Morgan Stanley downgrades Advanced Micro ( AMD) from equalweight to underweight after the company lowered guidance last night. Intuit ( INTU) upgraded to Buy from Neutral. Price target jumps to $35 from $27. Maintains 2007 EPS estimates at $1.23. Prudential said it is cutting its 2007 estimates on SAP ( SAP) by 3 cents to $2.18 a share following fourth-quarter license miss. Goldman said it is downgrading SAP to Neutral from Buy after company preannounced Q4 license revenues below expectations. Goldman sees the U.S. business growing more slowly, making premium valuation less justified. Price target lowered to $50 from $62.
STOCK COMMENTS/EPS CHANGES
Prudential said it is cutting its 2006 estimates on AMD by 12 cents to 94 cents a share due to negative ASP surprise. Target cut to $17. 2006 estimates on AMD trimmed by Goldman to $0.89 from $1.05 following negative preannouncement. Operating income expected to be positive but down significantly vs. Q3. Margins hurt by lower CPU ASPs. Maintained Sell rating and $16 target. Infosys ( INFY) numbers raised at Jefferies. Price target jumps to $67 from $57. 2007 EPS estimates upped to $1.45 from $1.43. Reiterates Buy rating. Goldman said it is upping its 2007 estimates by 4 cents to $1.44 following strong December quarter results. Crisp execution tempered by valuation of shares. Maintained Neutral rating.