Acuity Brands rated new Underperform at Sterne Agee
AYI was initiated with an Underperform rating, Sterne Agee said. $26 price target. As company continues to invest in itself, margins will likely come under pressure.
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Arch Coal numbers lowered at Credit Suisse
ACI estimates were cut through 2013, Credit Suisse said. Company reduced its guidance. Neutral rating and new $18 price target.
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Arch Coal estimates cut at UBS
ACI estimates lowered through 2011, UBS said. Company announced negative guidance revision. Maintain $40 price target and Buy rating.
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Bank of America target cut at Credit Suisse
Shares of BAC now seen reaching $13, according to Credit Suisse. Estimates also reduced, given lower investment banking and trading expectations. Outperform rating.
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Citigroup estimates, target lowered at Credit Suisse
Shares of C now seen reaching $50, according to Credit Suisse. Estimates also cut, given lower expected sales. Neutral rating.
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Coach price target raised at Jefferies
COh price target increased to $70, Jefferies said. Powerful brand with a compelling global growth story. Maintain Buy rating.
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EOG Resources rated new Buy at Brean Murray
EOG was initiated with a Buy rating, Brean Murray said. $130 price target. High margin liquids production growth will validate its capex program.
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Goldman Sachs numbers reduced at Credit Suisse
GS estimates were cut through 2013, Credit Suisse said. Client activity and asset prices remain weak. Outperform rating and new $145 price target.
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HomeAway rated new Hold at Citigroup
AWAY was initiated with a Hold rating, Citigroup said. $38 price target. Strong business model, but already reflected in valuation.
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Ingersoll-Rand upgraded at Citigroup
IR was upgraded from Sell to Hold, Citigroup said. $29 price target. Sharp 12% selloff on negative preannouncement limits near term downside.
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Ingersoll-Rand numbers reduced at Goldman
Shares of IR now seen reaching $36, according to Goldman Sachs. Estimates also cut, as construction markets remain weak. Neutral rating.
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Morgan Stanley numbers cut at Credit Suisse
Shares of MS now seen reaching $28, according to Credit Suisse. Estimates also reduced, given softness in the capital markets. Outperform rating.
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NetApp upgraded at Citigroup
NTAP was upgraded from Hold to Buy, Citigroup said. $45 price target. Valuation call along with strong storage demand checks.
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News Corp. downgraded at Goldman
NWSA was downgraded from Buy to Neutral, Goldman Sachs said. Valuation call.
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Priceline.com upgraded at Morgan Stanley
PCLN was upgraded from Equal-weight to Overweight, Morgan Stanley said. $650 price target. Fears of increased European competition have been overblown.
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Realty Income Corp estimates lowered at UBS
O estimates lowered through 2012 to reflect recent capital activity and potential lease rejections. Maintain $33 price target and neutral rating.
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Salix Pharmaceuticals rated new Buy at BofA Merrill
SLXP was initiated with a Buy rating, Bank of America Merrill Lynch said. $38 price target. Strong, sustainable growth in the GI tract.
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SL Green Realty upgraded at Jefferies
SLG was upgraded from Hold to Buy, Jefferies said. $75 price target. NYC Office Market Survey concluded that cap rates should remain low.
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State Street downgraded at Jefferies
STT was downgraded from Buy to Hold, Jefferies said. $38 price target. Expectation for negative estimate revisions to play catch up relative to peers.
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Time Warner upgraded at Goldman
TWX was upgraded from Neutral to Buy, Goldman Sachs said. Company has least exposure to potential decline in advertising.
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Urban Outfitters target cut at Credit Suisse
Shares of URBN now seen reaching $26, according to Credit Suisse. Company may struggle to maintain premium pricing.
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Viacom cut from Conviction Buy List at Goldman
VIA.B was removed from the Conviction Buy list, Goldman Sachs said. Company could face near-term advertising weakness.
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W.W. Grainger downgraded at Citigroup
GWW was downgraded from Hold to Sell, Citigroup said. $138 price target. Unsustainably high relative P/E multiple to its Multi-Industry peers.
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Wells Fargo estimates cut at Credit Suisse
WFC estimates were reduced through 2013, Credit Suisse said. Company is realizing a lower net interest margin. Neutral rating.
