CHANGE IN RATINGSBoston Scientific ( BSX) upgraded at BMO to Outperform. $13 price target. New drug-eluting stents should boost margins. Company also gaining market share in ICD market. Peabody Energy ( BTU) downgraded at Citigroup from Buy to Hold. $34 price target. Company lacks earnings support, as unit costs in Australia remain high. Estimates also lowered. Costco ( COST) reinstated at Merrill/BofA with a Buy rating and $57 price target. Analysts mentioned strong traffic and membership renewal. 2009 and 2010 EPS estimates set at $2.45 and $2.70.
Starbucks ( SBUX) upgraded at Deutsche Bank. Rating raised to Hold from Sell. Price target raised to $14 from $9. 2009 EPS raised to $0.75 from $0.65. Starbucks ( SBUX) price target, estimates raised at Barclays. Price target to $15 from $11 as cost savings and comp stability fuel 3QF09 upside. 2009 and 2010 EPS estimates lifted to $0.75 from $0.73 and to $0.88 from $0.86, respectively. Reiterate Equal Weight rating. Sybase ( SY) upgraded at Jefferies from Hold to Buy. $41 price target. Guidance has been taken low enough, with iAnywhere and Messaging set to post higher growth.
STOCK COMMENTS / EPS CHANGESApple ( AAPL) price target, estimates lifted at Barclays. Price target to $188 from $173. Analysts highlighted AAPL's unique business model, which delivers industry-high margins over the short & long term. 2009 and 2010 EPS estimates increased to $5.77 from $5.50 and to $6.75 from $6.28, respectively. Maintain Overweight rating. Apple ( AAPL) target raised at Credit Suisse to $175 from $165. After reporting their strongest quarter that was not part of a holiday season, management provided guidance that it can likely beat. The company's strength stemmed from Macs, iPhones, and gross margins which beat all their expectations. The firm believes that with a full quarter of iPhone revenue the co. will provide a strong Q4. Maintained Outperform rating. Apple ( AAPL) estimates, target raised at Morgan Stanley. Shares now seen reaching $195. Estimates also boosted, as Mac has resumed market share gains. Overweight rating. Archer Daniels ( ADM) numbers boosted at Morgan Stanley to $29. Estimates also raised, to reflect a better soybean processing environment. Equal-weight rating.
Advanced Micro ( AMD) estimates raised at Friedman, Billings Ramsey through 2010. Company seeing smaller losses in its GlobalFoundries joint venture. Outperform rating and $5.25 price target. Amylin Pharma ( AMLN) estimates cut at Morgan Stanley through 2011. Expect increased competition in the diabetes space. Equal-weight rating. TD Ameritrade ( AMTD) target raised, estimate lowered at Barclays to $22 from $21 on small EPS beat and completion of SWIM acquisition. 2009 EPS estimates dropped to $0.17 from $0.24. Maintain Overweight rating. American Movil ( AMX) numbers raised at Credit Suisse to $48.50 from $47. High postpaid net adds, increasing data revenue, and better margins for 2Q09 suggests a brighter outlook as macro conditions improve. Maintained Outperform rating. Baidu ( BIDU) estimates boosted at Bernstein through 2010. Expect the company to post higher earnings on Thursday and for the Chinese economy to recover in late 2009 and into 2010. Outperform rating and $310 price target. Caterpillar ( CAT) price target, estimates raised at Barclays. Price target to $36 from $30 after solid 2Q results. 2009 and 2010 EPS estimates increased to $1.45 from $1.10 and to $1.60 from $1.25, respectively. Maintain Equal Weight rating. Cisco ( CSCO) target raised at Oppenheimer to $25 a share. Channel checks have been positive for the July quarter. Outperform rating. Du Pont ( DD) price target, estimates raised at Barclays to $22 from $21. Tweaked 2009 EPS estimates to $1.60 from $1.45. Maintain Equal Weight rating. Ford ( F) price target, estimates inflated at Barclays. Price target to $4.50 from $2.00 as the company narrows its losses substantially in North America. 2009 and 2010 EPS estimates lifted to -$1.17 from -$1.80 and to $0.64 from $0.16. Maintain Underweight rating.
Gilead ( GILD) target lowered at Credit Suisse to $54 from $53 based on valuation and providing slightly lower than expected guidance in a range of $6.1-$6.2 B vs. $6.2-$6.3 B. Maintained Outperform rating. hhgregg ( HGG) target raised at Credit Suisse to $33 from $17 following the company's secondary offering and new growth plans. Maintained Outperform rating. Illumina ( ILMN) estimates increased at Morgan Stanley through 2011. Company is realizing higher gross margin. Overweight rating and $38 price target. Juniper Networks ( JNPR) target raised at Credit Suisse to $18 from $15. Cites valuation and that it is positioned as one of the two best communication equipment suppliers. Maintained Neutral rating. Legg Mason ( LM) target, estimates increased at Barclays. Price target to $26 from $24. Analysts said road to recovery is long but LM is headed in the right direction. 2009 and 2010 EPS estimates lifted to $1.26 from $1.07 and to $1.76 from $1.53, respectively. Maintain Equal Weight rating. Sprint ( S) estimates raised at Morgan Stanley through 2011. Company should benefit from Pre sales. Underweight rating and $1 price target. Seagate Technologies ( STX) estimates raised at Morgan Stanley through 2011. Company should benefit from strong PC demand. Equal-weight rating. UnitedHealth ( UNH) target, estimates raised at Barclays. Price target to $33 from $32 on solid 2Q09 results. 2009 and 2010 EPS estimates raised to $3.10 from $3.00 and to $3.25 from $3.20, respectively. Reiterate Overweight rating. UnitedHealth ( UNH) target raised at Credit Suisse to $27 from $25. Stronger than expected enrollment growth, stabilization, and the co.'s diversification strategy provides a more clear and comfortable outlook. Maintained Neutral rating. UnitedHealth ( UNH) 2009 estimates raised at Citigroup because of lower administrative costs. Buy rating and $32 price target. United Technologies ( UTX) target raised at Jefferies to $62. Company should continue generating above-average returns, despite the lower macro outlook. Buy rating. United Technologies ( UTX) price target, estimates raised at Merrill/BofA. Price target to $63 from $53 as management continues to generate cost savings and growth opportunities. 2009 and 2010 EPS estimate set at $4.10 and $4.30, respectively. Maintain Buy rating. VF Corp. ( VFC) target raised at Credit Suisse to $70 from $60. After reporting strong earnings, management stated that they are seeing signs that international business is stabilizing and the recession could be in its last leg. The co. also achieved solid margins and provided a very confident tone to reassure investors about their outlook ahead. Maintained Outperform rating.