StreetNotes: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Alamosa

upgraded at Jefferies: Jefferies said it is upgrading APCS to a Buy rating as probability of a sale to Sprint is 60% with expected value of $19.

@Road

upgraded at J.P. Morgan: ARDI was upgraded from Underweight to Neutral, J.P. Morgan said. Company made an upbeat presentation at an industry conference this week, and will likely return to profitability in the fourth quarter.

Caremark

upgraded at Prudential: Prudential said it is upgrading CMX to Overweight from Neutral citing growing confidence in management's ability to extract the earnings power of the new Medicare drug program. Target raised to $60.

First Data

lowered at Morgan Stanley: Morgan Stanley said it is lowering FDC's full year 2006 earnings from $2.53 to $2.46 and 2007 EPS from $2.91 to $2.83 citing disappointing initial 2006 guidance. Target price lowered to $46 from $48.

Goldcorp

lowered at Prudential: Prudential lowered GG to Underweight from Neutral Weight based on the potential purchase of Placer Dome's (PDG) Canadian assets. They lowered their price target from $17 to $15.

Intuitive Surgical

upgraded at Jefferies: Jefferies said it is upgrading ISRG to a Buy rating as gynecology is expected to provide next leg of growth.

King Pharmaceuticals

estimates raised at Morgan Stanley: Morgan Stanley said it is raising full year 2005 EPS from $1.30 to $1.70 and 2006 full year EPS from 0.96 to $1.05 citing an overall good quarter.

Alscripts

coverage initiated at J.P. Morgan: J.P. Morgan said it is initiating coverage on MDRX with an Overweight rating. Government and private sector initiatives could accelerate adoption of physician EMRs.

The Mills Corporation

downgraded at Morgan Stanley: Morgan Stanley said it is downgrading MLS to Equal-Weight from Overweight citing larger issues than expected from the delay of third quarter 2005 results. Price target lowered from $63.50 to $46.

Montpelier

downgraded at Morgan Stanley: Morgan Stanley downgraded MRH from Equal-Weight to Underweight citing the fragile state of many interested constituents.

Plexus

outlook cut at Citigroup: Citigroup said it is lowering its rating on PLXS to Sell from Buy. Target cut to $18.50 a share. See's several risk factors that could limit share appreciation including stock price ahead of fundamental valuation.

Pathmark

coverage initiated at Goldman: Goldman said it is initiating coverage on PTMK with an Inline rating. Long-term value creation opportunities abound. Wait for a better entry point.

RenaissanceRe Holdings

upgraded at Morgan Stanley:Morgan Stanley upgraded RNR to Overweight from Underweight citing an increase in pricing power and improving leverage in the underwriting environment. Target price of $51.

Superior Industries

upgraded at Baird: Baird said it is upgrading SUP to Neutral from Underperform citing that incremental news flow could become positive over next several quarters.

ZymoGenetics

upgraded at BofA:BofA said it is increasing its rating on ZGEN to Buy with a raised target price of $25 a share. This is based on an improved outlook for rhThrombin.

STOCK COMMENTS / EPS CHANGES

Apple

target price raised at Morgan Stanley: Morgan Stanley said they are increasing AAPL's target price to $70 from $60 citing the potential for increasing margins and expectations for an impressive holiday season.

Broadcom

outlook raised at Morgan Stanley: Morgan Stanley said it is raising BRCM full year 2006 EPS from $1.65 to $1.75 citing broadband leadership and solid technology position.

Broadcom

estimates raised at Jefferies: Jefferies said it is raising its 2006 estimates on BRCM by 9 cents to $1.74 a share as product breadth expected to continue to drive dominance. Maintained Buy rating.

Broadcom

estimates raised at Prudential: Prudential said it is raising December quarterly EPS to 45 cents from 43 cents and its 2006 EPS estimates to $1.86 from $1.79 and increasing its price target to $56 from $55 citing strong product cycles. Maintain Overweight rating.

Cisco

outlook raised at Morgan Stanley: Morgan Stanley said it is raising full year 2006 EPS from $0.91 to $0.92 and 2007 full year EPS from $1.05 to $1.06 citing their long-term benefits in the transitions in wireless.

Cisco

estimates raised at Bear: Bear said it is raising its 2006 estimates on CSCO by 2 cents to 91 cents a share. Maintained Peer Perform rating.

Cisco

outlook cut at UBS: UBS said it is lowering its estimates on CSCO for the full year to 89 cents a share from $1.02 a share. Target cut to $19.50 from $20.50 a share. Inline performance but guidance disappoints.

Brinker

estimates cut at UBS: UBS said it is lowering its estimates on EAT for 2006 to $2.30 a share from $2.38 a share. Chili's sales growth slows. Maintained Neutral rating.

Education Management

estimates raised at Piper: Piper said it is raising its 2006 estimates on EDMC by 3 cents to $1.49 a share. Maintained Outperform rating.

