Accenture estimates lowered at Goldman
ACN estimates were cut through 2013, Goldman Sachs said. Currency changes will likely weigh on earnings. Buy rating and $60 price target.
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American Capital rated new Buy at UBS
AGNC was initiated with a Buy rating, UBS said. $29 price target. Attractive mid to high teens ROE in a low growth environment. Buy rating.
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Annaly Capital rated new Neutral at UBS
NLY was initiated with a Neutral rating, UBS said. $17 price target. Outsized exposure to 30 yr fixed mortgage rates raises prepayment risk.
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Archer-Daniels-Midland rated new Neutral at Goldman
Coverage of ADM was started with a Neutral rating, Goldman Sachs said. $30 price target. Company is facing a sharp earnings decline in 2012.
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Carmax estimates, target lowered at Credit Suisse
Shares of KMX now seen reaching $36, according to Credit Suisse. Estimates also cut, given recent pricing pressure. Outperform rating.
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Cavium Networks target lowered at Morgan Stanley
Shares of CAVM now seen reaching $48, according to Morgan Stanley. Cisco's hub transition appears to be happening sooner than expected. Overweight rating.
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Cavium Networks downgraded at Deutsche Bank
CAVM was downgraded from Buy to Hold, Deutsche Bank said. $30 price target. Concerned about near term demand trends and inventory draw downs.
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Cavium Networks estimates, target lowered at UBS
Shares of CAVM now seen reaching $37, according to UBS. Estimates also lowered as macro and company issues weigh on 3Q. Buy rating.
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CBS target lowered at Kaufman
Shares of CBS now seen reaching $27, according to Kaufman Bros. Syndication revenue could be delayed. Buy rating.
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Cepheid upgraded at Goldman
CPHD was upgraded to Buy, Goldman Sachs said. New products should continue to drive near-term growth.
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Discover Financial Services estimates raised at Evercore
DFS estimates increased through 2012, Evercore said. While beat was mainly driven by improved credit, top line drivers also looked good. Maintain $27 price target and Equal-Weight rating.
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Discover Financial Services estimates raised at Sterne Agee
DFS estimates increased through 2013, Sterne Agee said. Expecting only a modest decline in NCOs and will likely see some up tick in NCOs in September or October. Maintain $30 price target and Buy rating.
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Dollar Tree target boosted at Credit Suisse
Shares of DLTR now seen reaching $65, according to Credit Suisse. Company can leverage growth based on its recent investments. Neutral rating.
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Dollar Tree estimates, target increased at Jefferies
Shares of DLTR now seen reaching $86, according to Jefferies. Estimates also raised on strong relative top line growth and its defensive profile. Buy rating.
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Edison International rated new Outperform at FBR
EIX was initiated with an Outperform rating, FBR Capital Market said. $41 price target. Company has an attractive regulated utility operation.
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FedEx estimates, target lowered at Citigroup
Shares of FDX now seen reaching $87, according to Citigroup. Estimates also lowered as company lowered its F2012 EPS guidance. Buy rating.
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FedEx target lowered at Credit Suisse
FDX target was cut to $89, Credit Suisse said. Company will likely continue to face macro headwinds. Neutral rating.
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FedEx estimates raised at Deutsche Bank
FDX estimates increased through 2013, Deutsche Bank said. See compelling value and long term growth potential. Maintain $117 price target and Buy rating.
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First Solar estimates, target cut at Citigroup
Shares of FSLR now seen reaching $90, according to Citigroup. Estimates also lowered on new merchant pricing reality and lower sales price for Topaz. Hold rating.
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First Solar estimates, target cut at UBS
Shares of FSLR now seen reaching $120, according to UBS. Estimates also lowered on near term oversupply and lower sales price for Topaz. Buy rating.
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Freeport McMoRan estimates, target lowered at Jefferies
Shares of FCX now seen reaching $55, according to Jefferies. Estimates also lowered on recent 30 day strike. Buy rating.
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Gartner rated new Neutral at Credit Suisse
Coverage of IT was started with a Neutral rating, Credit Suisse said. $38 price target. Company is a market leader but is leveraged to a slower macro growth environment.
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Hewlett-Packard numbers cut at Goldman
HPQ estimates were reduced through 2013, Goldman Sachs said. Despite the CEO change, the company remains leveraged to slower macro growth. Neutral rating and new $24 price target.
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International Rectifier numbers reduced at FBR
Shares of IRF now seen reaching $29, according to FBR Capital Markets. Estimates also cut, as industrial customers appear to be working down inventory. Outperform rating.
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Jabil Circuit estimates, target lowered at Deutsche Bank
Shares of JBL now seen reaching $19, according to Deutsche Bank. Estimates also lowered on a slower growth environment. Hold rating.
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Myriad Genetics upgraded at Goldman
MYGN was upgraded from Sell to Neutral, Goldman Sachs said. Management's capital deployment has become more progressive.
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Nielsen downgraded at Needham
NLSN was downgraded from Buy to Hold, Needham said. Company has a highly leveraged balance sheet and could be hurt by the European turmoil.
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Nike estimates increased at Credit Suisse
NKE estimates were raised through 2014, Credit Suisse said. Company continues to generate solid sales growth. Neutral rating and $91 price target.
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Nike estimates, target raised at UBS
Shares of NKE now seen reaching $106, according to UBS. Estimates also increased on high quality EPS beat. Maintain Buy rating.
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OpenText upgraded at Benchmark
OTEX was upgraded from Sell to Hold, Benchmark said. Valuation call, following the recent selloff.
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Pandora Media upgraded at Morgan Stanley
Rating on P was boosted from Equal-weight to Overweight, Morgan Stanley said. $16 price target. Risk/reward appears more attractive at current levels.
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Pepsico downgraded at Stifel
PEP was downgraded from Buy to Hold, Stifel Nicolaus said. Valuation call, as market sentiment has deteriorated in recent months.
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PPG Industries rated new Neutral at UBS
PPG was initiated with a Neutral rating, UBS said. $72 price target. An industrial powerhouse at a fair price.
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Quest Diagnostics downgraded at Goldman
DGX was downgraded to Sell, Goldman Sachs said. Valuation call, as volumes should remain sluggish.
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Royal Dutch Shell upgraded at Benchmark
RDS.A was upgraded from Sell to Hold, Benchmark said. Valuation call, given the company's solid asset base.
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Under Armour rated new Buy at Argus
UA was initiated with a Buy rating, Argus Research said. $90 price target. Earnings should grow 22% annually over the next five years.
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Viacom estimates cut at Credit Suisse
VIA.B estimates were reduced through 2012, Credit Suisse said. Company now sees lower expected domestic advertising growth. Neutral rating and $41.25 price target.
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Viacom estimates lowered at UBS
VIA estimates lowered through 2012, UBS said. Company lowered guidance on ratings issues. Maintain $56 price target and Buy rating.
