Advanced Auto Parts Inc. (NYSE: AAP) Raised to Buy at Goldman Sachs.
AutoZone, Inc. (NYSE: AZO) Raised to Buy at Goldman Sachs.
Bank of America Corporation (NYSE: BAC) Cut to Neutral at Goldman Sachs.
Citigroup , Inc. (NYSE: C) Raised to Buy at Goldman Sachs.
HollyFrontier Corporation (NYSE: HFC) Cut to Neutral with $27 target at Citigroup.
ImmunoGen Inc. (NASDAQ: IMGN) Reiterated Buy with $17 target at Canaccord Genuity.
JAKKS Pacific (NASDAQ: JAKK) Cut to Underperform as Bear of the Day at Zacks.
J.P. Morgan Chase & Co. (NYSE: JPM) Maintained Buy but removed from Conviction Buy List at Goldman Sachs.
Kellogg Co. (NYSE: K) Cut to Neutral at JPMorgan.
Key Energy Services (NYSE: KEG) Maintained Buy but raised estimates ($19 target) at Canaccord Genuity.
Methanex Corporation (NASDAQ: MEOH) named as Value stock of the day at Zacks.
Monster Beverage Corporation (NASDAQ: MNST) Cut to Neutral at SunTrust.
Morgan Stanley (NYSE: MS)  Raised to Conviction Buy list at Goldman Sachs.
Mylan, Inc. (NASDAQ: MYL) Raised to Outperform as Bull of the Day at Zacks.
Staples Inc. (NASDAQ: SPLS) Cut to Sell at Goldman Sachs.
Time Warner Inc. (NYSE: TWX) Cut to Equal-Weight at Barclays.
Whole Foods Market. Inc. (NASDAQ: WFM) Maintained Buy but removed from Conviction BUy List at Goldman Sachs.

This is overseas, but BofA has downgraded Societe Generale and BNP Paribas to Neutral from Buy this morning.

Here were the top analyst calls of the last week condensed into one short piece.

If you enjoyed the top analyst calls, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We include major analyst upgrades and downgrades, IPO and M&A news, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

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JON C. OGG

Apple Inc. (NASDAQ: AAPL) hit a new high this morning ahead of next week’s earnings.  The new value is almost at $400 billion.  The new high is $428.50 for now and the consensus price target from Thomson Reuters is now above $509.00.

Dollar Tree, Inc. (NASDAQ: DLTR) is continuing with the trade-down economy and the secular growth of the dollar store (actually sub-$10) stores.  The new high is $85.58 and the consensus price target is $86.27 from Thomson Reuters.  Dollar Tree is now worth more than $10 billion in market capitalization.

Ecolab Inc. (NYSE: ECL) is worth almost $14 billion now, and the new high today of $60.45 compares to a Thomson Reuters consensus price target of $61.56.

Read Also: Top 2012 Stock Picks From Major Gurus

McDonald’s Corporation (NYSE: MCD) gave solid same-store sales forecast and recently juiced up its dividend.  The new high is $101.87 and the market cap is nearing $104 billion.

Monster Beverage Corporation (NASDAQ: MNST) recently announced a stock split and shares hit a new high this morning but have promptly backed off by close to 2%.  The new high is $101.67 and the consensus analyst target is close to $105.00.  It is hard to imagine, but Monster now has a market value of almost $8.7 billion.

Nike Inc. (NYSE: NKE) keeps doing it.  A new high of $100.75 was put in today after a prior 52-week high of $99.44.  Its market value now eclipses $46 billion.

Panera Bread Company (NASDAQ: PNRA) is up at stratosphere levels now for its healthier sandwich and destination approach.  The new high is $151.93 and the consensus price target from Thomson Reuters is $146.68.  Its market cap is now almost $4.5 billion.

Read Also: DJIA Projected 12% Gains to 13,678 in 2012

Starbucks Corporation (NASDAQ: SBUX) has proven us very wrong on how high the valuation can go back up to.  The new high is $48.15 and the consensus price target from Thomson Reuters is just under $48.00 and the market cap is now more than $35 billion.

Advance Auto Parts Inc. (NYSE: AAP) worth over $5 billion, AutoZone, Inc. (NYSE: AZO) worth over $13 billion, and O’Reilly Automotive, Inc. (NASDAQ: ORLY) worth over $10 billion… These all hit record high prices in their stocks on Wednesday. With a record age car fleet in America of more than 10 years, car parts stores and suppliers sure are going to have a lot of car owners to sell parts to that are long past the warranty and insurance coverage.

