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Top Analyst Upgrades & Downgrades

Administrator — Mon, 14 May 2012 12:33:05 +0000

These are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Monday.

Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) Cut to Sell at Societe Generale.

Eastman Chemical Co. (NYSE: EMN) named Bull of the Day at Zacks.

First Republic Bank (NYSE: FRC) Started as Overweight at JPMorgan.

Jetblue Airways (NASDAQ: JBLU) Cut to Neutral at Stern Agee.

Kirkland’s, Inc. (NASDAQ: KIRK) named Bear of the Day at Zacks.

Macy’s Inc. (NYSE: M) named as Value stock of the day at Zacks.

NetSuite Inc. (NYSE: N) Raised to Conviction Buy List at Goldman Sachs.

NextEra Energy, Inc. (NYSE: NEE) Raised to Outperform at Baird.

Nokia Corporation (NYSE: NOK) Cut to Sell at Soc-Gen.

Repblic Services Inc. (NYSE: RSG) Cut to Neutral at Wedbush Morgan.

Splunk, Inc. (NASDAQ: SPLK) Started as Buy at BofA/ML; Started as Equal-weight at Morgan Stanley; Started as Neutral at UBS; Started as Outperform at Credit Suisse.

Symantec Corporation (NASDAQ: SYMC) Cut to Sell at Goldman Sachs.

Teradata Corporation (NYSE: TDC) Raised to Overweight at Barclays.

Tumi Holdings, Inc. (NYSE: TUMI) Started as Buy at Jefferies; Started as Outperform at William Blair; Started as Neutral at Credit Suisse.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) Raised to Overweight at JPMorgan.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

JON C. OGG

Filed under: Analyst Calls Tagged: BBVA, EMN, featured, FRC, JBLU, KIRK, M, N, NEE, NOK, RSG, SPLK, SYMC, TDC, TUMI, VRTX

Top Analyst Upgrades & Downgrades (ARMH, BIG, CHKM, CSCO, CPWM, DLB, HGSI, JDSU, LINE, MMM, NOV, ORCL, RGP, TPX, TLLP, TEVA, VRTX)

Administrator — Thu, 10 May 2012 12:25:05 +0000

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

ARM Holdings PLC (NASDAQ: ARMH) Raised to Market Perform at Bernstein.

Big Lots Inc. (NYSE: BIG) Raised to Overweight at Barclays.

Chesapeake Midstream Partners, L.P. (NYSE: CHKM) Started as Outperform at Credit Suisse.

Cisco Systems Inc. (NASDAQ: CSCO) Reiterated Buy with $24 target at Argus.

Cost Plus Inc. (NASDAQ: CPWM) Cut to Neutral at Wedbush.

Dolby Labs, Inc. (NYSE: DLB) Cut to Neutral at JPMorgan.

Human Genome Sciences Inc. (NASDAQ: HGSI) Cut to Market Perform at Leerink Swann.

JDS Uniphase Corporation (NASDAQ: JDSU) Raised to Buy at UBS.

Linn Energy, LLC (NASDAQ: LINE) Started as Outperform at Credit Suisse.

3M Co. (NYSE: MMM) Cut to Market Perform at Bernstein.

National Oilwell Varco Inc. (NYSE: NOV) Maintained Buy but cut target to $90 at Argus.

Oracle Corporation (NASDAQ: ORCL) Cut to Hold at ThinkEquity.

Regency Energy Partners LP (NYSE: RGP) Started as Outperform at Credit Suisse.

Tempur-Pedic International Inc. (NYSE: TPX) Raised to Strong Buy at Raymond James.

Tesoro Logistics LP (NYSE: TLLP) Started as Outperform at Credit Suisse.

Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) Cut to Hold at Needham.

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) Cut to Outperform at RBC.

JON C. OGG

Filed under: Analyst Calls Tagged: ARMH, BIG, CHKM, CPWM, CSCO, DLB, HGSI, JDSU, LINE, MMM, NOV, ORCL, RGP, TEVA, TLLP, TPX, VRTX

Biotechs Bucking The Dendreon Trap & Curse (DNDN, VRTX, VVUS, ARNA, ALNY, AMGN, SVNT)

Administrator — Tue, 08 May 2012 17:15:48 +0000

When we issued our earnings previews for the week ahead, it looked as though Dendreon Corporation (NASDAQ: DNDN) had a chance of really setting the trend for the entire biotech sector this week. That was before the great news from Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) drove the interest for two days.

