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Top Analyst Upgrades & Downgrades (CCL, CHK, LNG, CQP, CREE, EXPE, FTE, GOOG, JNS, KR, MGM, ODP, OMX, PVH, RL, TEF, TXT)

Administrator — Wed, 18 Jan 2012 13:28:25 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Wednesday morning.

Carnival Corp. (NYSE: CCL) Maintained Hold but cut estimates at Argus.
Chesapeake Energy Corporation (NYSE: CHK) Cut to Hold at Brean Murray.
Cheniere Energy Inc. (NYSE: LNG) Started as Outperform with $13.50 target at Credit Suisse
Cheniere Energy Partners, LP (NYSE: CQP) Started as Neutral with $20 target at Credit Suisse.
Cree Inc. (NASDAQ: CREE) maintained Buy with $33 target at Canaccord Genuity; Raised to Buy at ThinkEquity; Cut to Neutral at Ticonderoga.
Expedia, Inc. (NASDAQ: EXPE) Started as Underweight at JPMorgan.
France Telecom S.A. (NYSE: FTE) Cut to Sell at Deutsche Bank.
Google Inc. (NASDAQ: GOOG) Cut to Market Perform from Outperform at Wells Fargo.
Janus Capital Group, Inc. (NYSE: JNS) Cut to Sell at Citigroup.
The Kroger Co. (NYSE: KR) Cut to Market Perform at BMO Capital.
MGM Resorts International (NYSE: MGM) Raised to Neutral at Credit Suisse.
Office Depot, Inc. (NYSE: ODP) Raised to Equal-weight at Barclays.
OfficeMax Inc. (NYSE: OMX) Raised to Equal-weight at Barclays.
PVH Corporation (NYSE: PVH) Started as Neutral with $72 target at Credit Suisse.
Ralph Lauren Corporation (NYSE: RL) Started as Outperform with $168 target at Credit Suisse.
Telefonica SA (NYSE: TEF) Cut to Sell at UBS.
Textron Inc. (NYSE: TXT) Cut to Neutral at JPMorgan.

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.

JON C. OGG

Filed under: Analyst Calls Tagged: CCL, CHK, CQP, CREE, EXPE, FTE, GOOG, JNS, KR, LNG, MGM, ODP, OMX, PVH, RL, TEF, TXT

Top Analyst Upgrades & Downgrades (AKAM, GAS, AAPL, ARMH, B, COST, XOM, FR, HTH, IART, IGT, MRK, P, PENN, PVH, RBS, SCCO, THOR)

Administrator — Mon, 09 Jan 2012 13:09:46 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Monday morning.

Akamai Technologies, Inc. (NASDAQ: AKAM) Cut to Sell from Neutral at Citigroup.
AGL Resources Inc. (NYSE: GAS) Started as Underperform and named as Bear of the Day at Zacks.
Apple Inc. (NASDAQ: AAPL) Reiterated Buy with $460.00 price target objective by Argus; maintained Conviction Buy List and target raised to $550 from $520 at Goldman Sachs.
ARM Holdings PLC (NASDAQ: ARMH) Started as Underperform at Bernstein.
Barnes Group Inc. (NYSE: B) named as value stock of the day at Zacks.
Costco Wholesale Corporation (NASDAQ: COST) Cut to Underperform at Bernstein.
Exxon Mobil Corporation (NYSE: XOM) Reiterated Buy at Goldman Sachs.
First Industrial Realty Trust (NYSE: FR) Cut to Neutral at Credit Suisse.
Hilltop Holdings, Inc. (NYSE: HTH) Raised to Outperform as Bull of the Day at Zacks.
Integra LifeSciences Holdings Corp. (NASDAQ: IART) Cut to Hold at Argus.
International Game Technology (NYSE: IGT) Removed from US Focus List at Credit Suisse.
Merck & Co. Inc. (NYSE: MRK) Downgraded to Hold at Jefferies.
Pandora Media Inc. (NYSE: P) Started as Buy at Needham.
Penn National Gaming Inc. (NASDAQ: PENN) Added to the US Focus List at Credit Suisse.
PVH Corporation (NYSE: PVH) Started as Buy at Stern Agee.
The Royal Bank of Scotland Group plc (NYSE: RBS) Raised to Neutral at JPMorgan.
Southern Copper Corporation (NYSE: SCCO) Cut to Hold at Deutsche Bank.
Thoratec Corporation (NASDAQ: THOR) Cut to Market Perform at Wells Fargo.