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JON C. OGG

Reuters:   Kraft (KFT) will launch a hostile bid for Cadbury.

Reuters:   The World Bank said not to take the dollar’s role in the global economy for granted.

Reuters:   Crucell got a $302 million investment from J&J (JNJ)

Reuters:   The Fed will work with Congress on naming its borrowers.

WSJ:   The White House is close to providing $35 billion to help housing agencies provide more mortgages.

WSJ:   Profits for the third quarter are likely to beat estimates.

WSJ:   World Bank President Robert Zoellick said the Treasury and not the Fed should be given more regulatory power

WSJ:   HSN will begin to sell ads.

WSJ:   The lack of a recovery at Hovnaian (HOV) is a drag on housing.

WSJ:   The IMF said its battled the credit crisis well.

WSJ:   China will probe chicken imports from the US.

WSJ:   Businesses open for less than 90 days accounted for 14% of hiring from 1993 to 2008, but start-ups are way down this year, and are likely to stay down.

WSJ:   More corporations are facing the fact that directors did not get majority votes.

WSJ:   Monster’s (MNST) stock may be poised for a run.

WSJ:   Federal health clinics are seeing a surge in visitors.

WSJ:   States may be deprived of $9 billion in highway funds.

WSJ:   The Commerce Department released standards for the smart grid which may help drive building.

NYT:   Sinochem has made a $2.5 billion bid for Nufarm, an Australian chemical company.

NYT:   A trustee will sue more members of the Madoff family.

NYT:   GlobalPost, which has correspondents worldwide, will get paid by CBS (CBS) in a new partnership.

NYT:   Sprint (S) is betting on WiMax to bring back market share.

NYT:   Overseas affiliates are helping CNBC make money.

FT:   US banks may face short-term lending rules to gauge risk to sharp market moves.

FT:   The value of toxic assets is improving which will help banks increase the value of the paper.

FT:   Goldman Sachs (GS) is pushing to increase the number of workers at its asset management arm.

FT:   Moody’s (MCO) was hit by a wave of short selling.

Douglas A. McIntyre

Reuters:   A report blamed the SEC for not doing its job investigating Madoff.

Reuters:   The Fed says the risks to the American economy have dropped.

Reuters:   A Pfizer (PFE) whistleblower made more than $51 million.

Reuters:   YouTube (GOOG) may stream movie rentals from major studios.

Reuters:   Morgan Stanley (MS), Moody’s (MCO), and S&P (MHP) must defend fraud claims involving subprime mortgages.

Reuters:   AIG (AIG) board members are concerned about its CEO’s comments to the media.

Reuters:   BP (BP) made a huge crude discovery in the Gulf of Mexico.

Reuters:   Cerberus will ban withdrawals from its new fund.

Reuters:   Berkshire Hathaway (BRK.A) and Leucadia National (LUK) will buy Capmark Financial Group’s mortgage operations.

WSJ:   Brazilian beef giant JBS is negotiating a $2.5 billion deal for Pilgrim’s Pride.

WSJ:   The WTO is expected to rule that European governments illegally aided Airbus.

WSJ:  ”Treasury backed away from a standoff over the independence of the watchdog appointed to scrutinize how last year’s $700 billion financial bailout is being spent.”

WSJ:   The pace of monthly job losses is slowing.

WSJ:   The CFTC and SEC are seeking common ground

WSJ:   GM believe that Opel will get aid from three countries in Europe.

WSJ:   Cisco (CSCO) and EMC (EMC) may form a joint venture capital unit.

WSJ:   Amazon (AMZN) has criticized a legal settlement between Google (GOOG) and book publishers.

WSJ:   Nokia (NOK) will sell a premium-priced netbook.

WSJ:   The WTO will hand Boeing (BA) a win over Airbus.

WSJ:   The former president of Monster (MNST) was sentenced to prison for fraud.

WSJ:   The recovery in housing will be uneven.

WSJ:   Diane Sawyer will succeed Charles Gibson as anchor of ABC News (DIS).

WSJ:   Las Vegas Sands (LVS) raised new capital to help its troubled balance sheet.

WSJ:   GM expects 40% growth in China this year.

WSJ:   Wal-Mart (WMT) will pay some workers with debit cards.

NYT:   Customers of AT&T (T) are angry over the effect the Apple (AAPL) iPhone has on the telecom company’s  network.

