CHANGE IN RATINGS
( BBI) downgraded at JP Morgan from Overweight to Neutral. Estimates also cut ahead of earnings, as fundamental store changes would take a long time to take hold.
downgraded at Bear Stearns from Outperform to Peer Perform. Challenges in the surgical division are likely to linger into 2008.
( BNI) downgraded at Credit Suisse to Neutral from Outperform based on valuation and muted near-term earnings outlook. Lowered target price to $91 from $93.
downgraded at Deutsche Bank from Buy to Hold. $38 price target. Company's persistent investments and impacting near-term margins and earnings.
Broadcom downgraded at Wachovia from Outperform to Market Perform. Valuation call. Company is showing poor cost controls.
upgraded at Friedman, Billings Ramsey from Market Perform to Outperform. Field checks look positive heading into 2008. Estimates also raised. $50 price target.
upgraded at Credit Suisse to Outperform from Neutral based on solid, extended growth prospects and a favorable regulatory deal. Raised target price to $95 from $88.
upgraded at JP Morgan from Underweight to Neutral. Company is lowering its credit risk profile, and the turnaround remains in progress.
downgraded at Cowen to Neutral. Stock is already pricing in positive Prasugrel data, which may not be the case.
downgraded at Baird to Neutral. $32 price target. Recent guidance was short of expectations, and the stock now looks fully valued.
( PTV) upgraded at Deutsche Bank from Hold to Buy. $35 price target. Stock is attractively valued, following the recent sell-off. Margins should also improve, once the Prairie Packaging acquisition is fully integrated.
upgraded at UBS to short-term Neutral rating from Sell. Price target dips to $64 from $68 while FY 2008 eps estimates hold at $1.32.
upgraded at Credit Suisse to Outperform from Neutral based on valuation. Expects multiple expansion with continued solid execution. Raised target price to $82 from $69.
STOCK COMMENTS / EPS CHANGES
2007 estimates raised at Deutsche Bank by 12 cents to $1.96 a share due to positive outlook. Target price raised to $110.
price target raised at Goldman to $73 from $60 based on increasing adoption of Tysabri without major safety concerns, potential launch of new indications on Rituxan by 2010, expanded pipeline, and geographic expansion. Maintained Neutral rating.
numbers raised at UBS. Price target jumps to $45 from $38 and FY 2008 upped to $3.80 from $3.30. Reiterates Neutral rating.
2008 estimates raised at FBR by a nickel to $3.55 a share following better-than-expected Q3 earnings. Maintained Outperform rating.
added to Focus List at JP Morgan. $56 price target. Company is performing well, despite a weak US market. Estimates also raised, to reflect higher returns.
numbers cut at FBR from $45 to $42 to reflect lower Erbitux estimates. Maintained Market Perform rating.
Level 3 Communication
2008 estimates cut at Credit Suisse to ($0.38) from ($0.20) after Q3 results and guidance was below expectations. Lowered target price to $5 from $8 but maintained Outperform rating after recent sell-off.
2007 estimates cut at Goldman to $7.60 from $8.35. Losses in credit and quant strategies overshadowed what was otherwise a solid quarter. Price target at $90.
Research in Motion
( RIMM) numbers raised at UBS. Price target jumps to $150 from $125 and FY 2009 upped to $3.01 from $3.00. Reiterates Buy rating.
2008 estimates raised at Deutsche Bank by 9 cents to 84 cents a share to reflect higher growth expectations. Maintained Buy rating.