Dendreon Corporation (NASDAQ: DNDN) said that its total revenue rose almost 200% to $82 million, but that is almost in-line and shows no upside surprise for PROVENGE sales. Despite still having some $559 million in cash and near-term liquidity, a drop of 21% to $9.17 is really not hurting the overall biotech sector anywhere close to as much as we feared it would.

VIVUS Inc. (NASDAQ: VVUS) is weak after earnings as well as the loss was wider than expected, but it now has some of $333.4 million in cash and short-term now that it raised cash via a secondary offering. This is still in a holding pattern as the current Qnexa NDA final decision is still out to about July 17, 2012. A surprise mover to the upside is Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) with a rally ahead of its FDA meeting for lorcaserin as a weight-loss pill. Arena shares are up 15% at $3.14 against a 52-week range of $1.23 to $3.47 and the current market cap is $571 million.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) was up so much on Monday that you would have thought it was a takeover stock rather than a cystic fibrosis drug test that caused the pop. Shares were up huge on Monday and Tuesday is seeing another day of bucking the trend as shares are up 5.3% at $61.20 at yet another 52-week high. Its market cap is now magically almost $13 billion. So far on Tuesday we have seen the following analyst rating changes: Raised to Equal-weight at Morgan Stanley; Raised to Outperform at Wells Fargo; and Raised to Buy at Needham.

Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) is one of the upside exception today as J.P. Morgan initiated coverage with an Overweight rating. Shares are up almost 5% at $10.44 against a 52-week range of $5.88 to $13.75.

Amgen Inc. (NASDAQ: AMGN) is a mix somewhere between biotech and pharma and it is following the defensive stocks today with a gain of 0.6% to $70.04 against a 52-week high of $72.00. That new 2.1% dividend yield is offering some cushion it appears.

Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) shows that investors will reward emerging pharma players merely for reaching agreements with creditors, This stock is up 19% at $1.855 on only 2 million shares after it reached an agreement with some creditors to restructure a portion of its debt in a move anticipated to bring the equivalent of $44 million. Its market cap is $131 million and the $1.86 compares to a 52-week range of $1.26 to $9.14.

JON C. OGG

Filed under: Biotech, Trading Alert Tagged: ALNY, AMGN, ARNA, DNDN, featured, SVNT, VRTX, VVUS

Top Analyst Upgrades & Downgrades (ACM, ALNY, BIIB, BP, COF, SNP, CTSH, EA, EPB, ERJ, F, LPX, MFC, MM, RAX, SYNC, VRTX, WYNN)

Administrator — Tue, 08 May 2012 12:11:27 +0000

These are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Tuesday.

AECOM Technology Corporation (NYSE: ACM) Cut to Underperform at BofA/ML.

Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) Started as Overweight at JPMorgan.

Biogen Idec Inc. (NASDAQ: BIIB) Reiterated Buy with $145 target at Argus.

BP plc (NYSE: BP) Cut to Underweight at Barclays.

Capital One Financial Corp. (NYSE: COF) Raised to Hold from Sell at Argus.

China Petroleum & Chemical (NYSE: SNP), or Sinopec, named Bear of the Day at Zacks.

Cognizant Technology Solutions (NASDAQ: CTSH) Raised to Outperform at R.W. Baird.

Electronic Arts Inc. (NASDAQ: EA) Raised to Buy at Needham.

El Paso Pipeline Partners, LP (NYSE: EPB) Started as Outperform with $38 target at Credit Suisse.

Embraer SA (NYSE: ERJ) Cut to Neutral at Citigroup.

Ford Motor Co. (NYSE: F) maintained Buy with $19 target at Argus.

Louisiana-Pacific Corporation (NYSE: LPX) Raised to Buy at Deutsche Bank.

Manulife Financial (NYSE: MFC) named Bull of the Day at Zacks.

Millennial Media Inc. (NYSE: MM) Started as Neutral at Goldman Sachs; Started as Equal-weight at Morgan Stanley; Started as Equal-weight at Barclays.

Rackspace Hosting, Inc. (NYSE: RAX) maintained Neutral with $57 target at Goldman Sachs.

Synacor Inc. (NASDAQ: SYNC) Cut to Underperform at BofA/ML.

