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Analyst upgrades, downgrades and initiations: AIZ, RIMM, ING, URBN ...

 Sep 26, 2008 04:30 PM UTC
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Symbol Sentiment Start Return Closed
PAG n/a
HT n/a
LINTA n/a
VTNC n/a
RIMM n/a
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CNX n/a
ECL n/a
CF n/a
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AIZ n/a
ENG n/a
MNT n/a
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Graphic_arrow1 Via BloggingStocks:  

Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations

Analyst upgrades:

  • Merrill believes Assurant (NYSE: AIZ) is well-positioned to weather the turmoil in the capital markets environment and cites the company's defensive characteristics for the upgrade. The firm upgraded shares to Buy from Neutral.

  • Deutsche Bank upgraded R.H. Donnelly (NYSE: RHD) to Hold from Sell to reflect the company's cost cuts and its ability to buy back bonds at discounted prices.

  • Citigroup raised Consol Energy (NYSE: CNX) to Buy from Hold on valuation as they are seeing no fundamental deterioration in coal.

  • Research in Motion (NASDAQ: RIMM) was upgraded to Neutral from Underperform at Credit Suisse.
    Raymond James raised shares to Outperform from Market Perform.

  • Penske Automotive (NYSE: PAG) was upgraded to Add from Neutral at Calyon.

  • ICF International (NASDAQ: ICFI) was lifted to Overweight from Equal Weight at Stephens.


Analyst downgrades:


  • Deutsche Bank downgraded Research in Motion (NASDAQ: RIMM) to Sell from Hold after the company reported Q2 results to reflect a deceleration in growth and margin pressures. RIMM's target was lowered to $70 from $120. RBC Capital downgraded Research in Motion to Sector Perform from Outperform citing reduced margin visibility and the slowing macroeconomic environment.

  • Stephens downgraded Vitran (NASDAQ: VTNC) and Saia (NASDAQ: SAIA) to Equal Weight from Overweight to reflect the companies' deteriorating demand and pricing environment. Vitran's target was cut to $15 from $22 and Saia's was lowered to $16 from $24.

  • Mentor (NYSE: MNT) was downgraded to hold from Buy at Jefferies to reflect continued weakness in the breast implant market and the potential for lowered guidance. Mentor's target was lowered to $31 from $36.

  • Merrill cut ING Group (NYSE: ING) to Underperform from Neutral.

  • CF Industries (NYSE: CF) was downgraded at Citigroup to Hold from Buy.

  • Liberty Interactive (NASDAQ: LINTA) was lowered to Sell from Hold at Natixis.


Analyst initiations:

  • Suntrust initiated Idexx Laboratories (NASDAQ: IDXX) with a Neutral rating, citing slowing organic revenue growth, valuation and a slowing lab business.

  • Jefferies initiated Urban Outfitters (NASDAQ: URBN) with a Hold rating and $33 target. The firm prefers to stay on sidelines due to valuation and macro risks.

  • Hersha Hospitality (NYSE: HT) was assumed with a Market Perform rating and $7.50 target at Keefe Bruyette. The firm believes near-term demand trends in New York City could slow.

  • Ecolab (NYSE: ECL) was initiated at Baird with a Neutral rating and $54 target.

  • KeyBanc assumed ENGlobal (NASDAQ: ENG) with a Hold rating.

  • Piper initiated Pentair (NYSE: PNR) with a Neutral rating and $39 target.

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