Upgrades & Downgrades

Format: 2015-09-02
Format: 20:04

Change in Ratings

Adtran downgraded at Citigroup
Dec 05, 2012 | 7:50 AM EST

ADTN was downgraded to Sell from Neutral, Citigroup said. $12.50 price target. Challenges in its mainstay wireline access franchise. 

Bob Evans downgraded at Keybanc
Dec 05, 2012 | 7:53 AM EST

BOBE was downgraded from Buy to Hold, Keybanc said. $45 price target. Management is taking multiple steps to improve shareholder value. 

Bullish
Cummins rated new Outperform at Baird
Dec 05, 2012 | 6:59 AM EST

CMI was initiated with an Outperform rating, Robert Baird said. $119 price target. Truck orders should pick up in 2013 and new orders should help drive growth. 

 

Update
Cabot Oil & Gas rated new Neutral at UBS
Dec 05, 2012 | 8:03 AM EST

COG was initiated with a Neutral rating, UBS said. $50 price target. Marcellus constraints won't be fixed until mid 2013. 

Bullish
Concho rated new Buy at UBS
Dec 05, 2012 | 8:04 AM EST

CXO was initiated with a Buy rating, UBS said. $93 price target. Asset oiliness and well productivity are under appreciated. 

Bearish
Darden Restaurants downgraded at Jefferies
Dec 05, 2012 | 8:06 AM EST

Shares of DRI downgraded to Hold from Buy, Jefferies said. $47 price target. Finding it tougher to turn SSS trends.

Chart Industries rated new Hold at Stifel
Dec 05, 2012 | 8:00 AM EST

Coverage of GTLS was started with a Hold rating, Stifel Nicolaus said. Company lacks near-term catalysts. 

 

Bullish
Kodiak Oil and Gas rated new Buy at UBS
Dec 05, 2012 | 8:02 AM EST

KOG was initiated with a Buy rating, UBS said. $12 price target. Expect higher capital efficiency in 2013 and upside to consensus production. 

Liberty Media downgraded at Wunderlich
Dec 05, 2012 | 7:28 AM EST

LMCA was downgraded from Buy to Hold, Wunderlich said. $110 price target. Company lost DIS studio content to NFLX.

 

Update
Limited rated new Market Perform at FBR
Dec 05, 2012 | 7:01 AM EST

Coverage of LTD was started with a Market Perform rating, FBR Capital Markets said. $50 price target. Sales momentum has been decelerating at Victoria's Secret. 

 

NVIDIA Corp downgraded at Oppenheimer
Dec 05, 2012 | 8:13 AM EST

Shares of NVDA downgraded to Perform from Outperform, Oppenheimer said. Hard to ignore PC outlook.

Bullish
VeriFone upgraded at UBS
Dec 05, 2012 | 8:00 AM EST

PAY was upgraded to Buy from Neutral, UBS said. $39 price target. Risk/reward tilts favorably. 

Bullish
PNC Financial upgraded at Compass Point
Dec 05, 2012 | 6:51 AM EST

PNC was upgraded from Neutral to Buy, Compass Point said. $63 price target. Stock is already pricing in lower net interest income. 

 

Update
Portland General rated new Hold at Keybanc
Dec 05, 2012 | 6:57 AM EST

Coverage of POR was started with a Hold rating, Keybanc said. Company is spending a lot and faces near-term rate decisions. 

 

Bankrate rated new Buy at Needham
Dec 05, 2012 | 6:55 AM EST

RATE was initiated with a Buy rating, Needham said. $15 price target. Company is a high-quality operator with high barriers to entry. 

 

Bullish
Rackspace rated new Overweight at JP Morgan
Dec 05, 2012 | 8:28 AM EST

RAX was initiated with an Overweight rating, JP Morgan said. $83 price target. Cloud computing remains a strong area for secular growth. 

Supernus Pharmaceuticals rated new Buy at Lazard
Dec 05, 2012 | 8:03 AM EST

SUPN was initiated with a Buy rating, Lazard said. $16 price target. New epilepsy drugs should drive growth. 

Tibco downgraded at BofA/Merrill
Dec 05, 2012 | 7:51 AM EST

TIBX was downgraded from Buy to Neutral, Bank of America/Merrill Lynch said. $26 price target. Company is seeing lower results across the board. 

Bearish
WABCO downgraded at William Blair
Dec 05, 2012 | 8:18 AM EST

WBC was downgraded to Market Perform from Outperform, William Blair said. Valuation call and potential downward EPS revisions. $65 price target.  