Vertex Pharmaceuticals (NASDAQ: VRTX) Raised to Equal-weight at Morgan Stanley.

Wynn Resorts Ltd. (NASDAQ: WYNN) Maintained Outperform with $166 target at Credit Suisse.

JON C. OGG

Filed under: Analyst Calls Tagged: ACM, ALNY, BIIB, BP, COF, CTSH, EA, EPB, ERJ, F, LPX, MFC, MM, RAX, SNP, SYNC, VRTX, WYNN

24/7 Wall St. Closing Bell (FSLR, PEP, PG, ILMN, CCL, ANV, AWR, BBEP, CDE, DISH, LPX, TSN, HFC, CHTR, DMD, HL, OMX, THC, WEN, DIS, VRTX, CTSH, BSFT)

Paul Ausick — Mon, 07 May 2012 20:08:20 +0000

The major US stock indexes opened lower this morning following a weekend of elections in Europe. A new Socialist party president in France and a still very cloudy future in Greece have left investors in a quandry. We have more coverage here on the French election and here on the election in Greece. By the last hour of trading, shares had recovered nearly all of the early losses and the three major indexes are either slightly positive or on the way to positive territory. The US dollar index rose today, now up 0.09% at 79.573. The GSCI commodity index is down about -2.3% at 653.60, with commodities mixed on the slightly stronger dollar. WTI crude oil closed down -0.6% at $97.94/barrel and Brent crude trades down -0.08% at $113.09/barrel. Gold settled down -0.4% today, at $1,639.10/ounce.

The unofficial closing bells put the DJIA down nearly 30 points to 13,008.53 (-0.23%), the NASDAQ rose less than 2 points (0.05%) to 2,957.76, and the S&P 500 rose 0.48% or less than 1 point to 1,369.58.

There were several analyst upgrades and downgrades today, including First Solar Inc. (NASDAQ: FSLR) cut to ‘neutral’ at Argus; Pepsico Inc. (NYSE: PEP) raised to ‘overweight’ at Morgan Stanley; Procter & Gamble (NYSE: PG) cut to ‘market perform’ at Wells Fargo; Illumina Inc. (NASDAQ: ILMN) raised to ‘outperform’ with a price target of $55 at Credit Suisse; and Carnival Corp. (NYSE: CCL) cut to ‘neutral’ at Goldman Sachs.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Allied Nevada Gold Corp. (AMEX: ANV) is down about -10% at $25.59 after posting a new 52-week low of $25.37 earlier today; American States Water Co. (NYSE: AWR) is up 3.6% at $37.09; Breitburn Energy Partners L.P. (NASDAQ: BBEP) is down -2.4% at $17.54; Coeur d’Alene Mines Corp. (NYSE: CDE) is down -4.1% at $18.99 after posting a new 52-week low of $18.71; Dish Network Corp. (NASDAQ: DISH) is down -0.93% at $31.02; Louisiana Pacific Corp. (NYSE: LPX) is up 5.9% at $9.49; Tyson Foods Inc. (NYSE: TSN) is up 3.4% at $18.65; and HollyFrontier Corp. (NYSE: HFC) is down -2.4% at $28.82 (more coverage here).

On Tuesday we are scheduled to get earnings from Charter Communications Inc. (NASDAQ: CHTR), Demand Media Inc. (NYSE: DMD), Hecla Mining Co. (NYSE: HL), OfficeMax Inc. (NYSE: OMX), Tenet Healthcare Corp. (NYSE: THC), The Wendy’s Co. (NYSE: WEN), and Walt Disney Co. (NYSE: DIS).

Other standouts from today include the following stocks:

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) is up about 55% at $58.05. The company’s cystic fibrosis drug study showed significant positive results. More coverage here.

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) is down more than -XX% at $XX. The IT-outsourcing firm showed good results, but guidance was weak. More coverage here.

BroadSoft Inc. (NASDAQ: BSFT) is down -17.6% at $33.68. The communications software maker posted good earnings, but followed that with soft guidance for the second quarter.

