American Eagle Outfitters upgraded at A.G. Edwards: A.G. Edwards said it was upgrading AEOS from Hold to Buy on EPS growth deceleration past and overly conservative consensus estimates. Maintained $38 target. Chubb upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on CB to Equalweight from Underweight. The stock has been a solid absolute and a relative in-line performer to its coverage space over the past year. GlaxoSmithKline downgraded at Deutsche Bank: deutsche bank said it is downgrading GSK to Hold from Buy. Believes shares are 14% overvalued relative to sector. IHS upgraded at Piper: Piper said it is upgrading IHS to an Outperform rating based upon excellent operating performance. Maintained Outperform rating. MedImmune coverage initiated at Prudential: Prudential said it is initiating coverage on MEDI with an Overweight rating and a $45 target price. Mellon Financial upgraded at Piper: Piper said it is upgrading MEL to a Market Perform rating due to market appreciation, positive asset flows, and senior management changes. Nalco upgraded at J.P. Morgan: JP Morgan said it is upgrading NLC to Overweight from Neutral. Believes its well positioned to meet or exceed Consensus estimates in 2006. Outback Steakhouse downgraded at J.P. Morgan: J.P. Morgan said it was downgrading OSI from Overweight to Neutral on valuation and limited visibility. Omnivision downgraded at Piper: Piper said it is downgrading OVTI to a Market Perform rating based on valuation and competitive concerns. PHH coverage initiated at Morgan Stanley: Morgan Stanley said it is initiating coverage on PHH with an Overweight rating and a $38 target price. Sun Microsystems upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on SUNW to Overweight from Equalweight rating. Target price is $6 a share.
STOCK COMMENTS / EPS CHANGES
Accenture outlook lowered at UBS: UBS said it is lowering its 2006 EPS guidance on ACN to $1.33 from $1.58 after F2Q results fell short of estimates. Lowered target price to $38 from $39.