NYT:   As older Americans keep jobs, jobs for the young are harder to find.

NYT:   The Administration is proposing larger reserves for banks, which will hurt profits.

FT:   Twenty percent of US shoppers are using coupons.

Bloomberg:   Sony’s (SNE) music player outsold the Apple (AAPL) iPod in Japan last month.

Douglas A. McIntyre

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Reuters:   Wall St. firms have made $1 billion on the break up of AIG (AIG). Morgan Stanley(MS), Goldman Sachs (GS), JP Morgan (JPM) and Blackstone (BX) could get large fees.

Reuters:   A judge would not approve an SEC settlement with Bank of America (BAC)

Reuters:   The Administration is considering splitting Fannie Mae (FNM) and Freddie Mac (FRE).

Reuters:   The SEC plans a new enforcement unit.

Reuters:   Cisco (CSCO) was cautious about its recovery prospects.

Reuters:   News Corp (NWS) said it would charge for its news sites and expressed displeasure with the Amazon (AMZN) Kindle and its relationship with newspapers.

Reuters:   Monster’s (MNST) only jobs index fell in July.

Reuters:   Las Vegas Sands (LVS) and Wynn (WYNN) IPOs are seen as doing well.

WSJ:   P&G (PG) is creating cheaper detergent to fight the downturn.

WSJ:   Bank of America (BAC) did not disclose $2 billion in Merrill losses just before the deal was approved.

WSJ:   Jobs losses are still hindering the recovery.

WSJ:   The CEO of American Express (AXP) is still concerned about the recovery.

WSJ:   Deutsche Telekom (DT) results were in line with expectations.

WSJ:   Prudential Financial (PRU) ended a string of quarterly losses.

WSJ:   The government says GM will go public before Chrysler.

WSJ:   Google (GOOG) set a deal to buy video compression firm On2 (ONT).

WSJ:   Vonage (VG) posted another deficit.

WSJ:   The Fed may work to extend programs for consumer and business lending.

WSJ:   The Treasury will sell more inflation-adjusted bonds to encourage China purchases.

WSJ:   The CFTC appears ready to impose limits on energy trading.

NYT:   Geithner says small disagreements between regulators should not halt reform.

NYT:   Goldman Sachs (GS) officials are defiant about the firm’s profits.

NYT:   The Administration will provide $2.4 billion for battery development, mostly for electric cars.

NYT:   Toyota (TM) plans a US sports car.

FT:   The SEC is seeking funds for complex investigations.

FT:   Goldman Sachs (GS) has 46 trading days of over $100 million in the last quarter.

FT   Google (GOOG) is set to take on Apple (AAPL) in the China cell phone market.

FT:   China has suffered its largest bank fraud.

Bloomberg:   Hank Greenberg may face SEC charges involving his role at AIG (AIG).

Bloomberg:   The former head of American Express (AXP) may become chairman of AIG.

Douglas A. McIntyre is the former chairman and CEO of On2 Technologies (ONT)

• Central Garden & Pet (CENT) Cut to Underperform at Jefferies.
• Helen of Troy (HELE) Cut to Hold at Jefferies.
• Intel (INTC) Cut to Neutral at Goldman Sachs.
• Libbey (LBY) Cut to Underperform at Jefferies.
• MetLife (MET) Cut to Neutral at Goldman Sachs.
• Monster Worldwide (MNST) Cut to Hold at Citigroup.
• Pozen (POZN) Cut to Hold at Citigroup, Cut to Underperform at Jefferies.
• Prudential Financial (PRU) Cut to Sell at Goldman Sachs.

Jon C. Ogg
October 20, 2008

• First Mercury (FMR) Cut to Neutral at JPMorgan.
• GOL Linhas Areas Inteligentes S.A. (GOL) Cut to Underweight at JPMorgan.
• Hansen Medical (HNSN) Cut to Neutral at Merriman Curhan Ford.
• ImClone (IMCL) Cut to Hold at Citigroup.
• Monster Worldwide (MNST) Cut to Neutral at JPMorgan.
• Osiris Therapeutics (OSIR) Cut to Underperform at Jefferies.
• Wyeth (WYE) Cut to Neutral at HSBC.

Jon C. Ogg
August 1, 2008

AAR Corp. (NYSE: AIR) hit a new low today on no direct news from a 52-week range of $22.06 to $39.42.  Shares were down over 7% late in the day at $20.91.  Hmm.. products, services, and maintenance to the airlines.  Go figure.

