Market Digest 4-14-10

 Ann Taylor upgraded at BofA/Merrill
8:33 AM EDT

ANN upgraded to Buy from Neutral as trends in woman's retail are improving, Bank of America/Merrill Lynch said. Price target increased to $26. 2010 and 2011 EPS estimates set at $0.81 and $1.07, respectively.

 Boyd Gaming rated new Underweight at Morgan Stanley
8:33 AM EDT

BYD was initiated with an Underweight rating, Morgan Stanley said. $10 price target. Stock is up 60% since March 1, and is ahead of fundamentals.

 Chico's FAS upgraded at BofA/Merrill
8:33 AM EDT

CHS upgraded to Buy from Neutral. Operational turnaround helps drive earnings upside, Bank of America/Merrill Lynch said. Price target improved to $18. 2010 and 2011 EPS estimates set at $0.78 and $1.04, respectively.

 Cree upgraded at Morgan Joseph
7:29 AM EDT

CREE was upgraded from Hold to Buy, Morgan Joseph said. $100 price target. Expect the company to post strong quarterly results, driven by LED sales.

 Salesforce.com upgraded at Janney
7:36 AM EDT

CRM was upgraded from Neutral to Buy, Janney Montgomery said. $94 price target. SaaS migration should continue over the next decade and the company can deliver 20%-plus bookings growth for several years.

 Dendreon downgraded at Citigroup
8:18 AM EDT

DNDN was downgraded from Buy to Hold, Citigroup said. $40 price target. Valuation call, as Provenge approval could face delays.

 Forest City upgraded at Goldman
7:53 AM EDT

FCE.A was upgraded from Neutral to Buy, Goldman Sachs said. $20 price target. Company is leveraged to improving credit trends and commercial real estate fundamentals.

 Las Vegas Sands rated new Equal-weight at Morgan Stanley
8:24 AM EDT

LVS was initiated with an Equal-weight rating, Morgan Stanley said. $25 price target. Stock is already up 62% year-to-date, but management should continue to execute on its strategy.

 McDonald's upgraded at Janney
7:32 AM EDT

MCD was upgraded from Neutral to Buy, Janney Montgomery said. $75 price target. Expect U.S. same-store sales to begin improving in May.

 Mosaic downgraded at Goldman
7:55 AM EDT

MOS was downgraded from Buy to Neutral, Goldman Sachs said. Nutrient pricing appears to have lost momentum. $64 price target.

 Nokia downgraded at Stifel
8:40 AM EDT

NOK was downgraded from Buy to Hold, Stifel Nicolaus said. Company may fall short of consensus expectations in the first half of the year.

 Penn National rated new Overweight at Morgan Stanley
8:20 AM EDT

PENN was initiated with an Overweight rating, Morgan Stanley said. $35 price target. Company is attractively valued at its Columbus project should drive growth.

 Protective Life upgraded at UBS
8:04 AM EDT

PL was upgraded from Neutral to Buy, UBS said. $31 price target. Company has excess capital and an acquisition could potentially boost returns.

 Potash downgraded at Goldman
7:54 AM EDT

POT was downgraded from Buy to Neutral, Goldman Sachs said. Stock was also cut from the Conviction List. $123 price target. Channel checks show that pricing has stalled.

 Red Hat upgraded at Oppenheimer
7:31 AM EDT

RHT was upgraded from Perform to Outperform, Oppenheimer said. $40 price target. Company is seeing higher demand for its middleware and Advanced Platform offerings.

 Sigma-Aldrich upgraded at UBS
8:01 AM EDT

SIAL was upgraded from Neutral to Buy, UBS said. $68 price target. Company can deliver sustainable organic revenue growth and has operating and financial leverage potential.

 Salix Pharmaceuticals initiated at Thomas Weisel
9:05 AM EDT

SLPX initiated at Thomas Weisel with an Overweight rating and $52 price target. One of the few tangible growth stories remaining in Specialty Pharmaceuticals.

 Tellabs upgraded at UBS
8:08 AM EDT

TLAB was upgraded from Neutral to Buy, UBS said. $10 price target. Estimates also raised, as the company should see higher legacy mobile spending.

 Time Warner downgraded at Morgan Stanley
8:28 AM EDT

TWX was downgraded from Overweight to Equal-weight, Morgan Stanley said. $37 price target. Stock is starting to price in share repurchase and dividend growth potential.

 United Stationers rated new Market Perform at FBR
7:45 AM EDT

USTR was initiated with a Market Perform rating, FBR Capital Markets said. $52 price target. Company is gaining market share, but faces difficult comparisons.