Stay tuned for Tuesday. Richmond Fed President Jeffrey Lacker and Dallas Fed President Richard Fisher are giving speeches. We have noted the following events on the schedule (all times Eastern):

7:30 a.m. – NFIB Small Business optimism index
11:30 a.m. – 4-week bill auction
1:00 p.m. – 3-year note auction

Paul Ausick

Filed under: General Tagged: ANV, AWR, BBEP, BSFT, CCL, CDE, CHTR, CTSH, DIS, DISH, DMD, FSLR, HFC, HL, ILMN, LPX, OMX, PEP, PG, THC, TSN, VRTX, WEN

Vertex Sees Billions In Value on Cystic Fibrosis Results (VRTX)

Administrator — Mon, 07 May 2012 12:54:24 +0000

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) is trading up so much higher that you might think the company is being acquired. The real reason for the huge share gains is based upon results of a Phase II cystic Fibrosis study.

It was the interim data from its Phase 2 combination study of VX-809 and KALYDECO showed ‘significant’ improvements in lung function in people with cystic fibrosis who have two copies of the F508del mutation.

A planned interim analysis was conducted after approximately half of the study patients had completed 56 days of treatment. The current results are based on data from 37 homozygous F508del patients who completed treatment in the 56-day study and it also included 11 patients with one or two copies of the F508del mutation who received placebo.

Vertex showed that there was a statistically significant improvement in lung function across the combined treatment groups relative to baseline compared to placebo. Of those who received VX-809 and KALYDECO, approximately 46% or 17/37 experienced an absolute improvement from baseline to Day 56 in lung function of 5 percentage points or more. What is more interesting is that approximately 30 percent or 11/37 experienced an absolute improvement from baseline to Day 56 of 10 percentage points or more.

None of the 11 patients treated with placebo achieved a 5-percentage point or more improvement from baseline to Day 56 in lung function.

Vertex has already seen its shares up almost 60% at $59.70 or so on more than 3.6 million shares that already eclipses the average daily volume of about 2.4 million shares. It cannot go without saying but the market cap before today’s news was almost $7.9 billion. That implies that billions of dollars of value are being derived from the news.

JON C. OGG

Filed under: Biotech, Drug companies Tagged: VRTX

Top Analyst Upgrades & Downgrades (ACHN, AAPL, BSX, CLS, C, CTRN, FSLR, HAIN, IDIX, INFY, NCT, SAP, TNK, TIF, VLO, VRTX)

Administrator — Tue, 17 Apr 2012 12:27:46 +0000

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

Achillion Pharmaceuticals Inc. (NASDAQ: ACHN) Started as Outperform with $11 target at Credit Suisse.

Apple Inc. (NASDAQ: AAPL) Started as Strong Buy with $800 target at Raymond James (late Monday call).

Boston Scientific Corp. (NYSE: BSX) Reiterated Outperform with $7 target at Credit Suisse.

Celestica Inc. (NYSE: CLS) Cut to Hold at Deutsche Bank.

Citigroup Inc. (NYSE: C) Reiterated Outperform with $48 target at Credit Suisse.

Citi Trends, Inc. (NASDAQ: CTRN) named Bear of the Day at Zacks.

First Solar, Inc. (NASDAQ: FSLR) Cut to Hold at Goldman Sachs.

Hain Celestial Group (NASDAQ: HAIN) named Bull of the Day at Zacks.

Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) Started as Neutral at Credit Suisse.

Infosys Ltd. (NASDAQ: INFY) Cut to Neutral at Goldman Sachs.

Newcastle Investment Corporation (NYSE: NCT) Started as Outperform at Keefe Bruyette & Woods.

SAP AG (NYSE: SAP) Raised to Buy at SocGen; Cut to Neutral at HSBC.

Teekay Tankers Ltd. (NYSE: TNK) Raised to Neutral with new $5.20 target at BofA/ML.

Tiffany & Co. (NYSE: TIF) Started as Neutral at Macquarie.

Valero Energy Corporation (NYSE: VLO) Reiterated Outperform with $37 target at Credit Suisse.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) Started as Outperform with $43 target at Credit Suisse.

JON C. OGG

Filed under: Analyst Calls Tagged: AAPL, ACHN, BSX, C, CLS, CTRN, FSLR, HAIN, IDIX, INFY, NCT, SAP, TIF, TNK, VLO, VRTX

Abbott’s Hep-C Pressures All Hep-C Rivals (ABT, RIGL, GILD, VRTX, IDIX)

Administrator — Wed, 04 Apr 2012 17:28:23 +0000

News from Abbott Laboratories (NYSE: ABT) on its positive Phase II study results from two different interferon-free hepatitis C treatment has the entire drug sector up in arms as it pertains to Hepatitis C drugs. The 91%, 93%, and 95% response rates that were initially seen in the report were more than impressive. The news is spooking investors in other Hepatitis C drug players as you can see:

Rigel Pharmaceuticals (NASDAQ: RIGL) has a study under way and its shares are down 4% at $7.95.

