McDermott ( MDR) 2009 estimate cut because pension expenses and the power segment, at Barclays Capital. Overweight rating and new $16 price target. NII Holdings ( NIHD) upgraded at Goldman to Buy from Neutral. Note attractive entry point after shares fell 36% since Q4 earnings announcement on currency concerns. See attractive valuation and defensive characteristics of telco business. Palm ( PALM) upgraded at Piper Jaffray to Buy from Neutral following negative preannouncement of Q3 results. Despite negative results, believe Pre will drive longer term profitability. Note growing carrier interest ahead of Pre launch. Price target raised to $10 from $4. Palm ( PALM) price target lowered at Goldman after the company preannounced Q3 sales far below the existing consensus due to weak sales of legacy portfolio. Maintained Neutral rating. Pepco ( POM) downgraded at Barclays from Overweight to Equal-weight. $15 price target. Estimates also cut, to reflect the possible sale of the retail business. Pepco ( POM) downgraded at Wachovia from Outperform to Market Perform. Estimates also cut, as the company's competitive businesses will be hurt by the economy.
AT&T ( T) added to J.P. Morgan Analyst Focus List based on strong expected performance in wireline business. Also note that wireless margins are likely to rebound, while ARPU results could outperform industry. Price target at $28. Time Warner ( TWX) 2009 estimate cut at Barclays on lower DVD sales and the advertising business. Equal-weight rating and new $9 price target. Xilinx ( XLNX) estimates increased through 2010 at UBS. Company seeing higher sales to China, and operating expenses are trending lower. Buy rating and $21 price target.