StreetInsider.com Notable Analyst Rating Changes 11/01
Notable Analyst Rating Changes:
UPGRADES:
Thomas Weisel upgrades Macy's, Inc. (NYSE: M) from Market Weight to Overweight, saying strong free cash flow supports stock buybacks.
Stifel, Nicolaus upgrades Community Health Systems (NYSE: CYH) from Hold to Buy with a $39 price target. The firm said it can see a better outlook due to management being confident that it can meet its announced guidance.
Bear Stearns upgrades China Life Insurance Company Ltd. (NYSE: LFC) from Underperform to Peer Perform.
For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades
DOWNGRADES:
Bear Stearns downgrades MasterCard (NYSE: MA) from Outperform to Peer Perform. Shares of MasterCard surged nearly $33 points, or 21%, yesterday, following strong third quarter results.
Merrilll Lynch downgrades Garmin Ltd. (NASDAQ: GRMN) from Neutral to Sell.
CIBC downgrades Citigroup (NYSE: C) from Sector Perform to Sector Underperform. The firm expects the company to sell assets, raise capital or cut its dividend to shore up its capital ratios.
For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades
NEW COVERAGE:
Caris initiates coverage on athenahealth, Inc. (Nasdaq: ATHN) with an Average rating and $26 price target.
UBS resumes coverage on CVS (NYSE: CVS) with a Buy rating and $50 price target. Also, the firm resumes coverage on Rite Aid (NYSE: RAD) and Walgreen (NYSE: WAG) with Neutral ratings.
For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage
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