Gilead Sciences Inc. (NASDAQ: GILD) has already taken it on the chin once and maybe it should feel lucky that its drop is only 1% at $47.61 so far today.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) is down 1.5% at $41.17 on the day.

Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is the worst of the lot that we have seen with a drop of 14.4% at $8.75.

Investors over the longer-term should be reminded that unless Abbott is allowed to skip a lot of the testing that it could still be quite some time before its Hepatitis C treatment even comes up for the traditional FDA approval process. We are nearly in mid-2012 already, and that could put the time frame out to 2014 or even longer.

JON C. OGG

Filed under: Biotech, Drug companies Tagged: ABT, GILD, IDIX, RIGL, VRTX

Top Earnings Previews For Thursday (BZH, PHM, BX, CME, DOW, GNW, GILD, IP, K, MA, MRK, RCL, HOT, TRMB, VRTX, YRCW)

Administrator — Wed, 01 Feb 2012 20:43:53 +0000

Earnings season is still upon us. There are going to be many big earnings reports Thursday and we would consider Thursday as the climax for the companies reporting their normal fourth quarter results of 2011 which have fiscal year-end dates of December 31.

We have two homebuilder earnings due from Beazer Homes USA Inc. (NYSE: BZH) and PulteGroup, Inc. (NYSE: PHM). Other key earnings to watch will be from the following: Blackstone Group L.P. (NYSE: BX); Boston Scientific Corporation (NYSE: BSX); CME Group Inc. (NYSE: CME); Dow Chemical Co. (NYSE: DOW); Genworth Financial Inc. (NYSE: GNW); Gilead Sciences Inc. (NASDAQ: GILD); International Paper Co. (NYSE: IP); Kellogg Co. (NYSE: K); MasterCard Inc. (NYSE: MA); Merck & Co. Inc. (NYSE: MRK); Royal Caribbean Cruises Ltd. (NYSE: RCL); Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT); Trimble Navigation Ltd. (NASDAQ: TRMB); Vertex Pharmaceuticals Inc. (NASDAQ: VRTX); YRC Worldwide Inc. (NASDAQ: YRCW).

We have included Thomson Reuters consensus estimates on each company. On most we have included pricing data and/or other bits of color for traders to consider.

We have two different homebuilders on deck to report. Beazer Homes USA Inc. (NYSE: BZH) is expected to post -$0.36 EPS on $211.4 million in sales and we would watch cancellation rates on contracts as well as the quality of the earnings. Second is PulteGroup, Inc. (NYSE: PHM) with an expected positive earnings of $0.07 EPS on $1.14 billion in sales. Pulte’s cancellation rates and quality of earnings will also have to be monitored.

Blackstone Group L.P. (NYSE: BX) will show private equity wealth and earnings in the morning. The firm is expected to report earnings of $0.38 EPS on revenues of $986.75 million.

Boston Scientific Corporation (NYSE: BSX) has been down and out for longer than any current and past holder would like to consider. Thomson Reuters has estimates of $0.08 EPS on $1.91 billion in sales.

CME Group Inc. (NYSE: CME) is expected to report earnings of $3.71 EPS and $754 million in sales before the market opens. With a possibility of a state-relocation and the ongoing pressure of exchange mergers we would be watching this one. At roughly $244.50, the 52-week trading range is $224.69 to $317.27.

Dow Chemical Co. (NYSE: DOW) is expected to turn in earnings of $0.30 EPS on $14.19 billion in sales. The report is due in the morning.

Genworth Financial Inc. (NYSE: GNW) is expected to report earnings of $0.19 EPS on $2.58 billion in sales. The shares are now up over 60% from the lows of the last year and the stock still remains pressured due to the mortgage insurance overhang that has been in place for quite some time.

Gilead Sciences Inc. (NASDAQ: GILD) has shocked the market by outperforming despite what appears to be a bad use of effort and capital in the large acquisition. Still, shares hit a new 52-week high on Wednesday. Thomson Reuters has estimates of $1.05 EPS and $2.18 billion in sales.

