StreetInsider.com Notable Analyst Rating Changes 09/28
Notable Analyst Rating Changes:
UPGRADES:
Merrill Lynch upgrades Target (NYSE: TGT) from Neutral to Buy with a $77 price target, citing likelihood the company will sell its credit-card portfolio.
Goldman Sachs upgrades Packaging Corp. of America (NYSE: PKG) from Neutral to Buy and adds the stock to their Conviction Buy list.
Deutsche Bank upgrades Luminent Mortgage (NYSE: LUM) from Sell to Hold, but reduces their price target from $3 to $1.50. The firm said, "we believe the portfolio is stabilizing and shares are appropriately valued given the current environment."
For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades
DOWNGRADES:
Citigroup downgrades Chipotle Mexican Grill Inc (NYSE: CMG) from Buy to Hold with a $120 price target. The firm cited, "recent strong performance and given valuation that appears full, in our view. We continue to believe underlying fundamentals remain strong, however."
Merrill Lynch downgrades Vertex Pharmaceuticals (Nasdaq: VRTX) from Buy to Neutral
Goldman Sachs downgrades MeadWestvaco (NYSE: MWV) from Buy to Neutral
For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades
NEW COVERAGE:
Citigroup initiates coverage on BioMarin Pharmaceutical Inc (Nasdaq: BMRN) with a Buy rating and $30 price target. The firm said, "Besides strong growth from both Aldurazyme and Naglazyme, we believe Kuvan will demonstrate a robust market launch."
JP Morgan initiates coverage on Carrols Restaurant (Nasdaq: TAST) with an Overweight rating.
Goldman Sachs downgrades MeadWestvaco (NYSE: MWV) from Buy to Neutral
For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage
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