Analysts' Upgrades, Downgrades: Harley

CHANGE IN RATINGS

Bank of New York Mellon ( BK) upgraded at Bank of America to Buy from Neutral as their enlarged capital base is better able to manage loss content. Target price raised to $36 from $32. Cut 2009 EPS to $2.10 from $2.20 as dilution from capital increase, 2010 EPS lifted to $2.75 from $2.45.

Burger King ( BKC) downgraded at Bank of America to Neutral from Buy on fear that 4Q EPS will be disappointing due to negative same store sales. Target price lowered to $19 from $22. Lowered 2009 EPS to $1.34 from $1.36.

Canadian Natural Resources ( CNQ) target raised at Barclays to $60 from $54 as the company announced a successful start in early '09. Equal-weight rating.

Cognizant ( CTSH) initiated at Deutsche Bank. Initiated with a Buy rating and $32 price target. Introduces 2009 EPS estimates of $1.70.

Expeditors International ( EXPD) downgraded at Credit Suisse to Neutral from Outperform. The co. stated that its 2Q09 EPS is likely to come in below the street's consensus and future profit warnings are expected with the latest freight forecasts. Maintained target price of $31.

Gap ( GPS) rated new Hold at Keybanc. New management still in the early stages of changing merchandising and the store outlook.

L-3 Communications ( LLL) upgraded at JP Morgan. Rating raised to Overweight from Neutral. Price target raised to $80 from $74. Maintains 2009 EPS estimates at $7.30.

Masco ( MAS) downgraded at JPMorgan. Rating lowered to Underweight from Overweight. Price target lowered to $6.50 from $7.50. Maintains 2009 EPS estimates of -$0.35.

Mohawk Industries ( MHK) upgraded at JP Morgan. Rating raised to Neutral from Underweight. Maintains $27 price target and 2009 EPS estimates of $0.91.

Owens Corning ( OC) upgraded at JPMorgan. Rating raised to Overweight from Neutral. Price target raised to $15.00 from $13.50. Maintains 2009 EPS estimates of $0.78.

Prudential Financial ( PRU) upgraded at JP Morgan. Rating raised to Overweight from Neutral. Maintains $43 price target and 2009 EPS estimates of $4.98.

Sysco ( SYY) rated new Equal-weight at Morgan Stanley. Industry is facing significant headwinds, but the company has leading market share.

VMWare ( VMW) upgraded at Jefferies from Underperform to Hold. $25 price target. Expect in-line June quarter results and a moderate downward revision for the third quarter.

STOCK COMMENTS / EPS CHANGES

Anadarko Petroleum ( APC) price target raised at Barclays to $45 from $43. APC may top Q2 estimates based on strong volume momentum. Equal-weight rating.

Broadcom ( BRCM) target raised at Morgan Stanley to $31. Current quarter appears to be tracking at or above plan. Overweight rating.

Comstock Resources ( CRK) target price lowered to $40 from $43 and 2009 estimates raised at Barclays to -$1.00 from -$1.15. Overweight rating.

CSX ( CSX) estimates, target boosted at Merrill/BofA. Shares now seen reaching $40. Estimates also raised, to reflect cost controls. Buy rating.

eBay ( EBAY) estimates raised at Goldman to $1.50 from 1.45. Cites slightly faster international listings growth, valuation, and euro and sterling appreciation against the US dollar. Maintained neutral rating and price target of $18.

1-800-FLOWERS.COM ( FLWS) numbers lowered at Goldman to $1.80 from $2.70 based on valuation. The co.'s current year estimates were also lowered to $0.09 from $0.10. Maintained Sell rating.

Google ( GOOG) estimates cut, target raised at Oppenheimer. Shares now seen reaching $490. On the other hand, estimates were lowered to reflect lower sales expectations. Outperform rating.

Harley-Davidson ( HOG) 2010 estimates lowered at Goldman to $1.74 from $1.88. Lower production expectations and weakening demand for motorcycles led to the decrease in the co.'s future EPS. Maintained target price of $11 and Sell rating.

Novellus Systems ( NVLS) target increased at Morgan Stanley to $18.50. Company posted strong shipments, orders and revenue. Overweight rating.

Occidental Petroleum ( OXY) estimates, target lifted at Barclays to $68 from $60 based on attractive domestic production, limited US nat gas exposure, and potential huge projects in mid-east. 2009 EPS enlarged to $3.55 from $1.25. Overweight rating.

This article was written by a staff member of TheStreet.com.

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