Notable Analyst Rating Changes 8/11: FLR, SATS, DEO, QLGC, BEXP Upgraded; YUM, MBI, S Downgraded
UPGRADES:
Wunderlich Securities upgrades Flour (NYSE: FLR) from Hold to Buy and raises their price target from $49 to $65. The firm commented, We believe Fluor is well positioned globally to take advantage of longer-term spending trends, but had concerns that nearer-term backlog erosion would be significant in this economic environment.
Citigroup upgrades EchoStar (Nasdaq: SATS) from Sell to Buy and raises thier price target from $13.50 to $21.
Deutsche Bank upgrades Diageo (NYSE: DEO) from Hold to Buy, saying it is best placed to take advantage of of changing industry conditions and has an attractive valuation at 12.9x P/E.
RBC Capital upgrades QLogic (Nasdaq: QLGC) from Sector Perform to Outperform with a $17 price target.
Thomas Weisel upgrades Brigham Exploration Company (Nasdaq: BEXP) from Marketweight to Overweight. Priced target increased from $6 to $9.
For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades
DOWNGRADES:
UBS downgrades Yum! Brands (NYSE: YUM) from Buy to Neutral with a $28 price target.
JP Morgan downgrades MBIA (NYSE: MBI) from Neutral to Underweight, citing earnings quality and more potential losses.
Piper Jaffray downgrades Sprint Nextel (NYSE: S) from Neutral to Underweight and cut their price target from $5 to $3.50. The firm also cut 2009 and 2010 estimates. Here is the full report.
For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades
NEW COVERAGE:
Deutsche Bank starts Krogers (NYSE: KR) at Buy, Safeway (NYSE: SWY) at Buy, Whole Foods Market (Nasdaq: WFMI) at Hold and SUPERVALU (NYSE: SVU) at Hold.
RBC Capital initiates coverage on Amgen (Nasdaq: AMGN) with a Outperform rating and $72 price target.
Wedbush Morgan initiates coverage on SanDisk (Nasdaq: SNDK) with a Neutral rating. Price target $20. Here is more color on the coverage.
For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage
Wunderlich Securities upgrades Flour (NYSE: FLR) from Hold to Buy and raises their price target from $49 to $65. The firm commented, We believe Fluor is well positioned globally to take advantage of longer-term spending trends, but had concerns that nearer-term backlog erosion would be significant in this economic environment.
Citigroup upgrades EchoStar (Nasdaq: SATS) from Sell to Buy and raises thier price target from $13.50 to $21.
Deutsche Bank upgrades Diageo (NYSE: DEO) from Hold to Buy, saying it is best placed to take advantage of of changing industry conditions and has an attractive valuation at 12.9x P/E.
RBC Capital upgrades QLogic (Nasdaq: QLGC) from Sector Perform to Outperform with a $17 price target.
Thomas Weisel upgrades Brigham Exploration Company (Nasdaq: BEXP) from Marketweight to Overweight. Priced target increased from $6 to $9.
For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades
DOWNGRADES:
UBS downgrades Yum! Brands (NYSE: YUM) from Buy to Neutral with a $28 price target.
JP Morgan downgrades MBIA (NYSE: MBI) from Neutral to Underweight, citing earnings quality and more potential losses.
Piper Jaffray downgrades Sprint Nextel (NYSE: S) from Neutral to Underweight and cut their price target from $5 to $3.50. The firm also cut 2009 and 2010 estimates. Here is the full report.
For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades
NEW COVERAGE:
Deutsche Bank starts Krogers (NYSE: KR) at Buy, Safeway (NYSE: SWY) at Buy, Whole Foods Market (Nasdaq: WFMI) at Hold and SUPERVALU (NYSE: SVU) at Hold.
RBC Capital initiates coverage on Amgen (Nasdaq: AMGN) with a Outperform rating and $72 price target.
Wedbush Morgan initiates coverage on SanDisk (Nasdaq: SNDK) with a Neutral rating. Price target $20. Here is more color on the coverage.
For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage
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