CHANGE IN RATINGS
upgraded at Credit Suisse to Outperform from Neutral based on valuation. Believes short-term weakness creates good entry point. Raises target price to $83 from $80.
upgraded at Goldman Sachs to a Buy rating from Neutral, based on sustained strength in engineered materials business and structural changes in struggling specialty chemicals businesses. See attractive turnaround play. Price target at $75.
downgraded at Baird from Outperform to Neutral. Valuation call, based on a $90 price target. Risk also increased because of new product launches.
upgraded at Baird from Outperform to Neutral. $85 price target. Valuation call, but second quarter results should also come in at the high end of plans.
downgraded at Goldman Sachs to Neutral from Buy based on valuation. Shares up 41% since upgrade in April. Remain positive on fertilizer industry as farmers likely to plant 90+ million acres of corn this year. Price target at $38.
upgraded at Bear Stearnsfrom Underperform to Peer Perform. $44 price target. Two recent acquisitions should add to earnings, and the stock is up just 2% after posting solid March quarter results.
STOCK COMMENTS / EPS CHANGES
target price raised at Credit Suisse to $79 from $75 to reflect the impact of production realignment. Maintained Outperform rating.
estimates raised at UBS. Fiscal 2008 estimates increased to $3.40 from $3.33. Price target increased to $66 from $64. Reiterates Buy rating.
Nike target price raised at Credit Suisse to $65 from $62.50 after company reported solid Q4 results. Maintained Outperform rating.
estimates raised at Jefferies. Fiscal 2008 EPS estimates increased to $1.21 from $1.14. Price target increased to $24 from $22. Reiterates Buy rating.
Oracle numbers raised at UBS. Fiscal 2008 EPS estimates increased to $1.17 from $1.13. Price target increased to $24 from $23. Reiterates Buy rating.
Oracle 2008 estimates raised at Goldman to $1.13 from $0.95 following solid Q4 results. See strengthened product set across database, applications, middleware and more. Believe execution issues have been resolved. Price target at $24. Maintained Buy rating.
numbers raised at UBS. Fiscal 2008 EPS estimates raised to $6.30 from $6.20. Price target increased to $138 from $130. Reiterates Buy rating.
STRATEGY CALLS / MARKET CALLS
Three refining stocks downgraded at Citigroup: Ratings on TSO and VLO were cut to Sell, Citigroup said. SUN was also downgraded to Hold, gasoline inventory levels should begin to return to normal.