Amedisys ( AMED) downgraded at Deutsche Bank from Buy to Hold. $53 price target. Company could face more debt writeoffs than its peers. Estimates also cut through 2010. AptarGroup ( ATR) upgraded at Merrill from Neutral to Buy. $36 price target. Company has strong secular growth prospects, even though 2009 will be a difficult year. Bemis ( BMS) upgraded at Merrill from Neutral to Buy. $27 price target. Company generates more than half of its sales from food producers, and delivers steady cash flow. Diana Shipping ( DSX) upgraded at J.P. Morgan to Overweight from Neutral based on balance sheet strength and limited capital commitments. Gymboree ( GYMB) upgraded at J.P. Morgan to Overweight from Neutral. Valuation implies an unlikely dire earnings scenario in 2009. Price target at $23. Coca-Cola FEMSA ( KOF) upgraded at Credit Suisse to Outperform from Neutral based on valuation and defensive growth profile. Maintained $50 target price.
Stock Comments/EPS Changes
Gap ( GPS) target cut at Credit Suisse to $10 from $17 based on further margin pressure and valuation. Maintained Neutral rating. SAP ( SAP) price target slashed at Goldman Sachs to $34 from $43 based on lower expectations for the normally robust fourth quarter. Maintained Neutral rating. Textron ( TXT) target lowered at Credit Suisse to $18 from $25 based on slower growth in business and general aviation sector. Maintained Neutral rating. United Technologies ( UTX) target cut at Credit Suisse to $51 from $63. Expects business and general aviation market to decline 8%-12% in FY 2009. Maintained Outperform rating.