Seagate Technology ( STX) downgraded at JP Morgan to Neutral from Overweight. Price target cut to $8.50 from $9.00. 2009 EPS estimates raised to -$0.62 from -$0.69. Western Digital ( WDC) upgraded at JP Morgan to neutral from underweight and price target increased to $19 from $12. JPM believes the worst-case scenario has been averted for now. Part of rating change is built on belief that HDDs have become more suitable trading vehicles going forward, versus HBA peers having less certain runways to long-term growth. More immediate, inputs from primary research contacts indicate upside potential to WD's unit trends. Waddell & Reed Financial ( WDR) downgraded at Credit Suisse to Neutral from Outperform based on valuation. Raised target price to $17 from $14.
Juniper Networks ( JNPR) estimates cut at UBS through 2010. Management can't cut costs fast enough to offset lower sales. Buy rating and $21 price target. King Pharma. ( KG) added to Conviction Buy list at Goldman Sachs. Stock is replacing CYH, with 3 products pending FDA approval. $10 price target. Micron ( MU) estimates increased at UBS through 2010. New capital could be put to use to offset dilution. Buy rating and $5 price target. MetroPCS ( PCS) numbers raised at Goldman. Shares now seen reaching $21. Estimates also increased, to reflect a higher subscriber count and ARPU improvement. Buy rating. Sprint Nextel ( S) target raised at Merrill/BofA to $4.75. Management is upbeat about the Pre launch and Boost Mobile. Neutral rating.