Lazard ( LAZ) upgraded at Goldman Sachs: Goldman is upgrading LAZ to Buy from Neutral, based on valuation and position to capitalize on robust global M&A trends. Main catalyst is company converting large backlog into revenues over next 12 months. Price target at $58. NCR ( NCR) upgraded at Baird: NCR was upgraded from Neutral to Outperform at Robert Baird. $52 price target. Teradata spin-off creates a compelling value opportunity. Sprint Nextel ( S) downgraded at Credit Suisse: Credit Suisse is downgrading S to Neutral from Outperform following pre-announcement of lower subscriber growth. Sees continued pressure in 2007. Lowered target price to $20 from $23. Sprint Nextel downgraded at CIBC: Rating on S was lowered from Outperform to Sector Perform at CIBC. Company will have to spend even more to improve its marketing and network quality. Stock also trades at a premium to T. Sprint Nextel downgraded at Deutsche: Rating on S was cut from Hold to Sell at Deutsche Bank. $14 price target. Estimates also cut, to reflect the company's new disappointing 2007 outlook. $14 price target. Sprint Nextel price target lowered at Goldman: Target on S decreased to $20 from $22 at Goldman. Company announced inline Q4 metrics but provided disappointing 2007 guidance. See weak 2007 margins driven by dilution from mix shift and incremental investments. Valuation remains attractive. Maintained Buy rating.
Tidewater ( TDW) upgraded at UBS: TDW upgraded to Neutral rating from Reduce at UBS. However, price target is lowered to $52 from $56. Maintains 2007 EPS estimates at $5.56. Tween Brands ( TWB) downgraded at Friedman, Billings: TWB was downgraded to Market Perform at Friedman, Billings Ramsey. Company warned of lower sales and earnings this quarter. Stock also removed from the Top Picks list. $41 price target. Wet Seal ( WTSLA) rated new Outperform at Credit Suisse: Credit Suisse is initiating WTSLA with an Outperform rating. Cites new management team and repositioned retail concepts provides attractive opportunity. Sets $9 target price.