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

JON C. OGG

Filed under: Analyst Calls Tagged: AAPL, AKAM, ARMH, B, COST, FR, gas, HTH, IART, IGT, MRK, P, PENN, PVH, RBS, SCCO, THOR, XOM

Top Analyst Upgrades & Downgrades (BIDU, CYOU, CLB, CSX, EBAY, HLF, M, MON, PVH, PLCM, REG, WDC, WU, WYNN, YOKU)

Administrator — Thu, 20 Oct 2011 12:28:15 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Thursday morning.

Baidu, Inc. (NASDAQ: BIDU) Cut to Neutral at Goldman Sachs.
Changyou.com Limited (NASDAQ: CYOU) Raised to Buy at Goldman Sachs.
Core Laboratories N.V. (NYSE: CLB) Cut to Market Perform at FBR.
CSX Corporation (NYSE: CSX) Cut to Market Perform at Wells Fargo.
eBay Inc. (NASDAQ: EBAY) Maintained long-term outperform and near-term hold at Zacks; reiterated Outperform at Credit Suisse.
Herbalife (HLF: NYSE) Reiterated Buy at Canaccord Genuity.
Macy’s Inc. (NYSE: M) Started as Overweight at JPMorgan.
Monsanto Co. (NYSE: MON) Started as Market Perform at Wells Fargo.
PVH Corp. (NYSE: PVH) named value stock of the day at Zacks.
Polycom, Inc. (NASDAQ: PLCM) Cut to Neutral at Piper Jaffray; Cut to Market Perform at William Blair.
Regency Centers Corporation (NYSE: REG) Raised to Outperform at Credit Suisse.
Western Digital Corporation (NYSE: WDC) Cut to Underweight at JPMorgan.
Western Union (NYSE: WU) Raised to Outperform as Bull of the Day at Zacks.
Wynn Resorts Ltd. (NASDAQ: WYNN) Reiterated Outperform at Credit Suisse.
Youku.com Inc. (NYSE: YOKU) Raised to Conviction Buy List at Goldman Sachs.

JON C. OGG

Filed under: Analyst Calls Tagged: BIDU, CLB, CSX, CYOU, EBAY, HLF, M, MON, PLCM, PVH, REG, WDC, WU, WYNN, YOKU

Deep Value Stocks in Consumer Goods (AVY, BMS, DF, JCI, KFT, LEG, NWL, PVH, RKT, SEE, XRX)

Administrator — Mon, 27 Jun 2011 14:07:56 +0000

24/7 Wall St. has been conducting reviews looking for value stocks now that the market has softened. Looking solely for “cheap stocks” on book value is very incomplete, so we have taken earnings growth, dividends, return on equity, and analyst data to create more of a complete review on these companies. Consumer Goods is perhaps a very broad sector which could easily be broken into many more sub-sectors, but we identified 11 companies with standout price to book values.

In alphabetical order of their ticker symbols: Avery Dennison Corporation (NYSE: AVY); Bemis Company, Inc. (NYSE: BMS); Dean Foods Co. (NYSE: DF); Johnson Controls Inc. (NYSE: JCI); Kraft Foods Inc. (NYSE: KFT); Leggett & Platt, Incorporated (NYSE: LEG); Newell Rubbermaid Inc. (NYSE: NWL); Phillips-Van Heusen Corp. (NYSE: PVH); Rock-Tenn Co. (NYSE: RKT); Sealed Air Corporation (NYSE: SEE); and, Xerox Corp. (NYSE: XRX).

Price to book values range from Xerox’s 1.1 to Johnson Controls’ 2.4. Even though we identified these companies in searching for attractive price to book values, every one of them offers respectable next-year earnings growth. Analysts expect next-year earnings expansion ranging from Newell Rubbermaid’s 10.6% to Rock-Tenn’s 39%. All sport forward PE multiples below 14. Forward PE’s range from Xerox Corp’s 8.1 to Kraft Foods’ 13.9.

Seven of the eleven companies boast an implied upside price expansion exceeding 20%, based on current share prices versus consensus price targets. Leggett & Platt, Newell Rubbermaid, Xerox and Johnson Controls lead the rest with implied price expansions ranging from more than 27% to close to 31%. Each of these eleven companies has an average daily trading volume exceeding 750,000 shares. Except where otherwise noted, the source for all performance and financial data is Finviz.com.