International Paper Co. (NYSE: IP) is close to being within striking range of a 52-week high and it pays well above a 3% yield today. Thomson Reuters has estimates of $0.61 EPS and $6.5 billion in sales.

Kellogg Co. (NYSE: K) is lagging and actually close to a 52-week low with shares around the $49.50 mark. The estimates are $0.63 on $2.99 billion in sales. The bar is set very low here.

MasterCard Inc. (NYSE: MA) will show just what the interchange fee problems look like, but that is not fully reflected at all in current numbers. The consensus estimates are $3.92 EPS and $1.73 billion in sales. With shares around $357 some are concerned over valuations here.

Merck & Co. Inc. (NYSE: MRK) is reporting early Thursday morning and the company’s higher dividend hike has shares trading very close to 52-week highs with a price of close to $38.70 andf a 52-week range of $29.47 to $39.43. Estimates are $0.95 EPS and $12.53 billion in sales. To show just how low growth is the estimates of $3.76 EPS and $48.23 billion in sales for all of 2011 are only expected to be $3.83 EPS on $47.62 billion in sales for all of 2012.

Royal Caribbean Cruises Ltd. (NYSE: RCL) may or may not release. With its rival’s disaster, we are not doing much legwork here. Thomson Reuters has a projection of $0.15 EPS and $1.78 billion in sales.

Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) is key for hotel investors and this one is expected to post $0.57 EPS on $1.42 billion in sales. Starwood has over $1 billion in cash but is still trading at a high 3.7-times book value.

Trimble Navigation Ltd. (NASDAQ: TRMB) is not so widely watched on its own, but it is used as a barometer reading for Garmin. Trimble estimates are $0.48 EPS and $419.10.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) has been in the news with new FDA approvals. We have Thursday as the tentative date and estimates are $0.73 EPS and $523.66 million in sales.

YRC Worldwide Inc. (NASDAQ: YRCW) is set to report and it is a puzzlement as to how this stock is still alive. On a reverse split basis the $12.83 price compares to a 52-week range of $7.94 to somewhere over $1,000. The consensus is listed as -$6.97 EPS but we have no idea how these targets are composed on this company.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Calendar, Earnings Tagged: BX, BZH, CME, DOW, GILD, GNW, HOT, IP, K, MA, MRK, PHM, RCL, TRMB, VRTX, YRCW

Top Analyst Upgrades & Downgrades (AMZN, ASH, BAC, C, CAT, DB, XOM, MWW, NEM, STX, SXC, WBSN, VRTX)

Administrator — Wed, 01 Feb 2012 13:18:09 +0000

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

Amazon.com Inc. (NASDAQ: AMZN) Maintained Neutral but cut target to $190 at Credit Suisse; Maintained Outperform but lowered estimates at Baird; Lowered target to $225 at Jefferies.
Applied Micro Circuits Corporation (NASDAQ: AMCC) Cut to Perform at Oppenheimer.
Ashland Inc. (NYSE: ASH) named as the Value Stock of the Day at Zack.
Bank of America Corp. (NYSE: BAC) named as Bear of the Day with under current price objective target by Zacks.
Citigroup, Inc. (NYSE: C) Raised to Outperform at Wells Fargo.
Caterpillar, Inc. (NYSE: CAT) named as Bull of the Day with way above-consensus price target at Zacks.
Deutsche Bank AG (NYSE: DB) Started as Outperform at Credit Suisse.
Exxon Mobil Corporation (NYSE: XOM) Cut to Hold at Argus.
Monster Worldwide, Inc. (NYSE: MWW) Cut to Perform at Oppenheimer.
Newmont Mining Corporation (NYSE: NEM) Cut to Hold at Stifel Nicolaus.
Seagate Technology plc (NASDAQ: STX) Raised to Buy at Stifel Nicolaus.
SunCoke Energy Inc. (NYSE: SXC) Reinstated as Outperform at Credit Suisse.
Websense Inc. (NASDAQ: WBSN) Cut to Market Perform at Wells Fargo.
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) Reiterated Outperform and raised target at $42 at Credit Suisse.

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: 24/7 Wall St. Wire, Analyst Calls Tagged: AMZN, ASH, BAC, C, CAT, DB, MWW, NEM, STX, SXC, VRTX, WBSN, XOM