Credit Suisse Hikes Target on Vale (VALE) to $34; Sees 91% Jump in Profits Next Year Nov 11, 2009 12:17PM

Shares of Brazil's Vale (NYSE: VALE) are moving lower today despite a bullish note from Credit Suisse earlier this morning. The stock most recently traded at $28.04, down 0.9% from yesterday's close.

While maintaining an Outperform rating, the firm boosted its price target on the mining company's stock from $26 to $34, a 31% increase. Credit Suisse also adjusted yearly estimates for Vale, saying the miners profits could rise as much as 91% next year, and by 31% in 2011.

The stock may be seeing downside today as we are hearing that a massive power outage has been making its way across Brazil, now reportedly affecting half of the country.

Companhia Vale do Rio Doce, through its subsidiaries, operates as a diversified metals and mining company worldwide.


S&P Raises Red Hat's (RHT) Corporate Credit Rating to 'BB+' Nov 11, 2009 12:06PM

Red Hat, Inc. (NYSE: RHT) announced that Standard & Poor's (S&P) Rating Services raised Red Hat's corporate credit rating from 'BB' to 'BB+' on Nov. 10, 2009. This upgrade reflects Red Hat's strong performance and consistent growth during a challenging global economic environment.

This marks Red Hat's third upgrade by S&P in just a 20-month period. In addition, Red Hat was selected for inclusion in the S&P 500 stock index starting on July 24, 2009. S&P is a leading provider of financial market intelligence and one of the world's foremost sources of credit ratings, indices, investment research, risk evaluation and data.

[SM]


S&P Places Sprint Nextel (S) Credit Rating On CreditWatch Negative Nov 11, 2009 11:35AM

Standard & Poor's it placed its 'BB' corporate credit rating for Sprint Nextel Corp. (NYSE: S), as well as all related issue-level ratings on the company's debt, on CreditWatch with negative implications.

S&P could either lower or affirm the ratings following the completion of its review.

"The CreditWatch listing is based on the company's weak operating performance through the first nine months of 2009, which has resulted in deteriorating credit measures that may no longer be supportive of the current rating," said Standard & Poor's credit analyst Allyn Arden. Total debt to last-12-month EBITDA was 4.4x as of Sept. 30, 2009, and is likely to drift higher given current operating performance. Total revenue and EBITDA declined 9% and 17%, respectively, in the third quarter of 2009 year over year, due to ongoing post-paid subscriber losses, which totaled 801,000 and still elevated churn of 2.2% relative to its peer group."


Palm (PALM) Shares Rallying as Analysts Gaining Confidence Nov 11, 2009 11:15AM

Palm (Nasdaq: PALM) shares are trading sharply higher this morning as we have several analysts out with seemingly bullish research notes on the company's stock. Shares of Palm most recently traded at $11.84, up 7.7% from yesterday's closing price. Notably, just 90 minutes into the trading session, the stock has already traded 7.1 million times, versus the stock's average daily volume of about 9.2 million shares.

First, following a recent meeting with management, BofA Merrill Lynch issued a very positive note on Palm earlier. The firm reiterated its Buy rating and $20 price target, which would represent potential upside of about 68%. BofA Merrill said the key takeaway from the meeting was: "despite increasing smartphone competition Palm can maintain differentiation and remains well positioned to launch its products with multiple new Tier-1 carriers in early 2010 by which time it should have a robust apps catalog." The firm also notes Palm's recent sliding stock price (down 33% since the beginning of October), saying that the sell-off creates a promising buying opportunity.

Next, we have an analyst from boutique firm MKM Partners starting coverage on the stock with a Neutral rating and $11 price target. While the note is not necessarily bullish, it suggests that downside in the stock could be limited.

To see all the analyst action on shares of Palm, visit our Analyst Ratings page.


Barclays Maintains an 'Equalweight' on Express Scripts (ESRX), Raises PT Nov 11, 2009 10:54AM

Barclays maintains an Equalweight on Express Scripts (Nasdaq: ESRX), raises PT to $95 from $92.

To see more analyst ratings on ESRX Click Here.

Express Scripts, Inc. offers a range of pharmacy benefit management (PBM) services in North America.