Avery Dennison Corporation (NYSE: AVY) has a price to book value near 2.3 to 1. The company’s market cap is just less than $4 billion giving it a middle-of-the-pack rank among these companies. Its forward PE is about 10.2. With a consensus target price of $46.71, the shares have an implied upside exceeding 25%. Shares of Avery Dennison closed Friday at $37.19, down 1.56%. The 52-week price range is $30.54 to $43.26. This outfit that makes labels and other office products recently took a downgrade to “Neutral” at Bank of America Merrill Lynch. It pays a nice dividend with a yield of close to 2.7% and shares were above $60 back in 2007 before the recession.

Bemis Company, Inc. (NYSE: BMS) has a price to book value of 1.8 to 1. The company’s market cap is just less than $3.4 billion. Its forward PE is near 12.5. With a consensus target price of $34.89, the shares have an implied upside of 8.6% among the lowest of these companies. Bemis Company shares closed Friday at $32.11, down 0.43. The 52-week price range is $25.79 to $33.57. The packaging materials company also has a respectable dividend yield of about 3%, even if Goldman Sachs did downgrade the rating to “Sell” in recent weeks..

Dean Foods Co. (NYSE: DF) boasts a price to book value of 1.4 to 1, ranking it second among these companies. The company’s market cap is $2.2 billion, the smallest of these companies. Its forward PE is near 13.2, among the highest on this list. With a consensus target price of $13.50, the shares have an implied upside 12.5%. In Friday trading Dean Foods closed at $12.00, down 1.80% for the day. The 52-week trading range is $7.13 to $13.90. This milk and dairy producer has been in recovery mode. It made this screen even after a recovery of more than 75% from the bottom. In 2007, shares were worth more than $40.00.

Johnson Controls Inc. (NYSE: JCI) has a price to book value of 2.4 to 1, a comparatively high price to book value ratio among these companies. With a market cap exceeding $26 billion, Johnson Controls is the second largest company ranked here. Its forward PE is a tad greater than 12. After robust expansion of earnings for the current year, analysts expect next-year earnings expansion exceeding 34%. With a consensus target price of $48.50, the shares have an implied upside of 23.8%. Shares of Johnson Controls closed Friday at $39.17, unchanged. The 52-week price range is $25.63 to $42.35. The car parts and systems manufacturer is one of the few which pay a dividend (about 1.6%) and this one has recovered mightily from the recession lows when shares fell to well under $10.00.

Filed under: Compensation, Consumer Goods, Corporate Governance, Dividend, Value Investing Tagged: AVY, BMS, DF, JCI, KFT, LEG, NWL, PVH, RKT, SEE, XRX

Top Analyst Upgrades and Downgrades (AKAM, MT, COP, DYN, EP, GBL, LLNW, MON, PVH, RAX, SLW, CODE, UNH, UNP, WLP)

Administrator — Mon, 15 Nov 2010 13:19:52 +0000

These are some of this Monday’s key analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

Akamai Technologies Inc. (NASDAQ: AKAM) Cut to Perform at Oppenheimer.
ArcelorMittal (NYSE: MT) Cut to Hold at Citigroup.
ConocoPhillips (NYSE: COP) Reiterated Buy and $72 target at Argus.
Dynegy Inc. (NYSE: DYN) Raised to Overweight at JPMorgan.
El Paso Corp. (NYSE: EP) Started as Positive at Susquehanna.
GAMCO Investors, Inc. (NYSE: GBL) Raised to Neutral at BofA/ML.
Limelight Networks, Inc. (NASDAQ: LLNW) Cut to Underperform at Oppenheimer.
Monsanto Co. (NYSE: MON) Cut to Hold at Deutsche Bank.
Phillips-Van Heusen Corp. (NYSE: PVH) Raised to Buy at Citi.
Rackspace Hosting, Inc. (NYSE: RAX) Cut to Equal-weight at Morgan Stanley.
Silver Wheaton Corp. (NYSE: SLW) Maintained Buy but Target Raised to $35 at UBS.
Spansion Inc. (NASDAQ: CODE) Started as Buy and $28 target at Gleacher & Co.
UnitedHealth Group, Inc. (NYSE: UNH) Cut to Hold at Stifel Nicolaus.
Union Pacific Corporation (NYSE: UNP) Raised to Outperform at Baird.
WellPoint, Inc. (NYSE: WLP) Cut To Hold From Buy By Stifel Nicolaus

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: AKAM, CODE, COP, DYN, EP, GBL, LLNW, MON, MT, PVH, RAX, SLW, UNH, UNP, WLP

Top Analyst Upgrades and Downgrades (ALL, AOL, AZPN, STD, BPO, DRWI, JCP, K, M, MPEL, MSFT, OCR, PVH, PTP, UAL, VOD)