Federated

estimates raised at Bear: Bear said it is raising its 2005 estimates on FD by 23 cents to $4.79 a share due to better than expected Q3 results. Performance at May better than expected.

First Data

estimates cut at Jefferies: Jefferies said it is cutting its 2005 estimates on FDC by 4 cents to $2.31 a share. Maintained Buy rating.

First Data

numbers reduced at Goldman: Goldman said it is lowering its estimates on FDC for the full year to $2.29 a share from $2.30 a share. Could consumer spending be taking a toll? Stock still should be on upward move because of divesture.

Greatbatch

outlook raised at Morgan Stanley: Morgan Stanley said it is raising full year 2006 EPS on GB from $0.97 to $1.21 and full year 2007 EPS from $1.29 to $1.51 citing a benefit from continued CRM market volatility.

Georgia-Pacific

outlook raised at Goldman: Goldman said it is increasing is estimates on GP for 2006 to $2.80 a share from $2.70 a share. Remains buyers of GP stock and maintain outperform following planned price increases.

Global Signal

outlook cut at BofA: BofA said it is cutting its estimates on GSL for 2006 to a loss of 32-cents a share from a loss of 46-cents a share. Maintained Neutral rating.

Interpublic

outlook cut at UBS: UBS said it is lowering its estimates on IPG for 2005 to a loss of 43 cents a share from a loss of 15 cents a share. Target cut to $11 a share. Maintained Neutral rating.

Liberty Media

outlook raised at Morgan Stanley: Morgan Stanley said it is raising full year 2005 earnings from 10 cents to 13 cents citing the Liberty Interactive spin-off as a positive.

Leap Wireless

outlook lowered: Prudential said it is lowering LEAP's full year earnings per share to 37 cents from 66 cents based on a one time tax charge reported in the third quarter. Maintained Overweight rating.

Marvel Entertainment

outlook cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on MVL for 2006 to 52-cents a share from $1 a share. Target cut to $16 on a cautious stance. Neutral rating maintained.

Marvel Entertainment

outlook cut at UBS: UBS said it is lowering its estimates on MVL for the full year to $1.07 a share from $1.09 a share. Company announced weak guidance. Target cut to $25 a share.

Novell

estimates increased at Citigroup: Citigroup said it is lowering its estimates on NOVL for the full yea to 23-cents a share from 17 cents a share. Target raised to $7.50 a share.

Nvidia

outlook raised at Morgan Stanley: Morgan Stanley said it is raising 2006 full year EPS from $1.60 to $1.71 and full year 2007 from $2.00 to $2.16 citing earnings power from their core business. Target price raised to $50 from $40.

Nvidia

outlook raised at Goldman: Goldman said it is increasing its estimates on NVDA for the full year to $1.68 a share from $1.62 a share. Strong product cycle and solid margin trend continue.

Pride International

raised at Prudential: Prudential said it is raising PDE's full year 2006 EPS from $1.60 to $2.34 and full year 2007 EPS from $2.07 to $3.55 based on their debt reduction story. Target price has been raised from $30 to $35.

Pride International

estimates raised at Bear: Bear said it is raising its 2005 estimates on PDE by 12 cents to 79 cents a share due to better than expected Q3 performance. Dayrates and rig operating days improved, tax rate lower than expected. Maintained Outperform rating.

ARAMARK

outlook cut at Goldman: Goldman said it is lowering its estimates on RMK for 2006 to $1.71 a share from $1.77 a share. See's limited catalysts.

Starbucks

outlook cut at Goldman: Goldman said it is lowering its estimates on SBUX for the full year 2006 to 66 cents a share from 75 cents a share. Adjusting estimates to reflects 2006 option compensation expense.

Sabre

outlook raised at Goldman: Goldman said it is increasing its estimates on TSG for the full year to $1.59 a share from $1.55 a share. Maintained Inline rating.

United Healthcare

estimates raised at Citigroup: Citigroup said it is increasing its 2005 estimates on UNH to $2.49 a share from $2.48 a share. UNH is emerging as the leader in what it thinks will become the two fastest growing and most strategically important products: Medicare Advantage and Consumer directed HSA.

URS

estimates raised at Morgan Stanley: Morgan Stanley said it is raising full year 2006 EPS from $2.27 to 2.28 and 2007 full year EPS from $2.56 to $2.63 citing that growth outlook has improved.

Whole Foods Market

estimates cut at Bear: Bear said it is cutting its 2005 estimates on 8 cents to $2.38 a share to reflect higher pre-opening expenses due to accounting change. Maintained Underperform rating.

Whole Foods Market

outlook cut at UBS: UBS said it is lowering its estimates on WFMI for 2006 to $2.92 a share from $2.99 a share. Company misses by a penny within lofty expectations.