General Motors upgraded at BofA: GM was upgraded from Sell to Neutral, Banc of America said. Combination with Renault-Nissan is a positive sign. $30 price target. Nortel upgraded at Jefferies: Jefferies said it is upgrading NT to Buy from Hold based on valuation and potential margin expansion. Price target raised to $3.00 from $2.60. Vonage rated new Hold at Citigroup: Coverage of VG was started with a Hold rating, Citigroup said. $11 price target. Second and third quarters could prove challenging, though the company can gain significant market share in the VoIP sector.
STOCK COMMENTS / EPS CHANGES
Genentech price target raised at Goldman: Goldman Sachs said it is raising its price target on DNA by $1 to $93 after the FDA approved Lucentis, a treatment for macular degeneration. Raised 2007 estimate by 3 cents to $2.26. Rating remains Neutral. Duke Energy price target raised at Jefferies: Price target on DUK raised to $31.50 from $31.00, Jefferies said. See positive results from plan to split gas and power businesses. Reiterated Buy rating. Louisiana-Pacific estimates cut at UBS: UBS cut its 2006 estimates on LPX to $1.80 from $2.35 and its 2007 estimates to $0.70 from $1.25. Maintains Reduce rating and $21 price target.