Bearish
Wesco downgraded at FBR
Dec 05, 2012 | 6:53 AM EST

WCC was downgraded from Outperform to Market Perform, FBR Capital Markets said. $66 price target. Stock also cut from Top Picks list. Lower organic growth may cut into margins over the coming quarters. 

 

Whitewave Foods rated new Buy at BofA/Merrill
Dec 05, 2012 | 7:50 AM EST

WWAV was initiated with a Buy rating, Bank of America/Merrill Lynch said. $18 price target. Company can grow twice as fast as its peers. 

Stock Comments / EPS Changes

Altera Corp numbers lowered at Jefferies
Dec 05, 2012 | 8:08 AM EST

Shares of ALTR now seen reaching $35, Jefferies said. Estimates also lowered on mid- quarter update. Hold rating.

Bearish
Darden Restaurants numbers cut at UBS
Dec 05, 2012 | 7:58 AM EST

Shares of DRI now seen reaching $52, UBS said. Estimates also lowered on negative F2Q preannouncement. Buy rating. 

Baker Hughes estimates reduced at Guggenheim
Dec 05, 2012 | 8:09 AM EST

BHI estimates were cut through 2013, Guggenheim said. Company is seeing slower international demand. Neutral rating and $50 price target. 

Bullish
Edwards Lifesciences numbers raised at Citigroup
Dec 05, 2012 | 7:56 AM EST

Shares of EW now seen reaching $98, Citigroup said. Estimates also increased on greater US TAVI revenues. Nuetral rating. 

Bearish
Coca-Cola estimates lowered at JP Morgan
Dec 05, 2012 | 8:26 AM EST

KO estimates were cut through 2013, JP Morgan said. Company is leveraged to slower international growth. Neutral rating and $43 price target. 

Mattress Firm numbers cut at Keybanc
Dec 05, 2012 | 7:57 AM EST

MFRM estimates were reduced through 2013, Keybanc said. Company is facing increased competition. Buy rating and new $34 price target. 

Microsoft estimates, target cut at MKM
Dec 05, 2012 | 8:06 AM EST

Shares of MSFT now seen reaching $28, according to MKM Partners. Estimates also reduced, as recent checks show lower demand for Windows 8 Surface. 

Bearish
Vail Resorts numbers reduced at JMP
Dec 05, 2012 | 8:12 AM EST

MTN estimates were cut through 2013, JMP Securities said. Company has had a slow start to its season. Outperform rating and new $60 price target. 

Bullish
Regal Beloit numbers boosted at JMP
Dec 05, 2012 | 8:20 AM EST

Shares of RBC now seen reaching $78, according to JMP Securities. Estimates also upped, as new products should help drive growth over the coming quarters. Outperform rating. 

Bearish
AT&T estimates trimmed at Citigroup
Dec 05, 2012 | 7:52 AM EST

T estimates lowered through 2013, Citigroup said. Accelerated network investments. $39 price target and Buy rating. 

TIBCO Software numbers lowered at Jefferies
Dec 05, 2012 | 8:10 AM EST

Shares of TIBX now seen reaching $25, Jefferies said. Estimates also lowered on weakness throughout BI/data analytics. Buy rating.

Economics

Update
ADP Employment
Dec 05, 2012 | 6:29 AM EST

8:15am: ADP Employment Change, Nov. est. 125k (prior 158k)

Update
Nonfarm Productivity
Dec 05, 2012 | 6:30 AM EST

8:30am: Nonfarm Productivity, 3Q F est. 2.8% (prior 1.9%)

Update
Factory Orders
Dec 05, 2012 | 6:30 AM EST

10am: Factory Orders, Oct. est. 0.0% (prior 4.8%)

Update
ISM non-Mfg.
Dec 05, 2012 | 6:31 AM EST

10am: ISM Non-Manf. Composite, Nov. est. 53.5 (prior 54.2)

Meetings

Update
Wells Energy Pipeline Conf.
Dec 05, 2012 | 7:10 AM EST

Wells Fargo Pipeline, MLP and Energy Symposium (Day 2 of 2) - 12/04/12 - 12/05/12 New York, NY

Update
Capital One Energy Conf.
Dec 05, 2012 | 7:08 AM EST

Capital One Southcoast Energy Conference (Day 3 of 4) - 12/03/12 - 12/06/12 New Orleans, LA

Update
LOW Analyst Mtg.
Dec 05, 2012 | 7:06 AM EST

Lowe's Analyst and Investor Conference - 10AM 

SBUX Investor Mtg.
Dec 05, 2012 | 7:07 AM EST

 Starbucks Coffee 2012 Biennial Investor Conference - 8AM 

Update
UBS Media/Communications Conf.
Dec 05, 2012 | 7:09 AM EST

UBS Global Media and Communications Conference

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