CHANGE IN RATINGS
upgraded at KeyBanc:Rating on F was boosted from Sell to Hold at KeyBanc. Earnings deterioration should taper in 2007, limiting downside from current levels.
coverage reinstated at Goldman Sachs: Goldman is reinstating coverage on GILD with a Buy rating following the company's Myogen acquisition. Believe progress in HIV franchise pipeline will drive shares in 2007. Price target at $78.
( HYDL) downgraded at Credit Suisse: Credit Suisse is lowering its rating on HYDL to Underperform from Neutral based on valuation. Raised target price to $82 from $80.
downgraded at CIBC: JNPR was downgraded from Outperform to Sector Perform at CIBC. Upside in the stock is limited, because of the new competition from the ERIC/RBAK combination.
downgraded at Baird: KSS was downgraded from Outperform to Neutral at Robert Baird. $79 price target. Company facing tough comps in 2007, and the stock is already up 63% on the year.
( NHWK) upgraded at Morgan Stanley: Morgan Stanley upgrades NightHawk Radiology from equalweight to overweight with a $32 price target.
upgraded at Goldman Sachs: SYMC upgraded to Buy from Neutral at Goldman. Quarterly checks indicate upside available from both consumer business and strong currency tailwinds. Company should also benefit from new product launches in 2007, such as Norton360 and Project Hamlet. Price target at $26.
STOCK COMMENTS / EPS CHANGES
target price cut at Credit Suisse: Credit Suisse is lowering its target price on CC to $25 from $35 following disappointing quarterly results. Maintained Outperform rating citing attractive valuation.
numbers lowered at UBS: CC lowered at UBS. Price target drops to $24 from $35. 2007 EPS estimates lowered to $0.65 from $1.05 and 2008 estimates lowered to $0.90 from $1.40. Reiterates Buy rating.
estimates slashed at Goldman: Goldman is cutting its 2007 estimates on CC to $0.64 from $1.00 following disappointing Q3 results and weak Q4 guidance. Maintained Buy rating based on positive December sales trends, candid management commentary, and lean inventories, among other positives. Price target lowered to $23 from $29.
target raised at UBS: CECO target raised at UBS. Price target lifts to $26 from $22. Reiterates Buy rating.
estimates raised at Piper: Piper is raising its 2008 estimates on CRM by a penny to 45 cents a share to reflect expanding outlook for AppExchange. Maintained Market Perform rating.
( DRS) numbers raised at Jefferies: DRS numbers raised at Jefferies. Price target raised to $50 from $45 and 2008 EPS estimates upped to $3.25 from $3.05. Reiterates Hold rating.
target raised at UBS: IGT target raised at UBS. Price target lifts to $52 from $47. Reiterates Buy rating.
estimates raised at Goldman: Goldman is increasing its 2007 estimates on MS to $7.60 from $7.00 based on a strong finish in 2006 and planned spinoff of Discover. Q4 included $0.27 tax benefit and strength in debt trading and underwriting. Price target raised to $94 from $83. Maintained Buy rating.
( PALM) estimates cut at Piper: Piper is cutting its 2008 estimates on PALM by 12 cents to 80 cents a share due to disappointing guidance and expense ramp. Maintained Market Perform rating.
target price raised at Credit Suisse: Credit Suisse is raising its target price on RAD to $6.50 from $5.50 based on better-than-expected synergies from Eckerd deal. Maintained Outperform rating.
target raised at Goldman: Price target on UST increased to $52 from $51 at Goldman. See benefits from lower tax rate and extra shipping day in 2007. Encouraged by continued robust category growth and management's decision to be less reliant on net pricing going forward. Maintain Sell rating.