IPSCO ( IPS) upgraded at UBS: UBS is upgrading IPS to Buy from Neutral based on increasing exposure to energy tubulars after acquiring NS Group. Raised target price to $105 from $104. Lone Star Tech upgraded at Bear: LSS was upgraded from Peer Perform to Outperform at Bear Stearns. Recent takeovers in the industry suggest the company is undervalued. LSS also recently made a smart investment in a Chinese plant. $60 price target. Plum Creek Timber ( PCL) downgraded at Morgan Stanley: PCL was downgraded from Equal-weight to Underweight, at Morgan Stanley. $32 price target. Now expect a sharp pullback in residential construction, which will cut the value of timber. WellCare Health ( WCG) coverage initiated at Jefferies: WCG coverage initiated with a Hold rating at Jefferies. Unique strategy as diversified government-focused health plan allows flexibility. See 30% growth rate attainable. Price target at $63.
Gannett ( GS) estimates lowered at Goldman Sachs: Goldman is lowering its 2006 estimate on GCI by 4 cents to $4.96, based on weak August revenues in newspaper ad sales, particularly for help wanted section. Price target cut to $60 from $63 and maintained Neutral rating. Gold Fields ( GFI) target raised at Goldman Sachs: Goldman is raising its price target on GFI to $20 from $19 after company announced deepening of two South African mines, to access additional 10.8 million ounces of gold. Maintain Neutral rating. Qualcomm ( QCOM) added to Focus List at Cowen: QCOM was added to the Focus List at Cowen. Channel checks show that the U.S. business is improving. The supply of CDMA chips is also tightening. Outperform rating. Cimarex ( XEC) target price raised at UBS: UBS is raising its target price on XEC to $48 from $45.50 based on valuation. Maintained Buy rating.