Administrator — Mon, 04 Oct 2010 12:06:59 +0000

These are some of this Monday’s top analyst upgrades, downgrades, and initiations seen in Wall Street research notes:

Allstate Corporation (NYSE: ALL) Raised to Overweight at JPMorgan.
AOL Inc. (NYSE: AOL) Cut to Hold at Benchmark Capital.
Aspen Technology Inc. (NASDAQ: AZPN) Started as Overweight at JPMorgan; Started as Outperform at Cowen.
Banco Santander S.A. (NYSE: STD) Cut to Neutral at Nomura Securities.
Brookfield Properties Corporation (NYSE: BPO) Raised to Sector Outperform at CIBC.
DragonWave Inc. (NASDAQ: DRWI) Cut to Underperform at Raymond James.
J. C. Penney Company, Inc. (NYSE: JCP) Cut to Neutral at Goldman Sachs.
Kellogg Co. (NYSE: K) Cut to Neutral at UBS.
Macy’s inc. (NYSE: M) Cut to Neutral and $25 target at Goldman Sachs.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) Raised to Neutral and $5.90 target (from Sell/$4.50) at Goldman Sachs.
Microsoft Corporation (NASDAQ: MSFT) Cut to Neutral and $28 target (from Buy/$32) at Goldman Sachs.
Omnicare Inc. (NYSE: OCR) Cut to Neutral at UBS.
Phillips-Van Heusen Corp. (NYSE: PVH) Raised to Buy at Goldman Sachs.
Platinum Underwriters Holdings (NYSE: PTP) Cut to Market Perform at KBW.
United Continental Holdings, Inc. (NYSE: UAL) Started as Buy at Stifel Nicolaus.
Vodafone Group plc (NYSE: VOD) Raised to Equalweight at Morgan Stanley.

JON C. OGG

Filed under: Analyst Calls Tagged: ALL, AOL, AZPN, BPO, DRWI, JCP, K, M, MPEL, MSFT, OCR, PTP, PVH, STD, UAL, VOD

More Apparel Deals Coming? (PVH, WRC, VFC, RL, ARO, ANF, OXM, LULU, UA, COLM)

247wallst — Mon, 15 Mar 2010 18:16:59 +0000

Phillips-Van Heusen Corp. (NYSE: PVH) has traders and investors speculating about or pondering which other apparel companies may become acquisition targets or which could end up in ‘mergers of equals’ as companies aim to strengthen their market positions. The PVH bid to acquire Tommy Hilfiger from Apax Partners for about $3 billion is technically a leveraged deal because the market cap for PVH was around $2.3 billion before it was announced. But now PVH shares are up almost 9% around $52.00 and we saw a 52-week high this morning of $54.64.

This deal may have put others in the spotlight. Warnaco Group Inc. (NYSE: WRC), V.F. Corporation (NYSE: VFC), Polo Ralph Lauren Corporation (NYSE: RL), Aeropostale, Inc. (NYSE: ARO), Abercrombie & Fitch Co. (NYSE: ANF), Oxford Industries Inc. (NASDAQ: OXM), Lululemon Athletica Inc. (NASDAQ: LULU), Under Armour, Inc. (NYSE: UA), Columbia Sportswear Company (NASDAQ: COLM) and many more are companies are now worth a second look in the sector. Most of these are more likely acquirers rather than targets, although not in all cases.

We wanted to take a sector review here on each as far as market capitalization rates, brands, and other issues which could or would come into play if more consolidation heads the way of clothing and accessories.

Warnaco Group Inc. (NYSE: WRC), with a $2.1 billion market cap, was in the M&A spotlight back during wave we saw from 2005 to 2007 when companies could get easy access to deal financing. The problem is that they are deemed a consolidator rather than a consolidation victim. In short, a buyer rather than a seller if the company has its own choice. It has brands such as Calvin Klein, Speedo, and Chaps.

V.F. Corporation (NYSE: VFC) is a monster in the sector, and one which likes owning brands. With a strong stock and a market cap close to $8.75 billion, VF can have the pick of the brands it wants to own. It has acquired The North Face, Vans, and others.

