E.W. Scripps ( SSP) downgraded at Goldman Sachs: Goldman is downgrading SSP to Neutral from Buy to reflect reduced near-term visibility and lower confidence that the company will take steps to reduce its exposure to the troubled newspaper industry. 2007 estimates cut to $2.41 from $2.53. Tekelec ( TKLC) downgraded at UBS: TKLC downgraded to Hold rating from Buy at Jefferies. Price target drops to $16.75 from $17.50 with expected 2007 EPS at $0.55.
Illinois Tool Works ( ITW) numbers raised at UBS: ITW numbers raised at UBS. Price target lifts to $52 from $49. 2007 EPS estimates raised to $3.30 from $3.25. Reiterates Neutral rating. Kinetic Concepts ( KCI) numbers raised at Jefferies: KCI numbers raised at Jefferies. Price target jumps to $51 from $39. 2007 EPS estimates upped to $3.27 from $2.90. Reiterates Hold rating. Lexmark ( LXK) numbers lowered at UBS: LXK numbers lowered at UBS. Price target drops to $67 from $76. 2007 EPS estimates fall to $3.90 from $3.85. Reiterates Neutral rating. 3M ( MMM) price target slashed at Goldman: Goldman is cutting its target on MMM following Q4 earnings miss. Largest shortfall was in display and graphics group which includes LCD film business. Reduced 2007 estimates to $4.60 from $4.90 due to operating factors and increased dilution expectations from sale of pharma group. Maintained Neutral rating. 3M numbers lowered at UBS: MMM numbers lowered at UBS. Price target drops to $90 from $100. 2007 EPS estimates fall to $4.80 from $5.20. Reiterates Buy rating. Paccar ( PCAR) numbers raised at UBS: PCAR numbers raised at UBS. Price target lifts to $62 from $58. 2007 EPS estimates raised to $4.20 from $4.00. Reiterates Reduce rating. SanDisk ( SNDK) estimates lowered at Goldman: 2007 estimates on SNDK cut to $1.80 from $2.15 at Goldman. Company reported solid Q4, but gave Q1 sales guidance below expectations. Estimates also negatively affected by integration of lower margin M Systems business. Maintained Neutral rating and $46 target. Websense ( WBSN) estimates cut at Credit Suisse: Credit Suisse is lowering its 2007 EPS estimates on WBSN to 57 cents from 69 cents after Q4 gross billing and revenues fell short of estimates. Lowered target price to $26 from $29. Wyeth ( WYE) estimates cut at Prudential: Prudential is cutting its 2007 estimates on WYE by 6 cents to $3.44 a share following disappointing Q4 earnings. Maintained Neutral Weight rating. U.S. Steel ( X) price target raised at Goldman: Goldman is upping its target on X to $113 from $104 due to benefits of lower pension costs. See improvement in steel demand and pricing by Q2 of this year. Maintained Buy rating.