Market Digest 4-28-10

 ACE Limited upgraded at Citi
ACE upgraded to Buy and added to Top Picks Live. Superior reserve/capacity profile and upside potential with A&H business, Citigroup said. Price target raised to $64. 

 Ametek upgraded at Baird
AME was upgraded from Neutral to Outperform, Robert Baird said. Company reported a strong quarter. $49 price target.

 Ashland upgraded at Longbow
ASH was upgraded from Neutral to Buy, Longbow Research said. Estimates also boosted, given price increases. $75 price target.

 Bill Barrett Corp upgraded at Barclays
BBG upgraded to Overweight from Equal Weight on valuation. Perception that the company's Rockies project could be pressured in current price environment, Barclays said. Price target increased to $43 from $38. 

 Dell downgraded at UBS
DELL was downgraded from Buy to Neutral, UBS said. Valuation call, as the stock is up 25% in the past two months. $17.50 price target.

 Domino's Pizza downgraded at Citi
DPZ downgraded to Hold from Buy on valuation and high expectations, Citigroup said. Price target raised by a dollar to $19.50. 2010 and 2011 EPS estimates lifted to $1.30 and $1.41, respectively. 

 Davita downgraded at Jefferies
DVA was downgraded from Buy to Hold, Jefferies said. $69 price target. Multiple potential negative catalysts lie ahead.

 Ford downgraded at Credit Suisse
F downgraded to Underperform from Neutral. Profit levels have red-lined, time to down-shift, Credit Suisse said. Maintain $10 price target. 

 Ford target, estimates raised at Barclays
F price target inched higher to $13 from $12 on solid 1Q10 beat, Barclays said. 2010 and 2011 EPS estimates lifted to $1.57 and $1.85, respectively. Equal Weight rating. 

 Ford estimates increased at UBS
F estimates were raised through 2011, UBS said. Company is seeing better results for credit and in Europe. Buy rating and $16 price target.

 Forest Oil downgraded at Barclays
FST downgraded to Equal Weight from Overweight based on recent share performance, Barclays said. 

 US Airways upgraded at Jesup & Lamont
LCC was upgraded from Hold to Buy, Jesup & Lamont said. $13 price target. Stock should sell for 10 times 2010 earnings.

 3M estimates, target upped at UBS
MMM estimates were boosted through 2011, UBS said. Company is seeing better organic growth. Buy rating and new $110 price target.

 3M Company upgraded at Barclays
MMM upgraded to Overweight from Equal Weight on better than expected 1Q10 results, Barclays said. Price target jumped to $105 from $90. Estimates raised through 2012. 

 NBTY downgraded at Wedbush
NTY was downgraded from Outperform to Neutral, Wedbush Morgan said. $41 price target. See decelerating growth in the industry.

 NBTY upgraded at Barclays
NTY upgraded to Overweight from Equal Weight. The company's results showed that it will hurt the short-term to benefit the long-term. Price target increased to $46 from $44. 2010 EPS estimate cut to $3.76, 2011 raised to $4.53. 

 Pride International upgraded at Credit Suisse
PDE upgraded to Outperform from Neutral. Higher forecasts, new contract opportunities, and ongoing cost cutting, Credit Suisse said. Price target raised to $38 from $30. 

 Progress Energy rated new Hold at Deutsche
PGN was initiated with a Hold rating, Deutsche Bank said. $39 price target. Company still faces challenges in Florida.

 Robert Half downgraded at Baird
RHI was downgraded from Outperform to Neutral, Robert Baird said. Accountemps division is lagging. $31 price target.

 Savvis downgraded at Morgan Stanley
SVVS was downgraded from Overweight to Equal-weight, Morgan Stanley said. Valuation call, as the stock is up 32% year-to-date.

 Tellabs upgraded at Jefferies
TLAB was upgraded from Hold to Buy, Jefferies said. $10.50 price target. Company had a strong quarter and boosted guidance.

 Tellabs upgraded at JP Morgan
TLAB upgraded at JP Morgan. Rating raised to Overweight from Neutral. Price target raised to $11.00 from $8.50. 2010 EPS estimates raised to $0.51 from $0.36.

 United Parcel upgraded at Morgan Stanley
UPS was upgraded from Underweight to Equal-weight, Morgan Stanley said. Company reported a strong quarter and trades at a reasonable valuation.

 Watson Pharmaceuticals upgraded at Goldman
WPI was upgraded from Sell to Neutral, Goldman Sachs said. Estimates also boosted, given recent product approvals and higher expected cost savings.

 Cimarex Energy upgraded at Barclays
XEC upgraded to Overweight from Equal Weight based on the company's strong balance sheet and prospects for further volume gains, Barclays said. Price target boosted to $93 from $70. 

 Ameriprise Financial numbers raised at Goldman

Shares of AMP now seen reaching $52, according to Goldman Sachs. Estimates also increased, as the company's margins are improving. Neutral rating.

 BE Aerospace estimates, target increased at FBR
BEAV estimates were raised through 2011, FBR Capital Markets said. Company boosted guidance. Outperform rating and new $38 price target.

 Broadcom estimates, target increased at UBS
BRCM estimates were raised through 2011, UBS said. Company is seeing better wireless growth. Neutral rating and new $39 price target.

