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.
