Dr. Pepper Snapple ( DPS) numbers cut at Morgan Stanley. Shares now seen reaching $29. Estimates also lowered ahead of earnings. Equal-weight rating. Embraer ( ERJ) target cut at Credit Suisse to $26 from $30 based on tougher than expected outlook outlined by management. Maintained Neutral rating. Altria ( MO) numbers cut at Morgan Stanley. Equal-weight rating and new $22 price target. Sprint ( S) price target cut at Goldman to $5 from $5.50 following lower than expected Q3 results. Note that company has had to constrain capital expenditures to protect cash flow as margins have declined. Maintained Neutral rating. Tim Hortons ( THI) price target reduced at Goldman to $23 from $26 to reflect weaker fundamentals and strong U.S. dollar currency moves. Believe premium valuation will continue to deteriorate as guest counts remain in decline. Maintained Sell rating. URS ( URS) estimates raised, target cut at Morgan Stanley. Shares of URS now seen reaching $55. Estimates raised however. Overweight rating.
Strategy Calls/Market Calls
First Solar ( FSLR), Energy Conversion ( ENER), SunPower ( SPWRA) and Canadian Solar ( CSIQ) downgraded from Buy to Hold, Deutsche Bank said. Companies face several risks, and earnings expectations have likely yet to bottom.