 Boston Scientific estimates cut at Morgan Stanley
BSX estimates were reduced through 2011, Morgan Stanley said. Company still stands to lose market share. Overweight rating and $10 price target.

 Chicago Bridge & Iron numbers boosted at Goldman
Shares of CBI now seen reaching $31, according to Goldman Sachs. Estimates also upped, given the company's improving margins. Buy rating.

 Choice Hotels numbers increased at FBR
CHH estimates were raised through 2011, FBR Capital Markets said. Fee-based model is driving growth. Outperform rating and new $42 price target.

 Cummins target, estimates boosted at Barclays
CMI price target surged to $95 from $74. 1Q10 beat highlighted by a strong emerging markets position, Barclays said. 2010 and 2011 EPS estimates lifted to $4.15 and $5.75, respectively. Overweight rating. 

 Cummins estimates, target boosted at UBS
Shares of CMI now seen reaching $98, according to UBS. Estimates also upped, as the company is realizing higher margins. Buy rating.

 CVS Caremark numbers boosted at UBS
Shares of CVS now seen reaching $46, according to UBS. Estimates also upped, given better PBM trends. Buy rating.

 Dupont price target increased at BofA/Merrill
DD price target lifted to $44 from $40. Raising numbers on broad-based volume strength, Bank of America/Merrill Lynch said. 

 Dupont estimates, target raised at UBS
Shares of DD now seen reaching $47, UBS said. Estimates also increased, to match the company's new guidance. Buy rating.

 Flextronics estimates, target raised at UBS
Shares of FLEX now seen reaching $9.50, according to UBS. Estimates also increased, because of the company's new guidance. Buy rating.

 Home Depot price target boosted at Citi
HD price target jumped to $43 from $34 as Spring selling season is off to a stronger-than-expected start, Citigroup said. Estimates raised through 2012. Buy rating. 

 Health Management price target higher at BofA/Merrill
HMA price target raised by fifty cents to $11 after strong results. Story on track for out Top Pick, Bank of America/Merrill Lynch said. Estimates raised through 2012. Buy rating. 

 Jacobs Engineering numbers raised at UBS
Shares of JEC now seen reaching $50, according to UBS. Estimates also increased, to match the company's new guidance. Neutral rating.

 Kellogg estimates lowered at UBS
K estimates were reduced through 2011, UBS said. Company is seeing declining volume trends. Buy rating and $61 price target.

 Kansas City Southern numbers upped at UBS
KSU estimates were boosted through 2011, UBS said. Company is paying down debt and has strong earnings momentum. Outperform rating and new $50 price target.

 Life Technologies numbers upped at Morgan Stanley
LIFE estimates were boosted through 2012, Morgan Stanley said. Company is seeing higher organic growth and margin expansion. Overweight rating and new $58 price target.

 Lexmark target, estimates higher at Citi
LXK price target increased to $56 from $52. 2010 and 2011 EPS estimates raised to $4.49 and $5.02, respectively. Reiterate Buy rating, but removing from Top Picks Live, Citigroup said. 

 Macy's estimates, target boosted at Goldman
Shares of M now seen reaching $28, according to Goldman Sachs. Estimates also upped, as the company is seeing higher sales. Neutral rating.

 Molex estimates, target increased at UBS
MOLX estimates were raised through 2011, UBS said. Company boosted its forward guidance. Neutral rating and new $24 price target.

 Norfolk Southern price target raised at BofA/Merrill
NSC price target lifted to $64 from $61 as top line and cost controls drive EPS beat, Bank of America/Merrill Lynch said. Estimates increased through 2011. Neutral rating. 

 Norfolk Southern numbers boosted at FBR
Shares of NSC now seen reaching $66, according to UBS. Estimates also upped, as the company is posting higher volumes and yields. Market Perform rating.

 Office Depot numbers reduced at Goldman
ODP estimates were cut through 2012, Goldman Sachs said. Company is seeing lower sales and running out of potential cost savings. Neutral rating and new $8 price target.

 RF Micro estimates, target boosted at UBS
Shares of RFMD now seen reaching $6.50, according to UBS. Estimates also upped, as the company continues to execute and see better bookings. Buy rating.

 Stanley Black & Decker price target raised at Credit Suisse
SWK price target increased to $74 from $69 on better underlying trends, Credit Suisse noted. Estimates improved through 2012. Maintain Outperform rating. 

 Torchmark estimates, target raised at FBR
Shares of TMK now seen reaching $61, according to FBR Capital Markets. Estimates also increased, as the company is seeing better underwriting results. Outperform rating.

 Under Armour estimates, target raised at FBR
Shares of UA now seen reaching $34, according to FBR Capital Markets. Estimates also increased, given the company's new guidance. Market Perform rating.

 Wright Express numbers upped at Goldman
WXS estimates were boosted through 2012, Goldman Sachs said. Company is seeing higher transaction growth and improved credit quality. Neutral rating and new $33 price target.

 U.S. Steel estimates, target raised at Goldman
Shares of X now seen reaching $73, according to Goldman Sachs. Estimates also increased, as the company is seeing growth across the board. Buy rating.

 Cimarex Energy numbers boosted at Morgan Stanley
Shares of XEC now seen reaching $80, according to Morgan Stanley. Estimates also upped, as the company should see a higher multiple. Overweight rating.