J.P. Morgan ( JPM - Get Report) upgraded to Outperform at Keefe, Bruyette & Woods. $30 price target. Valuation call, as earnings could outperform its peers in the coming quarters. Kohl's ( KSS - Get Report) upgraded at Goldman Sachs to Neutral from Sell sue to passing of negative catalysts. Consensus estimates for 2009 have declined significantly, and valuation appears less stretched. Price target unchanged at $32. Steel Dynamics ( STLD) upgraded at Morgan Stanley to Overweight. $15 price target. Company is a low-cost producer, and trades at a 40% discount to NUE. State Street ( STT - Get Report) downgraded at Goldman Sachs to Neutral from Buy based on further potential for securities write-downs. Note that company has not been aggressive in recognizing securities losses. Expect earnings to suffer by about $1 per year in both 2009 and 2010. Price target at $25. Tyco ( TYC) upgraded at Citigroup from Hold to Buy. $25 price target. Valuation call, as organic growth remains resilient.
Interpublic ( IPG) estimates upped at UBS through 2010. Company has turned business around, despite macro trends. Management looking to cut costs in the new year. Neutral rating and $4.25 price target.
Mirant ( MIR) estimates, target reduced at Barclays to $14. Estimates also cut, to reflect weak commodity prices. Equal-weight rating. SBA Communications ( SBAC) numbers raised at RBC Capital. Shares now seen reaching $25. Estimates also increased, to reflect more site acquisitions and higher leasing activity. Outperform rating. Southwestern Energy ( SWN) 2009 numbers upped at Barclays because of lower costs. Overweight rating and new $42 price target. Wellpoint ( WLP) estimates raised at UBS through 2010. Company held an upbeat investor day, and is cutting costs to meet it earnings guidance. Buy rating and $53 price target. Weight Watchers ( WTW) numbers lowered at UBS to $19. Estimates also cut, to reflect weaker consumer spending and currency headwinds. Neutral rating.