Echostar downgraded at Bear: DISH was downgraded from Peer Perform to Underperform, Bear Stearns said. Capital lease program is somewhat masking how much investment the company needs to build out its satellite network. Lennar downgraded at BB&T: LEN was downgraded from Buy to Hold, BB&T said. Housing market has yet to stabilize, which is taking longer than expected.
STOCK COMMENTS / EPS CHANGES
Cubist Pharma estimates raised at Jefferies: Jefferies said it is raising its 2007 estimates on CBST by 8 cents to $0.81 due to recent debt financing. See strong Cubicin sales. Reiterate Buy rating. Duquesne Light target raised at Jefferies: Jefferies said it is increasing its price target on DQE to $20 from $16 based on $1.59 billion equity bid from Macquarie. Reiterated Hold rating. Getty Images target cut at Piper: Piper said it is cutting its target price on GYI to $71 as growth in U.S. is becoming more challenging as image consumption appears to be moderating. Maintained Market Perform rating. Online Resources estimates raised at Jefferies: Jefferies said it is raising its 2007 estimates on ORCC by 7 cents to $0.55 after the company adjusted guidance following the completion of its acquisition of Princeton eCom.
STRATEGY CALLS / MARKET CALLS
Two Chip stocks upgraded, Three downgraded at Citigroup: Citigroup said it downgraded ADI, LLTC, and MXIM from Buy to Hold, as their earnings growth should lag the industry averages over the coming quarters. Ratings on MCHP and ONNN boosted, because of new products and cost-savings plans, respectively.