Market Digest 4-8-10

 AmerisourceBergen upgraded at Citigroup
ABC was upgraded to Buy, Citigroup said. $34 price target. New analyst sees value, following positive channel checks.

 AthenaHealth upgraded at Citigroup
ATHN was upgraded to Hold, Citigroup said. Stock is down 20% from its highs, and the new analyst believes that the company has a superior sales model. $39 price target.

 BMC Software upgraded at Credit Suisse
BMC upgraded to Outperform from Neutral. OEM relationship with Cisco should fuel earnings growth, Credit Suisse said. Price target raised to $46 from $39.50. 2010 and 2011 EPS estimates set at $2.70 and $2.90, respectively. 

 eBay downgraded at Kaufman
EBAY was downgraded from Buy to Hold, Kaufman Bros. said. $31 price target. Recent data points show slower U.S. growth.

 KeyCorp downgraded at Baird
KEY was downgraded from Neutral to Underperform, Robert Baird said. $7 price target. Valuation is no longer attractive, based on normalized earnings and tangible book value.

 Monsanto estimates, target lowered at UBS
Shares of MON now seen reaching $86, UBS said. Estimates also cut, because of a slower expected product ramp. Buy rating.

 Monsanto downgraded at Jefferies
MON was downgraded from Buy to Hold, Jefferies said. $71 price target. Company missed earnings expectations last quarter and is seeing increased competition.

 People's United Financial initiated at BofA/Merrill
PBCT coverage initiated with a Neutral rating and $16.50 price target. PBCT is well positioned to benefit from higher short term interest rates and a healthy bank M&A cycle, Bank of America/Merrill Lynch said.

 Principal Financial downgraded at Citigroup
PFG was downgraded from Buy to Hold, Citigroup said. Valuation call, based on a $32 price target.

 Smith International upgraded at Barclays
SII upgraded to Equal Weight from Underweight as Schlumberger agreed to acquire the company, Barclays said. 2010 and 2011 EPS estimates set at $1 and $1.40, respectively. Price target surged to $52 from $25. 

 Air Products numbers boosted at Morgan Stanley
APD estimates were increased through 2011, Morgan Stanley said. Expect ARG deal to close and believe that the company can ultimately take market share. Overweight rating and new $92 price target.

 Bed Bath & Beyond target, estimate boosted at Barclays
BBBY price target raised to $47 from $44 as 4Q results beat expectations, Barclays said. 2011 EPS estimate improved to $2.68 from $2.49. Maintain Equal Weight rating. 

 Bed Bath & Beyond numbers upped at UBS
BBBY estimates were raised through 2012, UBS said. Company faces difficult comps, but will likely buy back stock over the coming quarters. Buy rating and new $55 price target.

 EOG Resources estimates, target boosted at UBS
Shares of EOG now seen reaching $112, UBS said. Estimates also upped, as the company boosted production growth guidance at its analyst meeting. Neutral rating.

 Express Scripts numbers increased at UBS
Shares of ESRX now seen reaching $126, according to UBS. Estimates also raised, as the company will likely target larger customers going forward. Buy rating.

 Family Dollar estimates boosted at Morgan Stanley
FDO estimates were increased through 2012, Morgan Stanley said. Company is seeing a higher gross margins, as sales initiatives are paying off. Equal-weight rating.

 Family Dollar target, estimates boosted at Barclays
FDO price target jumped to $41 from $36 as the company is focused on driving sales, Barclays said. 2010 and 2011 EPS estimates raised to $2.58 and $3.10, respectively. Reiterate Equal Weight rating. 

 First Solar price target higher at BofA/Merrill
FSLR price target jumped to$135 from $120. Valuation call, Bank of America/Merrill Lynch said. 2010 and 2011 EPS estimate set at $6.35 and $7.20, respectively. Maintain Neutral rating. 

 Medco Health target boosted at UBS
MHS target was raised to $76, UBS said. Company can still deliver 18% annual earnings growth over the next 5 years. Buy rating.

 Monsanto target, estimates lower at Barclays
MON price target cut to $76 from $82 on lower expectations, Barclays said. 2010 EPS estimate lowered to $3.12, 2011 held at $3.66. Maintain Equal Weight rating. 

 Panera Bread numbers boosted at MKM
PNRA estimates were increased through 2011, MKM Partners said. Company is likely seeing strong sales momentum and should be able to expand margins. Buy rating and new $88 price target.

 Praxair esimates, target increased at Morgan Stanley
Shares of PX now seen reaching $89, according to Morgan Stanley. Estimates also raised, as the stock is not yet pricing in cyclical growth potential. Equal-weight rating.

 Schnitzer Steel numbers boosted at UBS
Shares of SCHN now seen reaching $56, according to UBS. Estimates also increased, given strength in the auto parts and mill segments. Neutral rating.

 Schlumberger target higher, estimate lower at Barclays
SLB price target raised to $75 from $73. 2011 EPS estimate lowered 10 cents to $3.60 on reduced natural gas price forecast, Barclays said. Reiterate Overweight rating. 

 Tractor Supply estimates, target raised at FBR
Shares of TSCO now seen reaching $59, according to FBR Capital Markets. Estimates also increased, given the company's new guidance. Underperform rating.

 Weatherford target, estimate trimmed at Barclays
WFT price target cut by a dollar to $21 as 2011 nat gas price forecasts are lower, Barclays said. 2011 EPS estimates lowered to $1.30, 2010 held at $0.70. Maintain Overweight rating. 

 5 Life Insurance targets lifted at Morgan Stanley
Price targets were increased for AFL, PRU, MET, LNC and TMK, Morgan Stanley said. Stocks should benefit from multiple expansion, given higher expected ROE and book value growth.