 Wynn Resorts rated new Equal-weight at Morgan Stanley
8:26 AM EDT

Coverage of WYNN was started with an Equal-weight rating, Morgan Stanley said. $89 price target. Stock is already up 49% year-to-date, though the company should continue to grow in Macau.

 Apple estimates increased at Morgan Stanley

8:23 AM EDT

AAPL estimates were boosted through 2012, Morgan Stanley said. Company will likely ship more iPads in the first year than widely expected. Overweight rating and $250 price target.

 Abbott Laboratories estimates raised at Morgan Stanley
8:22 AM EDT

ABT estimates were increased through 2012, Morgan Stanley said. Company can boost EBIT margins across the board. Overweight rating and $63 price target.

 Abercrombie & Fitch target, estimates boosted at Credit Suisse
9:04 AM EDT

ANF price target increased to $63 from $49 to reflect stronger than previously forecasted total sales, Credit Suisse said. 2011 and 2012 EPS estimates raised to $2.10 and $3.00, respectively. Reiterate Outperform rating.

 CSX target, estimates higher at Barclays
8:24 AM EDT

CSX price target improved to $59 from $57 after strong 1Q10 numbers, Barclays said. 2010 and 2011 EPS estimates increased to $3.30 and $3.95, respectively. Equal Weight rating.

 CSX estimates, target raised at FBR
7:40 AM EDT

CSX estimates were increased through 2011, FBR Capital Markets said. Company is seeing better yields and costs. Outperform rating and new $66 price target.

 Fastenal estimates, target boosted at Morgan Stanley
8:29 AM EDT

Shares of FAST now seen reaching $51, Morgan Stanley said. Estimates also raised, given improving sales trends. Underweight rating.

 Hanesbrands estimates, target increased at FBR
7:39 AM EDT

Shares of HBI now seen reaching $32, according to FBR Capital Markets. Estimates also raised, following positive channel checks. Outperform rating.

 Home Depot price target raised at Barclays
8:23 AM EDT

HD price target increased to $34 from $32 after positive investor meeting with management, Barclays said. 2011 and 2012 EPS estimates held at $1.81 and $2.15, respectively. Overweight rating.

 Intel target, estimates boosted at Barclays
8:24 AM EDT

INTC price target raised to $27 from $25 on robust 1Q10, Barclays said. 2010 and 2011 EPS estimates lifted to $1.88 and $2.02, respectively. Overweight rating.

 Intel estimates, target boosted at UBS
8:10 AM EDT

Shares of INTC now seen reaching $32.50, according to UBS. Estimates also raised, to match the company's new guidance. Buy rating.

 Intel estimates, target raised at FBR
7:50 AM EDT

Shares of INTC now seen reaching $30, according to FBR Capital Markets. Estimates also boosted, as the company is seeing higher PC demand. Market Perform rating.

 Intuitive Surgical target boosted at Needham
8:41 AM EDT

Shares of ISRG now seen reaching $410, Needham Research said. Company is a market leader and deserves a premium valuation. Buy rating.

 Linear Technology numbers upped at FBR
7:48 AM EDT

LLTC estimates were increased through 2011, FBR Capital Markets said. Company boosted guidance, following blowout first-quarter results. Underperform rating and new $33 price target.

 Lululemon Athletica target, estimates boosted at Credit Suisse
9:03 AM EDT

LULU price target surged to $34 from $19. Better than expected trends in 1Q10, Credit Suisse said. 2011 and 2012 EPS estimates raised to $1.12 and $1.36, respectively. Maintain neutral rating.

 NY Community Bancorp numbers boosted at FBR
7:47 AM EDT

Shares of NYB now seen reaching $20, according FBR Capital Markets. Estimates also upped, because of higher expected net interest income.

 Southwestern Energy target, estimate lower at Barclays
8:25 AM EDT

SWN price target sunk to $50 from $58 to reflect new commodities price deck, Barclays said. 2010 EPS estimate lowered to $1.15, 2011 set at $0.90. Overweight rating.

 Wesco International target boosted at UBS
8:07 AM EDT

WCC target was upped to $43, UBS said. Company should deliver strong earnings, as industrial markets are improving. Buy rating.

 Warner Chilcott numbers raised at UBS
8:06 AM EDT

WCRX estimates were increased through 2011, UBS said. Company should deliver above-consensus earnings. Buy rating and new $36 price target.

 U.S. Steel target boosted at Deutsche
7:35 AM EDT

Shares of X now seen reaching $73, Deutsche Bank said. Steel prices are likely to move higher, and the company should benefit from sourcing some of its raw materials. Buy rating.