Upgrades & Downgrades

Format: 2015-08-02
Format: 02:43

Change in Ratings

Adobe Systems upgraded at JMP
Dec 14, 2012 | 8:04 AM EST

ADBE was upgraded from Underperform to Outperform, JMP Securities said. $42 price target. Company is successfully moving its offerings over to the cloud. 

Adtran rated new Neutral at JP Morgan
Dec 14, 2012 | 8:14 AM EST

Coverage of ADTN was started with a Neutral rating, JP Morgan said. $19 price target. Core business could continue to decline in 2013. 

Update
Burger King rated new Neutral at BofA/Merrill
Dec 14, 2012 | 8:07 AM EST

Coverage of BKW was started with a Neutral rating, Bank of America/Merrill Lynch said. Valuation call, based on an $19.50 price target. 

Cienna downgraded at BMO Capital Markets
Dec 14, 2012 | 8:13 AM EST

Shares of CIEN downgraded to Market Perform from Outperform, BMO Capital Markets said. $15 price target. Conversion to revenue could slow.

Clearwire downgraded at Guggenheim
Dec 14, 2012 | 8:10 AM EST

CLWR was downgraded to Neutral, Guggenheim said. $3 price target. It is uncertain if there will be a materially higher bid than Sprint's offer of $2.90. 

Bullish
Carpenter Technology initiated at Goldman Sachs
Dec 14, 2012 | 8:19 AM EST

Shares of CRS rated new Buy, Goldman Sachs said. $63 price target. Margin/volume expansion story.

Endo Health downgraded at Needham
Dec 14, 2012 | 6:58 AM EST

ENDP was downgraded from Hold to Underperform, Needham said. Core franchises will likely continue to deteriorate. 

 

Bullish
Ensco upgraded at Jefferies
Dec 14, 2012 | 8:01 AM EST

Shares of ESV upgraded to Buy from Hold, Jefferies said. $70 price target. Strong free cash flow.

Bullish
Halcon Resources rated new Outperform at Baird
Dec 14, 2012 | 7:09 AM EST

HK was initiated with an Outperform rating, Robert Baird said. $10 price target. Company can deliver industry-leading growth in 2013. 

 

Bullish
Hornbeck rated new Buy at Citigroup
Dec 14, 2012 | 8:31 AM EST

HOS was initiated with a Buy rating, Citigroup said. $60 price target. Aggressive pursuit of up to a 64 vessel construction program. 

Microsoft rated new Market Perform at BMO
Dec 14, 2012 | 7:24 AM EST

MSFT was initiated with a Market Perform rating, BMO Capital said. $30 price target. Weak PC market and lowert tablet demand will likely weigh on shares. 

 

Bullish
Micron upgraded at Drexel Hamilton
Dec 14, 2012 | 8:09 AM EST

MU was upgraded to Buy, Drexel Hamilton said. $8 price target. Spot memory prices continue to surge. 

Bullish
Newcastle Investment rated new Buy at UBS
Dec 14, 2012 | 8:20 AM EST

NCT was initiated with a Buy rating, UBS said. $10 price target. Ties to Fortress and Nationstar provide competitive advantage. 

Bearish
National Oilwell downgraded at Guggenheim
Dec 14, 2012 | 8:12 AM EST

NOV was downgraded from Buy to Neutral, Guggenheim said. $71 price target. Estimates also cut, as rig counts could fall in North America. 

Bullish
Six Flags rated new Outperform at Wells
Dec 14, 2012 | 8:05 AM EST

SIX was initiated with an Outperform rating, Wells Fargo said. Company generates strong recurring cashflow and its business has high barriers to entry. 

Bullish
SPX upgraded at Nomura
Dec 14, 2012 | 8:22 AM EST

SPW was upgraded to Buy, Nomura said. $80 price target. Stock is attractive, following the recent pullback. 

Bullish
Tidewater rated new Buy at Citigroup
Dec 14, 2012 | 8:33 AM EST

TDW was initiated with a Buy rating, Citigroup said. $62 price target. Committed capital to expanding fleet. 

TIVO initiated at Goldman Sachs
Dec 14, 2012 | 8:15 AM EST

Shares of TIVO rated new Buy, Goldman Sachs said. $15 price target. Well positioned to target consumers who desire a premium experience.

Update
Waddell & Reed rated new Equal-weight at Morgan Stanley
Dec 14, 2012 | 8:19 AM EST

WDR was initiated with an Equal-weight rating, Morgan Stanley said. $35 price target. Stock is pricing in both expansion opportunites and flow headwinds.

Wynn Resorts downgraded at UBS
Dec 14, 2012 | 8:18 AM EST

WYNN was downgraded to Neutral from Buy, UBS said. $118 price target. No major catalysts and Cotai parcel a challenge. 

Stock Comments / EPS Changes

Apple numbers cut at UBS
Dec 14, 2012 | 8:24 AM EST

Shares of AAPL now seen reaching $700, UBS said. Estimates also lowered on slowing iPhone build rates. Buy rating. 

Bullish
CVS Caremark numbers increased at Lazard
Dec 14, 2012 | 8:27 AM EST

CVS estimates were raised through 2014, Lazard said. Company boosted its guidance. Buy rating and new $48.50 price target. 

Bearish
Diamond Offshore Drilling numbers lowered at Jefferies
Dec 14, 2012 | 8:04 AM EST

Shares of DO now seen reaching $73, Jefferies said. Estimates also lowered on valuation. Hold rating.

Bullish
Phillips 66 numbers raised at Oppenheimer
Dec 14, 2012 | 7:59 AM EST

Shares of PSX now seen reaching $60, Oppenheimer said. Estimates also raised on bullish analyst meeting. Outperform rating.

Strategy Calls / Market Calls

Bullish
S&P 500 target increased at JP Morgan
Dec 14, 2012 | 8:15 AM EST

SPX now seen reaching 1,440 by the end of the year, JP Morgan said. Investors will likely continue to chase beta. 

Economics

Update
Consumer Prices
Dec 14, 2012 | 7:03 AM EST

8:30am: Consumer Price Index M/m, Nov. est. -0.2% (prior

    0.1%)

Update
Core CPI
Dec 14, 2012 | 7:04 AM EST

8:30am: CPI ex-Food & Energy M/m, Nov. est. 0.2% (prior

    0.2%)

Update
PMI
Dec 14, 2012 | 7:04 AM EST

8:58am: Markit US PMI Preliminary, Dec. est. 51.8 (prior

    52.4)

Update
Industrial Production
Dec 14, 2012 | 7:05 AM EST

9:15am: Industrial Production, Nov. est. 0.3% (prior -0.4%)

Update
Capacity Utilization
Dec 14, 2012 | 7:05 AM EST

9:15am: Capacity Utilization, Nov. est. 78.0% (prior 77.8%)

Meetings

Update
LUV Investor Mtg.
Dec 14, 2012 | 7:28 AM EST

Southwest Airlines 2012 Investor Day - 8:30AM

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