target price.
estimates raised at Morgan Stanley: Morgan Stanley said it is raising its 2006 EPS estimates on CAL after upbeat analyst meeting. Believes its a good time to have leverage to a solid environment. Maintained Equal-weight rating.
( DNA) price target raised at Jefferies: Jefferies said it is increasing its target on DNA to $106 from $100 after survey results indicate FDA approval for Avastin and Herceptin will serve as major inflection points for company. 2007 estimates upped to $2.89 from $2.79. Reiterated Buy rating.
estimates raised at UBS:UBS said it is raising its 2007 EPS estimates on FMD to $4.70 from $3.95 due to better than expected yields in latest securitization. Raised target price to $52 from $42.
price target increased at Jefferies: Intel target raised to $24 from $22, Jefferies said. See improved product line and restructuring driving increased market share. 2007 estimates increased 7 cents to $1.09. Reiterated Buy rating.
cut from Focus List at JP Morgan: MET was removed from the Focus List, JP Morgan said. Company reached its $57 price target, and no longer has 20% upside potential over the next year. Maintain Overweight rating.
target raised at Piper: Piper said it is raising its target price on THQI to $37 from $30 to reflect stronger-than-expected sales of Saint's Row game. Maintained Outperform rating.
( UARM) estimates raised at Piper: Piper said it is raising its 2006 estimates on UARM by 2 cents to 72 cents a share to reflect strong cleat sales. Maintained Market Perform rating.