Aventine Renewable Energy Holdings, Inc (NYSE: AVR) down to a new low despite an upgrade by Broadpoint Capital. Ethanol stocks have dipped this month after a report that corn-supplies will be tight this year. Hit a new low of $4.22 late in the day from a 52-week range of $4.39 to $20.85.

Cheniere Energy Inc. (AMEX: LNG) down today on a downgrade by Lehman Brothers yesterday, despite announcements that its LNG terminal in Louisiana will begin to receive shipments on August 12. Shares down over $2.00 to new low of $16.17 off a 52-week range of $18.40 to $43.50.  This huge drop almost seems counterintuitive with sub-projects coming online and with energy prices in the stratosphere, but that downgrade from Lehman yesterday is ruling the roost.

Clorox Co. (NYSE: CLX) down to lowest points since 2004. Thursday, a Bernstein analyst estimated that third-quarter earnings could be lower than previously expected. Shares hit as low as $55.16 earlier today on a 52-week range of $55.37 to $69.36.  Maybe the public realized how bad bleach is for the water supply.

Cintas Corp. (NASDAQ: CTAS) dropped to a new low after a downgrade by Lehman Brothers. Shares hit a new low of $27.35 before recovering late in the day on a 52-week range of $27.41 to $41.04.  Uniform sales… what gets cut as employees get fired and as businesses trim expenses? Oh yeah, uniforms.

Dell Inc. (NASDAQ: DELL) fell along with the market today with the other computer companies. They just happened to hit a new low. They dropped to $18.44 on a 52-week range of $18.53 to $ 30.77.  The good news is that late in the day shares were back above the prior low.  The bad news is that nothing is going its direction.

Ixia (NASDAQ: XXIA) taking a hit from downgrades by JMP Securities and Ferris Baker Watts. They also cut their own guidance for first quarter estimates. It hit a new low of $6.30 off a 52-week range of $6.51 to $10.70.

LodgeNet Interactive Corporation (NASDAQ: LNET) down to a new low of $5.70 today. Apparently good hospitality isn’t enough keep the shareholders comfortable. The 52-week range is $5.90 to $38.11.  As people cut back, maybe those in-hotel movies are easier to cut spending on.

Monster Worldwide, Inc. (NASDAQ: MNST) hit a new low today with a 52-week range of $23.00 to $50.28. It shouldn’t be out of a job anytime soon but if it is, it will know where to look.  Shares down almost 4% at $22.20 late in the day.

Pinnacle Airlines Corp. (NASDAQ: PNCL) taking a hit in the wake of Frontier Airlines bankruptcy scare. Hit a new low of $8.22 on a 52-week range of $8.43 to $20.34.  Stock edged back above that $8.50 level in last 20 minutes today.

Smurfit-Stone Container Corp. (NASDAQ: SSCC) dipped to a new low off a 52-week range of $6.65 to $14.08.  Shares were at $6.35 in the last 20 minutes today, down almost 8%.  paperboard and packaging… what gets cut when stuff stops selling stores?  Oh yeah, the packaging.

Jon C. Ogg
April 11, 2008

The banks walked on the market when its was clear that their balance sheets had been torn to pieces. In the auction-rate world they would take any imbalances in an auction onto their books and clear out the securities at the next round of bidding. They acted, in essence, like specialists at the NYSE do. They kept the market orderly.

Now, some large companies, especially in the tech sector, are facing write-offs because they took the paper on their balance sheets and treated it as cash. Auditors are looked at those securities and saying that, because they illiquid, they should be written down. That, in turn, hits their P&Ls.

According to The Wall Street Journal, Monster (MNST) has $357 million of auction-rate securities on its books. Troubled tech firm Palm (PALM) has almost $75 million. For some of these companies, the figure may be a large part of their cash positions. Funding deficits or capex may become a major challenge.

The tech companies are only the beginning. It is safe to say that scores of public companies have auction-rate paper. It was an easy way to get higher yields than with government paper and allowed for almost instant access to capital.

As is almost always true in corporate America, someone is at fault, or, at least must be blamed in public. The banks and brokerages who ran the auction-rate market are clearly the target. And, perhaps they should be, especially if they represented that the market they created and ran was something that it was not.

Douglas A. McIntyre

As a reminder, the 52-week low list is where many fund managers and traders go looking for opportunities.  Sometimes the baby is thrown out with the bathwater, and sometimes they throw out the whole house and family with it.

Jon C. Ogg
March 19, 2008