Yum! Brands ( YUM) Upgraded at Goldmanto Buy from Neutral. Improving US business, better overall corporate margins, and increasing sentiment on the prospects for YRI profit growth led to the increase in ratings. Increased price target to $40 from $36.
Intel ( INTC) estimates raised at Morgan Stanley. Expectations of higher revenue and gross margins led to the increase in numbers. Maintained Overweight rating and price target of $19. KB Home ( KBH) estimates reduced at UBS through 2010. Housing market will likely continue to decline in the second half of the year. Neutral rating and $15 price target. Microsoft ( MSFT) price target raised at Morgan Stanley to $28 and reiterated its Overweight rating. The increase in numbers reflects better visibility on PC units, more comfort with cost controls and Win 7 ASPs, and that the co. will benefit from a significant corporate PC cycle in 2010. Myriad Genetics ( MYGN) numbers reduced at UBS through 2010. Company warned of lower molecular diagnostic sales. Buy rating and new $40 price target. Noble Corp. ( NE) estimates lowered at Barclays through 2010. Company is facing newbuild delays and lower dayrates. Overweight rating. OshKosh ( OSK) target raised at Goldman to $20 from $11 as cyclical recovery in the co.'s construction equipment business should emerge in the 2H2010-2011. Maintain Neutral rating. Priceline.com ( PCLN) estimates, target boosted at Merrill/BofA through 2010. Company continues to gain market share. Buy rating and new $135 price target. Schnitzer Steel ( SCHN) estimates cut at Morgan Stanley through 2010. Company is facing higher metal recycling costs. Equal-weight rating. Southern Company ( SO) estimates cut at Merrill/BofA through 2010. Company warned that Georgia Power will have lower earnings. Buy rating and $34 price target. Total System Services ( TSS) target lowered at Goldman to $11 from $12 due to the loss of its Bank of America merchant service business which accounted for a total of 4% revenue for the co. Maintained Sell rating. XenoPort ( XPNT) target raised at Goldman to $24 from $18. The raise was prompted by the NPV of the pipeline and net cash the co. currently has. Maintained Neutral rating. XenoPort ( XNPT) target raised at Credit Suisse to $25 from $22 based on the increasing probability of success in their NPV model. Maintained Neutral rating.