StreetInsider.com Notable Analyst Rating Changes: 09/04
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Notable Analyst Rating Changes:
UPGRADES:
Deutsche Bank upgrades Tyco International (NYSE: TYC) from Hold to Buy, saying they see 20% upside potential following a period of under-performance.
UBS upgrades Kansas City Southern (NYSE: KSU) from Neutral to Buy with a $40 price target.
Piper Jaffray upgrades Hoku Scientific, Inc. (Nasdaq: HOKU) from Underperform to Market Perform and raises their price target from $8 to $10. The firm cited it $45M letter of credit with Suntech among other things.
Cowen upgrades American Eagle (NYSE: AEO) from Neutral to Outperform
DOWNGRADES:
Bear Stearns downgrades Research In Motion (Nasdaq: RIMM) from Outperform to Peer Perform, citing valuation and concerns about demand in financial and enterprise sales.
UBS downgrades Monster Worldwide (Nasdaq: MNST) from Buy to Neutral and lowers their price target to $36.
Goldman Sachs downgrades Bristol-Myers (NYSE: BMY) from Neutral to Sell.
Merrill Lynch downgrades Manpower (NYSE: MAN) from Buy to Neutral
NEW COVERAGE:
KeyBanc initiates coverage on Life Time Fitness (NYSE: LTM) with a Buy. Price target $65. The firm cites, "best-in-class operator within the fitness club industry and is well positioned to achieve annualized revenue and earnings growth of at least 25% over the next several years."
Brean Murray initiates coverage on Universal Display Corp. (Nasdaq: PANL) with a Buy rating and $20 price target, saying the company is a leading developer of organic light emitting diode (OLED) technology.
A number of firms started coverage on recent IPO Monotype Imaging (Nasdaq: TYPE): Banc of America starts at Buy with a $15 target; Jefferies starts at Buy with a $14.50 target; Needham starts at Buy with a $14 target; William Blair starts at Outperform
A number of firms started coverage on recent IPO BladeLogic (Nasdaq: BLOG): Citigroup starts at Hold; Cowen starts at Outperform; Wachovia starts at Outperform with a $31.50 target; Morgan Stanley starts at Equal Weight.
UPGRADES:
Deutsche Bank upgrades Tyco International (NYSE: TYC) from Hold to Buy, saying they see 20% upside potential following a period of under-performance.
UBS upgrades Kansas City Southern (NYSE: KSU) from Neutral to Buy with a $40 price target.
Piper Jaffray upgrades Hoku Scientific, Inc. (Nasdaq: HOKU) from Underperform to Market Perform and raises their price target from $8 to $10. The firm cited it $45M letter of credit with Suntech among other things.
Cowen upgrades American Eagle (NYSE: AEO) from Neutral to Outperform
DOWNGRADES:
Bear Stearns downgrades Research In Motion (Nasdaq: RIMM) from Outperform to Peer Perform, citing valuation and concerns about demand in financial and enterprise sales.
UBS downgrades Monster Worldwide (Nasdaq: MNST) from Buy to Neutral and lowers their price target to $36.
Goldman Sachs downgrades Bristol-Myers (NYSE: BMY) from Neutral to Sell.
Merrill Lynch downgrades Manpower (NYSE: MAN) from Buy to Neutral
NEW COVERAGE:
KeyBanc initiates coverage on Life Time Fitness (NYSE: LTM) with a Buy. Price target $65. The firm cites, "best-in-class operator within the fitness club industry and is well positioned to achieve annualized revenue and earnings growth of at least 25% over the next several years."
Brean Murray initiates coverage on Universal Display Corp. (Nasdaq: PANL) with a Buy rating and $20 price target, saying the company is a leading developer of organic light emitting diode (OLED) technology.
A number of firms started coverage on recent IPO Monotype Imaging (Nasdaq: TYPE): Banc of America starts at Buy with a $15 target; Jefferies starts at Buy with a $14.50 target; Needham starts at Buy with a $14 target; William Blair starts at Outperform
A number of firms started coverage on recent IPO BladeLogic (Nasdaq: BLOG): Citigroup starts at Hold; Cowen starts at Outperform; Wachovia starts at Outperform with a $31.50 target; Morgan Stanley starts at Equal Weight.
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