DR Horton ( DHI) downgraded at Credit Suisse to Underperform. $7.50 price target. Stock is trading at a premium valuation in a tough selling climate. Energizer ( ENR) upgraded at UBS from Sell to Neutral. Valuation call, as the stock is down 28% year-to-date. $40 price target. Genzyme ( GENZ) downgraded at Citigroup from Buy to Hold. $61 price target. No visibility on Lumizyme approval, following the new 6-month delay. Estimates also lowered. Noble ( NE) upgraded at Goldman Sachs to Buy from Neutral based on valuation. Shares are trading at 19% discount to peers based on EBITDA. Note that company is in strong position to make acquisitions during downcycle. Price target raised to $32 from $30. Waste Management ( WMI) downgraded at Goldman Sachs to Neutral from Buy based on risk to consensus estimates. Note that consensus is forecasting recovery in volume growth during the second half of 2009, but declines in commercial and industrial customers are likely to last throughout the year. Price target cut to $27 from $34.
STOCK COMMENTS / EPS CHANGES
Agco ( AG) target cut to $14 at UBS. Estimates also lowered, to reflect lower international demand for agriculture equipment. Sell rating. Altera ( ALTR) 2010 estimate increased to 96 cents a share at Merrill Lynch/Bank of America. Company is seeing strong 3G orders in China, and boosted guidance. Buy rating. FTI Consulting ( FCN) numbers raised at UBS through 2010. Company benefiting from higher bankruptcy business. Buy rating and new $64 price target. First Solar ( FSLR) 2009 estimate reduced at UBS because of expected acquisition dilution. Deal helps the company's long-term prospects. Buy rating and $155 price target. Frontier Oil ( FTO) target upped at Barclays to $13. Changing model for inventory valuation. Equal-weight rating. Sears ( SHLD) estimates lowered through 2011 at UBS. Retail business is losing market share in a difficult environment. Sell rating and new $30 price target.