Analyst Actions -- 9/23/2011

 | Sep 23, 2011 | 2:00 PM EDT  | Comments
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Stock quotes in this article:

adm

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p

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cbs

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rds.a

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via.b

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nke

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fdx

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dltr

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dgx

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hpq

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acn

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pep

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ua

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.

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