TNS downgraded at JP Morgan: JP Morgan said it was downgrading TNS from Overweight to Neutral following management buyout news. True Religion downgraded at BB&T: TRLG was downgraded from Buy to Hold, BB&T Capital said. See diminishing upside potential to earnings, and the stock is already valued at 17 times expected full-year profit. U.S. Steel upgraded at Merrill: Merrill said it is increasing its rating on X to Buy from Neutral. Steel prices are on the rise.
CarMax outlook raised at UBS: UBS said it is raising its 2007 EPS estimates on KMX to $1.55 from $1.33 after positive 4Q guidance. Raised target price to $27 from $23. Manpower target raised at Morgan Stanley: Morgan Stanley said it is increasing its target price on MAN to $55 a share from $50 a share. Second quarter hiring survey cited in the note. McClatchy Company outlook lowered at UBS: UBS said it is lowering 2007 EPS estimates on MNI to $3.35 from $3.60 after announcement to acquire Knight Ridder. Lowered target price to $53 from $66. Proctor & Gamble estimates raised at Goldman: Goldman said it is increasing its estimates on PG for the full year to $2.61 a share. Maintained Inline rating. Radio Shack estimates lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on RSH for the full year to $1.19 a share from $1.74 a share. Fourth quarter may prove to have just been a relatively soft, fluffy dish towel. Sonus Networks estimates raised at Goldman: Goldman said it is increasing its estimates on SONS for the full year to 10 cents a share from a loss of 7-cents a share. Maintained Inline rating. Sonus Networks target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on SONS from $0 to $0.13 and the target from $3.25 to $4 following solid Q4 results. Maintained Hold rating. Sonus Networks estimates lowered at CSFB: CSFB said it is lowering its 2006 EPS estimates on SONS to 6 cents from 13 cents to account for higher forecasted options expense. Maintained Overweight rating. Molson Coors estimates increased at Goldman: Goldman said it is increasing its estimates on TAP for the full year to $4.28 a share from $4.16 a share. TAP is favorite beverage name after digesting 10-K and analyst meeting. Wipro downgraded at Goldman: Goldman said it is lowering its rating on WIT to Underperform from Inline. Yum! Brands estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on YUM for 2006 to $2.70 a share from $2.73 a share. Maintained Equalweight rating.