More Analyst Comments

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Nov 11, 2009 09:37AM Soleil Securities Maintains a 'Buy' on TRW Automotive (TRW); Raises PT & Estimates
Nov 11, 2009 09:36AM Soleil Securities Maintains a 'Buy' on Toll Brothers (TOL); Adjusts Estimates
Nov 11, 2009 09:27AM Callaway (ELY) Indicated Higher as Wedbush Adds to 'Best Ideas List'
Nov 11, 2009 09:13AM FBR Capital Maintains an 'Outperform' on Tyco (TYC); Raises PT & Estimates
Nov 11, 2009 09:09AM FBR Capital Reiterates an 'Outperform' on KKR Financial (KFN); Warrants Premium Valuation
Nov 11, 2009 09:07AM Goldman Sachs Removed GameStop (GME) from their Conviction Buy List
Nov 11, 2009 09:03AM FBR Capital Reiterates an 'Outperform' on Diana Shipping (DSX)
Nov 11, 2009 08:59AM Susquehanna Maintains a 'Positive' Rating on The Gymboree Corp (GYMB); Raises Estimates & PT
Nov 11, 2009 08:56AM Palm (PALM): Encouraging management meeting; Reiterate Buy - Merrill Lynch/BAM
Nov 11, 2009 08:50AM Morgan Joseph Reiterates a 'Buy' on Primoris Services (PRIM); Comments on Upcoming Q3 Earnings
Nov 11, 2009 08:48AM Morgan Joseph Reiterates a 'Buy' on Full House Resorts (FLL); Increases Estimates
Nov 11, 2009 08:42AM Morgan Joseph Reiterates a 'Buy' on Cumberland Pharmaceuticals (CPIX)
Nov 11, 2009 07:11AM Goldman Sachs Removed Sappi Limited (SPP) from its Conviction Sell List
Nov 11, 2009 07:09AM Deutsche Bank Maintains a 'Buy' on Dick's Sporting Goods (DKS); Indicators Suggest Trends have Bottomed
Nov 10, 2009 05:10PM Goldman Sachs Added Cytec Industries (CYT) to their Conviction Sell List
Nov 10, 2009 03:53PM FBR Capital Recommends An IPO or Spin Off at Chesapeake Energy (CHK)
Nov 10, 2009 03:02PM Canaccord Adams Maintains a 'Buy' on Silver Wheaton (SLW); Raises Price Target
Nov 10, 2009 02:45PM Citi Boosts Target on McDonald's (MCD) to $64, Maintains Hold
Nov 10, 2009 12:55PM Canaccord Adams Reiterates a 'Buy' on Veeco Instruments (VECO); Raises PT & Estimates
Nov 10, 2009 12:53PM Canaccord Adams Reiterates a 'Buy' on NBTY (NTY); Raises PT
Nov 10, 2009 12:51PM Canaccord Adams Reiterates a 'Buy' on Protalix BioTherapeutics (PLX)
Nov 10, 2009 12:47PM Canaccord Adams Reiterates a 'Buy' on Rosetta Resources (ROSE); Raises PT
Nov 10, 2009 12:27PM Wells Fargo Cuts Q4, FY10, FY11 Estimates on Boeing (BA) Following Recent Change to Pension
Nov 10, 2009 11:42AM Oppenheimer Maintains an 'Outperform' on J. M. Smucker (SJM); Raises Price Target
Nov 10, 2009 11:37AM Wedbush Maintains an 'Outperform' on Brocade Communications (BRCD); Comments on October Qtr and Sale Rumors
Nov 10, 2009 09:39AM UBS Removes Sun Micro (JAVA) from 'Least Preferred' List, Adds Netgear (NTGR)
Nov 10, 2009 09:32AM UBS Resumes Wynn (WYNN) at Neutral, Raises Target to $66
Nov 10, 2009 08:52AM FBR Capital Adjusts price Target & Estimates on Applied Materials (AMAT); Comments on Upcoming Quarterly Earnings
Nov 10, 2009 07:26AM Deutsche Bank Reaffirms a 'Buy' on DISH Network (DISH); Raises PT & Estimates
Nov 10, 2009 07:23AM Goldman Sachs Removed Coca-Cola Enterprises (CCE) from their Conviction Buy List
Nov 10, 2009 07:09AM Goldman Sachs Added Polo Ralph Lauren (RL) to its Conviction Buy List
Nov 10, 2009 07:05AM Goldman Sachs Added BJ's Wholesale (BJ) to its Conviction Sell List
Nov 10, 2009 07:03AM Kaufman Bros. Reiterates 'Focus List Pick' on priceline.com (PCLN); Raises Estimates & Price Target
Nov 10, 2009 07:02AM Goldman Sachs Added Kroger (KR) to the Conviction Buy List, Citing "Reflation"
Nov 10, 2009 06:58AM Piper Jaffray Reiterates an 'Overweight' on Duoyuan Global Water (DGW), Price Target and Estimates Increased
Nov 9, 2009 06:16PM Moody's Suggests AIG (AIG) Could Repay the U.S.
Nov 9, 2009 02:34PM Enterprise Tech Rebound Is Real - Analyst (HPQ, NTAP, STX, ARW)
Nov 9, 2009 12:34PM Credit Suisse Boosts Price Target on HP (HPQ) to $60
Nov 9, 2009 12:28PM Consensus Forms That Despite Tremendous YTD Move, Ford (F) Is Still Undervalued
Nov 9, 2009 11:43AM Goldman Sachs Adds Smith & Nephew (SNN) To Their Conviction Buy List
Nov 9, 2009 10:51AM Capital One Southcoast Maintains an 'Add' Rating on Concho Resources (CXO); Raises PT
Nov 9, 2009 10:48AM Capital One Southcoast Maintains a 'Neutral on Atlas Energy (ATLS); Watch For Well Results and Potential JVs
Nov 9, 2009 10:42AM Capital One Southcoast Reiterates a 'Neutral' on Natural Gas Services Group (NGS); Slightly Adjusts Estimates
Nov 9, 2009 10:37AM Capital One Southcoast Reiterates a 'Neutral' rating on Dril-Quip (DRQ); Adjusts PT & Estimates
Nov 9, 2009 10:34AM Capital One Southcoast Reiterates a 'Neutral' on Geokinetics (GOK); Lowers PT & Estimates
Nov 9, 2009 09:01AM RadioShack (RSH) iPhone News is a Game-Changer
Nov 9, 2009 08:54AM Wedbush Reiterates an 'Outperform' on Biodel (BIOD); Comments on VIAjectT
Nov 9, 2009 08:51AM Wedbush Maintains a 'Neutral' on Polypore International (PPO); Lowers PT
Nov 9, 2009 08:45AM Wedbush Maintains a 'Neutral' on Ascent Solar Technologies (ASTI); Lowers Estimates & PT
Nov 9, 2009 08:43AM Wedbush Maintains a 'Neutral' on Blockbuster (BBI); Expect In-Line Results and Continued Focus on Profitability
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