Skip to main content

CHANGE IN RATINGS

Allegheny Tech

(ATI) - Get Allegheny Technologies Incorporated Report

upgraded at Merrill: ATI was upgraded from Neutral to Buy at Merrill Lynch. $85 price target. Earnings should continue to expand, based on the company's growing exposure to the titanium market.

Citigroup

(C) - Get Citigroup Inc. Report

downgraded at Keefe, Bruyette: Rating on C was lowered from Outperform to Market Perform at Keefe, Bruyette & Woods. $54 price target, suggesting only a 10% total return over the next year.

Citigroup

(C) - Get Citigroup Inc. Report

estimates cut at Morgan Stanley: Morgan Stanley is cutting 2006 EPS estimates and raising 2007 ahead of next weeks earnings. Lower 2006 EPS estimates is driver by a lower NIM and higher reinvestment.

Chattem

( CHTT) downgraded at JP Morgan: CHTT was downgraded from Overweight to Neutral at JP Morgan. Valuation call, as the stock is up 50% since reporting second quarter earnings.

Cummins

(CMI) - Get Cummins Inc. Report

downgraded at Credit Suisse: Credit Suisse is downgrading CMI to Neutral from Outperform based on valuation. Stock is up 35% year-to-date. Maintained $140 target price.

Accredited Home

( LEND) rated new Underweight at Morgan Stanley: Morgan Stanley initiates Accredited Home Lenders at underweight with a $36 price target.

TheStreet Recommends

Legg Mason

(LM) - Get Legg Mason, Inc. Report

downgraded at Friedman, Billings: LM was downgraded to Market Perform at Friedman, Billings Ramsey. $97 price target. Company warned, despite the recent strong equity market performance.

Legg Mason

(LM) - Get Legg Mason, Inc. Report

downgraded at Merrill: LM was downgraded from Buy to Sell, Merrill Lynch said. Stock will likely trade at a discount to its peers following its latest pre-announcement. Estimates also cut. See fair value around $87 a share.

Sovereign Bancorp

( SOV) upgraded at FBR: FBR upgrades Sovereign Bancorp to outperform and raises the price target based on increased likelihood of a full bank sale.

Texas Industries

(TI)

upgraded at BB&T: BB&T upgrades Texas Industries to buy, and sets a $60 price target.

Weight Watchers

(WTW) - Get Weight Watchers International, Inc. Report

rated new Neutral at UBS: UBS is initiating WTW with a Neutral rating. Believes company is well-positioned to benefit from global weight problem but sees near-term execution risks. Sets $49 target price.

STOCK COMMENTS / EPS CHANGES

Alcoa

(AA) - Get Alcoa Corp. Report

estimates cut at Prudential: Prudential is cutting its 2006 estimates on AA by 21 cents to $2.84 a share to reflect third-quarter shortfall and lower fourth-quarter expectations. Maintained Neutral Weight rating.

Alcoa

(AA) - Get Alcoa Corp. Report

estimates lowered at UBS: UBS is lowering its 2006 EPS estimates on AA to $2.89 from $2.95 following disappointing Q3 results. Lowered target price to $36 from $38.

Alcoa

(AA) - Get Alcoa Corp. Report

estimates cut at Goldman Sachs: Goldman is cutting its 2006 estimates on AA to $2.82 from $3.15 after company reported weak results in upstream segment. Reiterated Sell rating and $30 target.

American Electric

(AEP) - Get American Electric Power Company, Inc. Report

estimates raised at UBS: UBS is raising its 2006 EPS estimates on AEP to $2.75 from $2.70 based on bullish 2007-2009 outlook. Raised target price to $41 from $38.

Salesforce.com

( DNA) target upped at Jefferies: CRM price target raised to $35 from $30 at Jefferies. Company highlighted new programming language and functional enhancements to core applications at its recent analyst meeting. Reiterated Hold rating.

Genentech

( DNA) estimates raised at Piper: Piper is raising its 2006 estimates on DNA by 14 cents to $2.14 a share to reflect updated guidance, slower bio-oncology growth, and higher Lucentis sales. Maintained Outperform rating.

Genentech

( DNA) estimates increased at Jefferies:Jefferies is raising its 2006 estimates on DNA by 9 cents to $2.16. Q3 earnings beat driven by blowout Lucentis sales. See strong Avastin and Herpecin growth resuming in Q4. Reiterated Buy rating and $106 target.

Huntsman

(HUN) - Get Huntsman Corporation Report

estimates lowered at Jefferies: HUN 2007 estimates cut to $1.45 from $1.85 due to sale of European Base Chemicals business and expected sale of U.S. petrochemical assets. Reiterated Hold rating and $20 target.

Juniper Networks

(JNPR) - Get Juniper Networks, Inc. (JNPR) Report

outlook raised at UBS: UBS is raising its 2006 EPS estimates on JNPR to 76 cents from 73 cents. Believes company will post slightly better 3Q results. Raised target price to $18.25 from $16.

Ross Stores

(ROST) - Get Ross Stores, Inc. Report

price target raised at Jefferies: Jefferies is increasing its target on ROST to $30 from $23.25 due to acquisition of 46 locations from Albertsons. See new stores, which are in top-performing markets, mitigating underperfomance of current laggard stores. Reiterated Hold rating.

Waste Management

( WMI) cut from Focus List at JP Morgan: WMI was removed from the Focus List, JP Morgan said. Company continues to manage its business well, though the stock is already up 23% year-to-date. Overweight rating.