Monday, April 5, 2010

Market Digest 4-5-10



 Alcoa downgraded at Deutsche
AA was downgraded from Buy to Hold, Deutsche Bank said. $18 price target. One-time events are offsetting the company's benefit from higher alumimum prices.

 
Ameriprise Financial rated new Neutral at Goldman
AMP was initiated with a Neutral rating, Goldman Sachs said. $40 price target. Assets are growing and the company can gain market share in the IRA space.

 
Cree upgraded at UBS
CREE was upgraded from Neutral to Buy, UBS said. Estimates also upped, given higher expected LED demand. $92 price target.

 
Computer Sciences downgraded at Kaufman
CSC was downgraded from Buy to Hold, Kaufman Bros. said. $58 price target. Company may fall short of sales growth targets.
GNW target was increased to $22, Barclays Capital said. Mortgage insurers should benefit from new mortgage loan modifications. Overweight rating.

 
Genworth Financial downgraded at Deutsche
GNW was downgraded from Buy to Hold, Deutsche Bank said. Valuation call, based on a $19 price target. Stock is up 63% since 2010.

 
Jack in the Box rated new Equal-weight at Barclays
Coverage of JACK was initiated with an Equal-weight rating, Barclays Capital said. $23 price target. Stock could be range-bound in the coming quarters.

 
Juniper Networks upgraded at Wells
JNPR was upgraded to Outperform, Wells Fargo said. Estiates also boosted, as the company should show strong earnings momentum in its upcoming report.

 
Monster Worldwide downgraded at Goldman
MWW was downgraded to Sell, Goldman Sachs said. $14 price target. Company has lost market share and pricing for recruitment adds will likely not fully recover.

 
Parexel rated new Buy at BofA/Merrill
PRXL was initiated with a Buy rating, Bank of America/Merrill Lynch said. $29 price target. Company is cutting costs and still seeing new business wins.

 
Stifel Financial downgraded at FBR
SF was downgraded from Outperform to Market Perform, FBR Capital Markets said. $60 price target. Valuation call, as there is limited near-term upside to expecatations.

 
Transdigm upgraded at Credit Suisse
TDG was upgraded from Neutral to Outperform, Credit Suisse said. $65 price target. Company has superior and more reliable growth than its peers.

 
Tesoro downgraded at Deutsche
TSO was downgraded to Hold, Deutsche Bank said. $15 price target. Company will be hurt by recent tragic accident.

 
WebMD Health upgraded at Goldman
WBMD was upgraded from Sell to Neutral, Goldman Sachs said. $47 price target. Estimates also upped, as pharma advertising will continue to move online.

 Apple numbers raised at JP Morgan
AAPL numbers raised at JP Morgan. Price target raised to $305 from $240. 2010 EPS estimates raised to $12.74 from $11.59.

 
Apple estimates, target raised at Kaufman
Shares of AAPL now seen reaching $295, according to Kaufman Bros. Estimates also boosted, because of expected strong iPad sales. Buy rating.

 
BMC Software estimates upped at Goldman
BMC estimates were increased through 2012, Goldman Sachs said. Company should see margin growth and also benefit from share buybacks. Neutral rating and $43 price target.

 
Edwards Lifesciences target upped at Credit Suisse
Shares of EW now seen reaching $112, Credit Suisse said. Favorable jury award regarding a valve patent will help the company going forward. Outperform rating.

 
Corning estimates, target raised at Goldman
Shares of GLW now seen reaching $24, according to Goldman Sachs. Estimates also increased, given a tight supply outlook for LCD glass. Buy rating.

 
Hartford Financial estimates raised at FBR
HIG estimates were increased through 2011, FBR Capital Markets said. Company is keeping costs down and can generate a higher ROE. Market Perform rating and $29 price target.

 
CarMax estimates, target upped at Goldman
KMX estimates were increased through 2011, according to Goldman Sachs. Company seeing higher sales and gross margin. Sell rating and new $24 price target.

 
Monsanto estimates, target lowered at UBS
MON estimates were cut through 2011, UBS said. Company will have low pricing for new products. Buy rating and new $89 price target.

 
Mosaic estimates, target lowered at Goldman
MOS estimates were reduced through 2012, Goldman Sachs said. Company is seeing lower phosphate volumes and margins. Buy rating and new $68 price target.

 
Mosaic estimates, target boosted at UBS
Shares of MOS now seen reaching $67, UBS said. Estimates also raised, as the company is seeing higher volumes. Neutral rating.

 
Sandridge Energy estimates cut at UBS
SD estimates were reduced through 2011, according to UBS. ARD acquisition should cut into earnings. Buy rating and $10 price target.

 
Vale estimates, target raised at Goldman
Shares of VALE now seen reaching $47, according to Goldman Sachs. Estimates also boosted, given the new iron ore pricing structure. Buy rating.

 
Wesco International numbers boosted at Credit Suisse
Shares of WCC now seen reaching $40, Credit Suisse said. Estimates also raised, as the company is positioned to benefit from an industrial recovery. Neutral rating.