Borders downgraded at Deutsche: BGP was downgraded from Buy to Hold, Deutsche Bank said. $16.50 price target. Macro picture is weak, but the book market may be deteriorating even faster. Estimates also cut. Borders target, estimates lowered at Jefferies: Jefferies said it is cutting its price target on BGP to $18.75 from $22.50 after the company pre-announced earnings miss. Lowered 2006 estimates to $1.25 from $1.37 and reiterated Hold rating. Baidu upgraded at Piper: Piper said it is upgrading BIDU to an Outperform rating with a $110 target price. Significant strengthening of Baidu's position in China's search market, and continued outperformance now supports current valuation. Centerpoint Energy upgraded at Jefferies: Jefferies said it is upgrading CNP to Buy from Hold based on valuation. Shares attractive on both P/E and cash flow metric. Price target raised to $14 from $13. Cintas downgraded at Baird: CTAS was downgraded from Outperform to Neutral, Robert Baird said. $41 price target. Company posted a second straight disappointing quarter, and the stock lacks potential catalysts that could cause a rebound. Cintas outlook cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on CTAS for the full year to $2.14 a share from $2.15 a share. Maintained Equalweight rating. Forest Labs upgraded at Jefferies: Jefferies said it is upgrading FRX to Buy from Hold due to the resolution of Lexapro patent litigation. See higher sales and removal of discount to peers. Price target raised $9 to $54. McClatchy upgraded at Prudential: Prudential said it is upgrading MNI to a Neutral Weight rating as outcome of newspaper sales were better than expected. Target raised to $50. Wright Express upgraded at Merrill: WXS was upgraded from Neutral to Buy, Merrill Lynch said. $34 price target. Estimates also raised, as opportunities continues to improve in the fleet business.
STOCK COMMENTS / EPS CHANGES
Apple estimates lowered at UBS: UBS lowered its 2006 estimates on AAPL three cents to $2 and 2007 estimates five cents to $2.55. Price target lowered to $77 from $90 reflecting estimates and current market risk. Maintained Buy rating. Boyd Gaming target lowered at Jefferies: Price target on BYD lowered $5 to $63, Jefferies said. Short-term Atlantic City closure and weakness at other properties forced downward adjustment. Reiterating Buy rating.