Filed under: Apparel, Mergers and Buy Outs, Private Equity, Retail, Rumors Tagged: ANF, ARO, COLM, LULU, OXM, PVH, RL, UA, VFC, WRC

Top Pre-Market analyst Downgrades (CEO, EXC, LLTC, NRG, PVH, POWI, TXN, WFMI)

247wallst — Tue, 21 Oct 2008 07:01:02 +0000

These are some of the top pre-market analyst downgrades and negative calls we are seeing from Wall Street this Tuesday morning:

CNOOC (CEO) Cut to Hold at Deutsche bank.
Excelon (EXC) Cut to Hold at Jefferies.
Linear Tech (LLTC) Cut to Market Perform at Raymond James.
NRG Energy (NRG) Cut to Hold at Jefferies.
Phillips-Van Heusen (PVH) Cut to Neutral at JPMorgan.
Power Integrations (POWI) Cut to Market Perform at Raymond James.
Texas Instruments (TXN) Cut to Market Perform at Raymond James.
Whole Foods (WFMI) Cut to Underperform at Jefferies.

Jon C. Ogg
October 21, 2008

Posted in Analyst Calls Tagged: CEO, EXC, LLTC, NRG, POWI, PVH, TXN, WFMI

Pre-Market Stock Movers (January 15, 2008) (EDU, COIN, CWTR, DNDN, DNA, WSM, FRX, LCBM, NWY, STT, PVH, TMA)

247wallst — Tue, 15 Jan 2008 08:50:55 +0000

Below is a snapshot of the key pre-market news that we are focusing on for early pre-market trading this Tuesday:

Apple (AAPL) has its Macworld today.
CECO Environmental (CECE) announced 14 new orders received totaling ~ $7.3 million.
Charles & Colvard (CTHR) lowered guidance and announced a strategic review.
Citigroup (C) was trading up but then went negative in early trading: -$1.99 EPS vs -$1.00 estimate, huge charges of $18.1 Billion, 4,200 layoffs included, review divestitures, cut $0.54 dividend down to $0.32.
Coldwater Creek (CWTR) lowered guidance, again, again. Shares down 15% to new low.
Converted Organics (COIN) announced its has secured a Rhode Island site for second organic fertilizer facility; stock down 6% pre-market.
Dendreon (DNDN) received a European patent covering Provenge and its ACI platform technology; shares up 5% pre-market after solid gains yesterday.
First American Financial (FAF) sees revenues of $1.9 Billion as expected but sees charges and writedowns.
Forest Labs (FRX) $0.96 EPS vs $0.75 estimate; Revenues $998.2 million versus $946+ million estimate. Raised 2008 guidance.
Genentech (DNA) trading down 2% pre-market after beating earnings but missing estimates on its top 4 drugs; sees 2008 EPS $3.30-3.45 vs. $3.37 estimate.
Kellwood (KWD) $21.00 tender from Sun Capital affiliate Cardinal Integrated commences.
Kosan (KOSN) initiated Phase II trials of alvespimycin, their second-generation inhibitor in patients with HER2-positive metastatic breast cancer.
Lifecore Biomedical (LCBM) trading up 29% after it agreed to be acquired by Warburg Pincus for $17.00 per share in cash.
Merrill Lynch (MER) confirmed that it has agreed to issue $6.6 Billion in preferred stock.
New Oriental Education & Technology (EDU) $0.10 EPS vs. $0.08 estimate.
New York & Co. (NWY) lowered guidance.
OSI Systems (OSIS) received a follow-on order from EDO Corporation for roughly $5.8 million.
Phillips-Van Heusen (PVH) guidance for Q4 EPS at least $0.53, previous guidance was $0.51 to 0.53 and $0.53 First Call; also reaffirmed FY08 EPS of $3.55 to 3.65 vs. $3.55 estimate.
State Street (STT) issued earnings and is indicated down 1% to 3% on thin volume after noting it sees 2008 at lower end of target.
Thornburg Mortgage (TMA) raised roughly $212 million in equity and convertible preferred securities sales; stock down 1% pre-market.
William Sonoma (WSM) lowered guidance; stock down 14% pre-market.

Jon C. Ogg
January 15, 2008

The 52-Week Low Club

247wallst — Tue, 04 Dec 2007 16:27:54 +0000

W Holding (WHI) Listing issues. Recently came out of SEC investigation. Drops to $.75 from 52-week high of $6.70.

Phillips-Van Heusen (PVH) Weak earning outlook. Down to $36.65 from 52-week high of $82.19.

AMD (AMD) Just keeps sliding. Drops to $9.22 from 52-week high of $23.

Spansion (SPSN) No recent news. Down to $4.44 from 52-week high of $15.10.

Epicept (EPCT) Prices new stock offering. Falls to $1.25 from 52-week high of $4.89.

Douglas A. McIntyre