Analyst Actions -- 9/30/2011

 | Sep 30, 2011 | 9:24 AM EDT  | Comments
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Stock quotes in this article:

mos

,

mu

,

dva

,

wfr

,

altr

,

dow

,

crm

,

emc

,

mro

Altera downgraded at Auriga

ALTR was downgraded from Buy to Hold, Auriga said.  $37 price target.  Inventory correction and weaker orders have continued after the mid quarter guidance. 

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A.O. Smith estimates, target cut at Jefferies

AOS estimates were reduced through 2012, Jefferies said. Industry growth could remain sluggish in the coming quarters. Buy rating and new $47 price target.

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Constellation Brands numbers cut at Goldman

STZ estimates were lowered through 2014, Goldman Sachs said. Company is paying higher interest expenses and buying back less stock. Neutral rating and new $21 price target.

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DaVita downgraded at Citigroup

DVA downgraded from Buy to Hold, Citigroup said.  $77 price target.  Valuation call along with recent legal developments. 

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Dow Chemical rated new Hold at Jefferies

DOW was initiated with a Hold rating, Jefferies said.  $27 price target.  Ethylene peak still ahead, but better entry point within six months.

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Edison upgraded at Wunderlich

EIX was upgraded from Hold to Buy, Wunderlich said. $43 price target. Company can generate solid growth and the market is giving little value to the unregulated operations.

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EMC estimates lowered at Sterne Agee

EMC estimates were cut through 2012, Sterne Agee said. Channel checks show lower demand, especially from financial customers. Buy rating and $30 price target.

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Flowserve estimates, target lowered at Jefferies

Shares of FLS now seen reaching $137, according to Jefferies. Estimates also cut, as the current industrial cycle could be pushed out. Buy rating.

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Global Payments upgraded at Jefferies

GPN was upgraded from Hold to Buy, Jefferies said.  $50 price target.  Potential benefit from Durbin regulations and robust payment volume metrics.

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Global Payments rated new Buy at Stifel

GPN was initiated with a Buy rating, Stifel Nicolaus said. $50 price target. Company is adding to its scale and has potential operating leverage.

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Harsco estimates, target reduced at Jefferies

Shares of HSC now seen reaching $22, according to Jefferies. Estimates also cut, given slower expected industrial growth. Hold rating.

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Itron downgraded at BofA Merrill

ITRI was downgraded from Buy to Underperform, Bank of America Merrill Lynch said.  $36 price target.  Expect further negative earnings revisions and a lack of positive near term catalysts.

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Marathon Oil upgraded at Benchmark

MRO was upgraded from Sell to Hold, Benchmark said. Valuation call, based on a $23 price target.

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MEMC Electronic Materials rated new Neutral at Piper Jaffray

WFR was initiated with a Neutral rating, Piper Jaffray said.  $7 price target.  Upbeat about top line growth, but remain cautious about transformation risk. 

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Micron Technology numbers reduced at Morgan Stanley

Shares of MU now seen reaching $11, according to Morgan Stanley. Estimates also cut, given the sharp decline in DRAM pricing. Overweight rating.

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Micron Technology estimates cut at UBS

MU estimates lowered through 2013 on lower gross margin and higher OpEx and interest.  Maintain $14 price target and Buy rating.

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Mosaic estimates, target lowered at Citigroup

Shares of MOS now seen reaching $82, according to Citigroup.  Estimates also lowered on a slower restart of the Faustina plant and lower than expected phosphate guidance.  Maintain Buy rating.

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NetApp estimates cut at Sterne Agee

NTAP estimates were reduced through 2013, Sterne Agee said. Channel checks show slower domestic growth. Neutral rating.

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Salesforce.com estimates lowered at Piper

CRM estimates were cut through 2013, Piper Jaffray said. Assistly purchase will reduce earnings. Overweight rating and $183 price target.

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Valspar rated new Hold at KeyBanc

VAL was initiated with a Hold rating, KeyBanc said.  Remain cautious due to company's exposure to global industrial coatings.

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