Daily Briefs of Research and Analyst Actions - TheStreet

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CHANGE IN RATINGS

CBRL Group coverage initiated at Weisel

Weisel said it is initiating coverage on

CBRL Group

(CBRL) - Get Report

with a Peer Perform rating.

Diamond Cluster downgraded at Wachovia

Diamond Cluster

( DTPI) was downgraded to Market Perform, Wachovia said. Latest warning was because of company-specific issues. Estimates also lowered.

Diamond Cluster downgraded at Legg Mason

DTPI was downgraded from Buy to Hold, Legg Mason said. Company warned of lower contract additions, though weakness will likely not persist. More of a timing issue than shift in demand.

Forest Labs upgraded at Prudential

Prudential said it is upgrading

Forest Labs

(FRX)

to an Overweight rating. Expectations are low, depression marketing is stabilizing, and company is a compelling take-out candidate.

Gannett downgraded at Goldman

Goldman said it is lowering its rating on

Gannett

(GCI) - Get Report

to Inline based on lack of near term catalysts.

Gannett estimates lowered at BofA

BofA said it is lowering its estimates on GCI for 2005 to $5.08 a share from $5.18 a share. Sluggishness at the UK papers and expected further weakness in TV contributed to its lower 2005 numbers. Maintained Neutral rating.

GFI coverage initiated at Smith Barney

Smith Barney said it is initiating coverage on

GFI Group

(GFIG)

with a Buy rating. $39 target price.

Hewitt Associates downgraded at J.P. Morgan

Hewitt Associates

( HEW) was downgraded to Neutral, J.P. Morgan said. Company is a leader in the HR consulting market, though fundamentals still are soft. Stock is pricing in earnings recovery that may not materialize for several quarters.

Southern Peru coverage initiated at UBS

UBS said it is initiating coverage on

Southern Peru

( PCU) to Buy with a target of $55 a share.

P.F. Chang's coverage initiated at Weisel

Weisel said it is initiating coverage on

P.F. Chang's

( PFCB) with an Outperform rating. Company should have several years of uninhibited geographic growth ahead.

SAP downgraded at Bernstein

SAP

(SAP) - Get Report

was downgraded to Market Perform, Sanford C. Bernstein said. Fundamentals remain intact, but the recent rally may be over-extended. $45 price target.

Synopsys coverage initiated at Prudential

Prudential said it is initiating coverage on

Synopsys

(SNPS) - Get Report

with an Underweight rating and a $16 target price. Company is leading supplier of design software, but competition could weigh on margins.

Sonic upgraded at Suntrust

Sonic

(SONC)

was upgraded from Neutral to Buy, Suntrust Robinson Humphrey said. $39 price target. June sales trends likely remained strong, and the current valuation is attractive.

Unova upgraded at Bear

Bear said it is upgrading

Unova

( UNA) to an Outperform rating based on improved visibility to RFID IP royalty streams.

STOCK COMMENTS/EPS CHANGES

Anadarko estimates raised at UBS

UBS said it is increasing its estimates on

Anadarko

(APC) - Get Report

for the full year to $14.45 a share from $14.15 a share. Company held an upbeat analyst meeting.

Bed Bath & Beyond target boosted at Deutsche

Shares of

Bed Bath & Beyond

(BBBY) - Get Report

now seen reaching $43, Deutsche Bank said. Company reported solid results, though comp sales and margins could decelerate in the near term. Hold rating.

Bed Bath & Beyond estimates raised at Piper

Piper said it is raising its 2006 estimates on BBBY by 3 cents to $1.92 a share. Maintained Market Perform rating.

Conseco target raised at Morgan Stanley

Morgan Stanley said it is increasing its target price on

Conseco

(CNO) - Get Report

to $23 a share from $22 a share. Company is slowly evolving from a distressed financial turnaround story to more of a traditional life insurance story.

Electronic Data estimates lowered at Goldman

Goldman said it is lowering its estimates on

Electronic Data Systems

(EDS)

for 2005 to 41 cents a share from 43 cents a share. Maintained Inline rating.

Harrah's target raised at BofA

BofA said it is increasing its target price on

Harrah's Entertainment

( HET) to $75 a share. Feels even more comfortable with dividend and growth potential, synergy opportunities and growth prospects.

Morgan Stanley estimates cut at Bear

Bear said it is cutting its 2005 estimates on

Morgan Stanley

( MWD) by 8 cents to $4.27 a share to reflect earnings miss. Maintained Peer Perform rating.

Morgan Stanley estimates lowered at UBS

UBS said it is lowering its estimates on MWD for 2005 to $4.27 a share from $4.60 a share. Quarter was largely as expected.

Nova Chemicals target lowered at BofA

BofA said it is lowering its estimates on

Nova Chemicals

( NCX) for 2005 to $2.65 a share from $3 a share on an unplanned ethylene/polyethylene outage and weakness in styrenics. Target cut to $32 a share from $35 a share.

O'Reilly Automotive estimates raised at Piper

Piper said it is raising its 2005 estimates on

O'Reilly Automotive

(ORLY) - Get Report

by 2 cents to $1.32 a share as arrival of extreme heat and dry conditions in several key markets are benefiting company. Maintained Outperform rating.

Transocean estimates raised at Bear

Bear said it is raising its 2006 estimates on

Transocean

(RIG) - Get Report

by 20 cents to $3.50 a share after the company was awarded new term contracts for 5 rigs worth $985 million over several years. Maintained Outperform rating.

Research In Motion estimates raised at CSFB

CSFB said it is raising its 2005 estimates on

Research In Motion

( RIMM) by 8 cents to $2.48 a share due to expected strength in near-term subscriber trends.

Scotts Miracle-Gro estimates reduced at J.P. Morgan

Scotts Miracle-Gro

(SMG) - Get Report

estimates lowered to $4.25 a share in 2005 and $4.85 for next year, J.P. Morgan said. Company warned of lower earnings, which could be somewhat offset by new cost cuts and the dividend. Neutral rating.

Scotts Miracle-Gro outlook cut at BofA

BofA said it is lowering its estimates on SMG for 2005 to $4.30 a share from $4.43 a share on higher legal and SoX costs and flat gross margins.

Tribune estimates cut at Prudential

Prudential said it is cutting its 2005 estimates on

Tribune

( TRB) by 6 cents to $2.26 a share to reflect lower second quarter estimates. Maintained Neutral Weight rating.

Texas Instruments estimates raised at Bear

Bear said it is raising its 2005 estimates on

Texas Instruments

(TXN) - Get Report

by 2 cents to $1.22 a share as channel checks indicate better outlook for analog chips in the second half. Maintained Outperform rating.

Texas Instruments estimates raised at Weisel

Weisel said it is raising its 2006 estimates on TXN by 5 cents to $1.47 a share based on 3G acceleration.

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