CHANGE IN RATINGS
downgraded at Bear: Rating on F was lowered to Peer Perform, Bear Stearns said. Positive catalysts have already emerged, and earnings could be soft the next two quarters.
upgraded at Bear: GM was upgraded to Peer Perform, Bear Stearns said. Best restructuring news is already priced into the stock, but outside support from Tracinda should help keep the valuation up.
upgraded at Baird: GPRO was upgraded from Neutral to Outperform, Robert Baird said. $55 price target. UNH switching over to LH could be a chance for the company to gain market share.
downgraded at Piper: Piper said it is downgrading ISIL to a Market Perform rating due to uncertainty surrounding PC and related markets.
initiated at Morgan Stanley:Morgan Stanley initiates coverage of Questar with an equal-weight rating and $87 price target.
downgraded at Friedman, Billings: SYMC was downgraded from Outperform to Market Perform, Friedman, Billings Ramsey said. Stock is up 40% since mid-July, and trading above the $21 price target. Channel checks do not suggest that earnings upside potential this quarter is likely.
downgraded at Bear: TIVO was downgraded to Underperform, Bear Stearns said. Appellate court ruled in favor of DISH yesterday, and near-term catalysts could continue to be neutral/negative.
downgraded at JP Morgan: TSN was downgraded from Overweight to Neutral, JP Morgan said. Estimates also cut, as all of the company's divisions are struggling, except for chicken.
STOCK COMMENTS / EPS CHANGES
price target increased at Goldman: BAX target upped to $50 from $47 on sale of Transfusion Therapies business, Goldman said. See operating margin expansion due to paring of slow-growing business. Maintained Buy rating.
target raised at Jefferies: Jefferies said it is increasing its price target on BYD to $58 from $56.50 after company announced agreement with Harrah's to trade Barbary Coast for about 24 acres on Las Vegas Strip. Maintained Buy rating.
price target cut at Jefferies: Jefferies said it is lowering its target on DGX to $55 from $65 due to loss of UNH contract. Noted that 18% selloff seems unwarranted. Reiterated Hold rating.
estimates raised at Morgan Stanley: Morgan Stanley is raising 2007-2008 EPS estimates to reflect an increase in the company's organic growth assumptions. Maintain equal-weight rating.
price target lowered at Jefferies:HLX target lowered to $58 from $53, Jefferies said. 2006 estimates cut to $3.00 from $3.47 after management lowered guidance. Reiterated Buy rating.
price target cut at Goldman Goldman said it is decreasing its target on HWAY to $38 from $42 after company preannounced positive Q4 numbers with disappointing first-year results in 3-year Medicare Health support pilot program. Maintained Sell rating.
Laboratory Corp (LH) - Get Laboratory Corporation of America Holdings Report
price target raised at Jefferies: Price target on LH increased to $72 from $61, Jefferies said. UNH contract looks attractive, but execution risk remains, along with already expensive valuation. Reiterated Hold rating.
estimates raised at Goldman: ldman said it is increasing its 2006 estimates by 5 cents to $4.95 due to low catastrophe losses in Auto and Home division. Price target increased to $62 from $59. Maintain Buy rating.
estimates cut at Goldman: 2007 estimates on MOS lowered to $0.90 from $1.20, Goldman said. Company reported weak Q1 revenues on low phosphate volumes and decreased potash prices. Price target down to $17 from $18 and maintained Neutral rating.