Notable Analyst Rating Changes 8/3: MMM, WEN, GPS, BIDU, JCP, OWW, NDAQ Upgraded; HURN, ANN, E, ROST Downgraded

August 3, 2009 10:21 AM EDT

UPGRADES:
Goldman Sachs upgraded 3M Co. (NYSE: MMM) from Neutral to Buy and raised its price target from $78 to $85, saying a higher valuation is justified because of the attractive early/short-cycle exposure, possible upward revisions to EPS, best balance sheet in coverage group, and the potential for better organic growth this cycle.

UBS upgrades Wendy's (NYSE: WEN) from Neutral to Buy with a $5.50 price target.

Barclays upgrades The Gap (NYSE: GPS) from Equalweight to Overweight. Price target increased from $18 to $21.

UBS upgrades Baidu, Inc. (Nasdaq: BIDU) from Sell to Neutral.

Thomas Weisel upgrades J.C. Penney (NYSE: JCP) from Underweight to Marketweight. Price target increased from $19 to $28.

Benchmark upgrades Orbitz (NYSE: OWW) from Hold to Buy and price target from $2 to $4. Click here to see full color on the upgrade.

Pali Research upgrades Nasdaq OMX Group (Nasdaq: NDAQ) from Sell to Neutral. Here is the full report.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES:
Deutsche Bank, Baird, SunTrust and Oppenheimer all downgrade Huron Consulting Group (Nasdaq: HURN).

Goldman Sachs downgrades Regions Financial Corp. (NYSE: RF) from Buy to Neutral. The firm said since their June 11 upgrade, credit has become worse and the stock price slightly higher. The firm said Regions' credit quality disappointed in Q2 and they said improvement may come in the shape of an 'L' rather than a 'V'.

Cowen downgrades Ann Taylor (NYSE: ANN) from Neutral to Underperform.

Natixis Bleichroeder, Credit Suisse and Deutsche Bank downgrade Eni (NYSE: E).

Barclays downgrades Ross Stores (Nasdaq: ROST) from Overweight to Equalweight.

For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades

NEW COVERAGE:
Jefferies & Co initiates coverage on Medidata Solutions (Nasdaq: MDSO) with a Buy. Price target $22.

Merriman Curhan Ford initiates coverage on Helix Biopharma Cp (OTC: HXBPF) with a Buy rating. Click here for the full report.

For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage


Related Categories

Special Reports

Stocks Mentioned

ANN 14.83

+0.63 +4.44%
Volume: 2,405,617
Track ANN

BIDU 442.18

+6.64 +1.52%
Volume: 1,225,112
Track BIDU

E 51.71

+0.83 +1.63%
Volume: 1,346,599
Track E

GPS 22.42

+0.33 +1.49%
Volume: 8,560,482
Track GPS

HURN 23.69

-0.21 -0.88%
Volume: 155,557
Track HURN

HXBPF 2.44

+0.23 +10.41%
Volume: 1,500
Track HXBPF

JCP 30.64

+1.41 +4.82%
Volume: 6,275,373
Track JCP

MDSO 17.24

-0.06 -0.35%
Volume: 34,507
Track MDSO

MMM 77.91

+0.30 +0.39%
Volume: 1,939,215
Track MMM

NDAQ 19.78

-0.08 -0.40%
Volume: 2,845,343
Track NDAQ

OWW 6.04

+0.05 +0.83%
Volume: 184,868
Track OWW

RF 5.80

+0.06 +1.05%
Volume: 19,398,747
Track RF

ROST 44.92

+0.64 +1.45%
Volume: 1,526,919
Track ROST

WEN 4.16

+0.03 +0.73%
Volume: 2,264,761
Track WEN


Related Entities


Add Your Comment