Analyst Actions -- 10/12/2011

 | Oct 12, 2011 | 8:12 AM EDT  | Comments
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Acuity Brands rated new Hold at Jefferies

Coverage of AYI was started with a Hold rating, Jefferies said. $38 price target. Company has limited visibility for domestic construction demand.

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Advanced Micro numbers cut at Sterne Agee

Shares of AMD now seen reaching $13, according to Sterne Agee. Estimates also reduced, given slower notebook demand. Buy rating.

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Agco Corporation rated new Neutral at Citigroup

AGCO was initiated with a Neutral rating, Citigroup said.  $43 price target.  Beaten up stock, but elevated risk profile.    

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Alcoa estimates cut at Citigroup

AA estimates lowered through 2012, Citigroup said.  European and truck-trailer slowdown.  Maintain $10 price target and Neutral rating.

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Alcoa estimates, target reduced at Jefferies

Shares of AA now seen reaching $14, according to Jefferies. Estimates also cut, given lower realized aluminum prices. Buy rating.

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Alcoa estimates cut at UBS

AA estimates lowered through 2012, UBS said.  EPS miss on pricing, costs and EU weakness.  Maintain $13 price target and Neutral rating.

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Baxter International estimates lowered at UBS

BAX estimates cut through 2012, UBS said.  FX headwinds have increased.  Maintain $67 price target and Buy rating.

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Blackrock estimates, target lowered at Jefferies

Shares of BLK now seen reaching $167, according to Jefferies. Estimates also cut, given reduced asset levels. Hold rating.

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Brocade downgraded at JP Morgan

BRCD was downgraded from Neutral to Underweight, JP Morgan said.  Company faces muted long term growth prospects.

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CBOE estimates, target raised at Oppenheimer

Shares of CBOE now seen reaching $29, according to Oppenheimer. Estimates also increased, given higher realized trading volume. Outperform rating.

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Chevron estimates increased at UBS

CVX estimates raised through 2012, UBS said.  Favorable FX benefit.  Maintain $127 price target and Buy rating.

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CH Robinson downgraded at Deutsche

CHRW was downgraded from Buy to Hold, Deutsche Bank said. Valuation call.

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Cullen/Frost downgraded at Sterne Agee

CFR was downgraded from Neutral to Underperform, Sterne Agee said. $46.50 price target. Estimates also lowered, given a shrinking net interest margin.  

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DIRECTV estimates lowered at UBS

DTV estimates trimmed through 2012, UBS said.  U.S. remains strong, but real tailwind coming to an end.  Maintain $55 price target and Buy rating. 

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Dreamworks estimates, target cut at Morgan Stanley

Shares of DWA now seen reaching $19, according to Morgan Stanley. Estimates also reduced, as the company is facing increased competition. Underweight rating.

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First Solar downgraded at Ticonderoga

FSLR was downgraded from Neutral to Sell, Ticonderoga Securities said. $40 price target. Pricing and volumes continue to decline.

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Flir Systems downgraded at JP Morgan

FLIR was downgraded from Neutral to Underweight, JP Morgan said. Valuation call, based on a $27.50 price target.

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Franklin Resources numbers cut at Jefferies

Ben estimates were reduced through 2012, Jefferies said. Industry fund flows remain challenging. Hold rating and new $110 price target.

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Healthspring upgraded at Oppenheimer

HS was upgraded from Perform to Outperform, Oppenheimer said. $45 price target. Estimates also boosted, given higher growth expectations for Medicare Advantage.

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Humana upgraded at Oppenheimer

HUM was upgraded from Perform to Outperform, Oppenheimer said. Estimates also boosted, as Medicare Advantage should drive growth. $87 price target.

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IAC/InterActiveCorp upgraded at Goldman

IACI was upgraded from Neutral to Buy, Goldman Sachs said. Match.com segment should continue to drive growth.

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Intel estimates, target reduced at Sterne Agee

Shares of INTC now seen reaching $26, according to Sterne Agee. Estimates also cut, given lower expected notebook demand. Buy rating.

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Kansas City Southern estimates, target raised at Citigroup

Shares of KSU now seen reaching $65, according to Citigroup.  Estimates also increased on coal contract and Bakken opportunity.  Buy rating.

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Lexmark downgraded at JP Morgan

LXK was downgraded from Neutral to Underweight, JP Morgan said. $25 price target. Printing sector could be hit hard in a macro downturn.

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MetLife estimates, target reduced at Morgan Stanley

MET estimates were cut through 2012, Morgan Stanley said. Industry will be hurt by lower interest rates and declining stock prices. Overweight rating.

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Motorola Solutions numbers cut at Credit Suisse

MSI estimates were reduced through 2012, Credit Suisse said. Enterprise demand could be hurt by slower macro growth. Neutral rating and new $49 price target.

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Netflix estimates, target lowered at Oppenheimer

Shares of NFLX now seen reaching $185, according to Oppenheimer. Estimates also cut, given reduced subscriber models. Outperform rating.

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Norfolk Southern downgraded at Deutsche

NSC was downgraded from Buy to Hold, Deutsche Bank said. Valuation call.

Owens Corning estimates, target lowered at Citigroup

Shares of OC now seen reaching $38, according to Citigroup.  Estimates also cut on lower assumed revenue growth in Composites.  Buy rating.

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Priceline.com rated new Buy at Jefferies

PCLN was initiated with a Buy rating, Jefferies said. $580 price target. Company has solid growth momentum and can continue to expand overseas.

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QLogic downgraded at JP Morgan

QLGC was downgraded from Neutral to Underweight, JP Morgan said.  $12.50 price target.  Company faces muted long term growth prospects in its legacy Fibre Channel business.

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Rackspace downgraded at Benchmark

RAX was downgraded from Buy to Hold, Benchmark said. $42 price target. Company is facing increased price competition.

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Riverbed estimates, target reduced at Sterne Agee

Shares of RVBD now seen reaching $30, according to Sterne Agee. Estimates also cut, following channel checks. Buy rating.

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RPM International estimates cut at Keybanc

RPM estimates were reduced through 2013, Keybanc said. Macro headwinds could continue to weigh on growth. Buy rating and $24 price target.

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Seagate Technology downgraded at JP Morgan

STX was downgraded from Overweight to Neutral, JP Morgan said. $14 price target. Earnings could fall 28% year-over-year.

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Waddell & Reed downgraded at Jefferies

WDR was downgraded from Buy to Hold, Jefferies said. $27.50 price target. Poor performance of the Asset Strategy fund could hang over the stock.

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WebMD Health downgraded at Goldman

WBMD was downgraded from Buy to Neutral, Goldman Sachs said. Company has high advertising exposure.

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Xerox estimates, target lowered at Credit Suisse

Shares of XRX now seen reaching $10, according to Credit Suisse. Estimates also lowered, as the weaker macro environment could weigh on demand. Neutral rating.

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Xerox downgraded at JP Morgan

XRX was downgraded from Neutral to Underweight, JP Morgan said.  $7 price target.  Printing likely to suffer most in looming macro downdraft. 

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