Pioneer Natural Resources ( PXD) upgraded at FBR from Market Perform to Outperform. $85 price target. Estimates also boosted, given higher expected production growth. RRI Energy ( RRI) upgraded at BofA/Merrill to Buy from Neutral. Valuation call. $15 price target.
STOCK COMMENTS / EPS CHANGES
Adtran ( ADTN) target boosted at Stifel to $37. Checks show continued business momentum. Buy rating. AutoZone ( AZO) price target lifted at BofA/Merrill to $240 from $225 as company fundamentals remain strong. Reiterate Buy rating. BP ( BP) estimates, target raised at Benchmark. Shares of BP now seen reaching $46. Estimates also increased, given higher expected oil prices. Buy rating. Biovail Corp ( BVF) price target higher at BofA/Merrill. BVF price target increased to $32 from $27 to reflect the recent merger. Maintain Buy rating. Cooper Companies ( COO) numbers raised at Citigroup. Shares of COO now seen reaching $43. Estimates also increased, to match the company's new guidance. Hold rating. Lincoln Electric ( LECO) estimates upped at Keybanc through 2012. Company is seeing demand recover across the globe. Hold rating. Schlumberger ( SLB) price target cut at Credit Suisse to $78 from $80 reflecting SII merger. Maintain Outperform rating. AT&T ( T) estimates reduced at UBS through 2011. Strong iPhone sales will hurt wireless margins. Buy rating and $31 price target.