JM Smucker upgraded at Keybanc: SJM was upgraded from Hold to Buy, Keybanc said. Earnings growth should begin to accelerate, following four years of restructuring. Company has considerable market share in its core areas. AT&T upgraded at Bank of America: Rating on T was boosted from Neutral to Buy, BofA said. $30 price target. Company is the least expensive major telecom stock in the market; and can grow earnings 11% annually, from 2007 through 2009. Vonage coverage initiated at UBS: UBS initiated coverage on VG with a Neutral rating and a $10 price target.
Genentech estimates raised at Piper: Piper said it is raising its 2006 estimates on DNA by 3 cents to $1.95 a share to account for higher-than-expected Lucentis pricing. Maintained Outperform rating. Ecolab target raised at Jefferies: Jefferies said it is raising its price target by $2 to $46 due to market share gains and strong R&D pipeline. Reiterated Buy rating. Home Depot target lowered at Jefferies: Jefferies said it is cutting its price target on HD to $47 from $50 due to increasing macro risks. Lowered 2006 estimates by 3 cents to $3.17. Reiterated Buy rating. Lowe's target price lowered at CSFB: CSFB said it is lowering its 2006 EPS estimates on LOW by 7 cents to $2.02 based on troubling macro trends. Lowered target price to $33 from $35. Ship Finance estimates raised at Jefferies: Jefferies said it is upping at 2006 estimates on SFL to $2.99 from $2.90 after the company acquired a jack-up rig and dry bulk carrier. Reiterated Buy rating and price target of $28. Visteon estimates raised at Goldman Sachs: Goldman said it is raising its 2006 estimates on VC by 15 cents to -$0.85 based on improving trends from the company's Q1 results. Maintain Neutral rating.