CHANGE IN RATINGSAutodesk ( ADSK) downgraded at Deutsche Bank. Rating lowered to Hold from Buy. Lowers price target to $24 from $25. Maintains fiscal 2010 EPS estimates of $0.54. Boeing ( BA) downgraded at Barclays from Overweight to Equal-weight. $46 price target. High risk remains in timing of 787 deliveries. BE Aerospace ( BEAV) upgraded at Friedman, Billings Ramsey from Market Perform to Outperform. $22 price target. Company should outperform its peers when the sector rebounds.
T. Rowe Price ( TROW) estimates, target boosted at Barclays. TROW estimates increased through 2010. Company continues to attract steady inflows. Equal-weight rating and new $47 price target. T. Rowe Price ( TROW) upgraded at Friedman, Billings Ramsey from Underperform to Market Perform. $42 price target. Fund performance has turned around, and the company has kept a tight lid on costs. UnitedHealth Group ( UNH) upgraded at Credit Suisse to Outperform from Neutral. Cites improving fundamentals and a better outlook as the co. is positioned best to capitalize on growth opportunities from the healthcare reform. Increased price target to $33 from $27.
STOCK COMMENTS / EPS CHANGESArch Capital Group ( ACGL) target raised at Credit Suisse to $75 from $73 due to BVPS and top line growth resulting from the AIG fallout. Maintained Outperform rating. Arch Coal ( ACI) estimates, target boosted at to Friedman, Billings Ramsey. ACI target raised to $23. Estimates also increased, to reflect cost controls. Outperform rating. Bucyrus ( BUCY) target raised at Goldman to $38 from $35. The firm expects tightening commodity fundamentals and declining ore grades to drive mining capex growth which supports growth in the industrial market. Valuation also looks compelling for the company due to its recent weakness in near term orders which could provide compelling entry points. Maintained Buy rating. Bucyrus ( BUCY) estimates, target boosted at Barclays. Shares of BUCY now seen reaching $38. Estimates also raised, to reflect a gradual recovery in some international markets. Overweight rating. Capital One ( COF) target raised at Friedman, Billings Ramsey. Shares of COF now seen reaching $27. Stock should trade up in-line with its peers. Market Perform rating.
Eastman Chemical ( EMN) numbers raised at Merrill/BofA to $52. Estimates also increased, to reflect higher operating margins. Neutral rating. Ingersoll-Rand ( IR) numbers raised at Goldman to $26 from $24. Downside concerns have been reduced due to its outperformance in cost cutting initiatives, Trane synergies, and productivity. Maintained Neutral rating. Ingersoll-Rand ( IR) numbers raised at Barclays to $30. Estimates also boosted, to reflect a sharp margin recovery. Equal-weight rating. Ingersoll-Rand ( IR) numbers raised at Morgan Stanley. Price target raised to $24 from $23. 2009 EPS estimates raised to $1.37 from $1.08. Ingersoll-Rand ( IR) numbers raised at UBS. Price target raised to $28 from $21. 2009 EPS estimates raised to $1.60 from $1.30. Maintains Neutral rating. Laboratory Corp. of America ( LH) target raised at Goldman to $70 from $64 based on improving volume trends and a return to historical pricing strategies. Maintained Neutral rating. LSI Corp ( LSI) numbers raised at Goldman to $5 from $4. Long term valuation looks attractive as the co. continues to increase its traction with new products which suggests a robust full-cycle profitability trend. Maintained Neutral rating. Northrop Grumman ( NOC) target lowered at Credit Suisse to $57 from $53 given the co.'s lower visibility and unpredictable earnings stream. Maintained Neutral rating. Sepracor ( SEPR) estimates, target raised at UBS. SEPR estimates increased through 2010. Company seeing higher product sales and costs are falling. Neutral rating and new $16.50 price target. Sappi ( SPP) target lowered at Credit Suisse to $2.50 from $3.10. Market estimates have noticeable downside risk reflecting rising future interest costs, a weaker than expected Q3, and a further than expected sequential weakening of results in Q4 due to falling prices and weakening demand. Maintained Underperform rating. Walter Energy ( WLT) numbers increased at Friedman, Billings Ramsey. Shares of WLT now seen reaching $59. Estimates also boosted, to reflect lower costs. Outperform rating.