Analyst upgrades, downgrades and initiations: KFT, SYMC, CAR, GLAD, HANS ...

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

• Merrill upgraded Kraft Foods (NYSE: KFT) to Buy from Neutral citing progress in the company's turnaround plan, execution, and 2009 earnings growth.
  


• Thomas Weisel raised Express Scripts (NASDAQ: ESRX) to Overweight from Market Weight and believes the company's core business remains strong and that valuation is attractive.
  


• Friedman Billings upgraded shares of Symantec (NASDAQ: SYMC) to Outperform from Market Perform on valuation after checks indicated the company should meet Q2 expectations.


• NeuStar (NSR) was upgraded to Outperform from Neutral at Baird.
  


• UBS raised Advance Auto Parts (NYSE: AAP) to Neutral from Sell.
  


• Goldman upgraded Royal Dutch Shell (NYSE: RDS.A) to Buy from Neutral.

• Friedman Billings downgraded shares of Zions Bancorp (NASDAQ: ZION) to Market Perform from Outperform and lowered its target to $33 from $43 following the company's Q3 results, as they believe near-term credit trends and concerns surrounding its securities portfolio will limit upside. Shares were also downgraded at JP Morgan to Neutral from Overweight due to deteriorating credit trends.
  


• Banc of America cut Monster (NASDAQ: MNST) to Neutral from Buy to reflect a lack of margin stability and their belief consensus estimates remain too high.
  


• Barclays downgraded Avis Budget Group (NYSE: CAR) to Equal Weight from Overweight citing the global economic slowdown and refinancing risk.


• Johnson Controls (NYSE: JCI), Luxottica (NYSE: LUX) and ArvinMeritor (NYSE: ARM) were cut to Neutral from Buy at Goldman.
  


• Luxottica was also downgraded at HSBC to Neutral from Overweight.
  


• JP Morgan cut AuthenTec (NASDAQ: AUTH) to Underweight from Neutral.

• Janney Montgomery believes Gladstone Capital's (NASDAQ: GLAD) management team and lower portfolio investment risk profile warrant a premium valuation. The firm started shares with a Buy rating and $13 target.


• CommVault (NASDAQ: CVLT) was initiated with a Buy rating and $14 target at Cantor, as the firm finds the stock attractively valued given its secular growth rate potential.
  


• KeyBanc is positive on Papa John's (NASDAQ: PZZA) management team, growth potential, cost initiatives, and differentiation. Shares were assumed with a Buy rating and $30 target.


• Arris (NASDAQ: ARRS) was initiated at Jefferies with a Hold rating and $7 target.
  


• Rigel Pharmaceuticals (NASDAQ: RIGL) was initiated at Banc of America with a Neutral rating and $21 target.
  


• Morgan Stanley started Hansen Natural (NASDAQ: HANS) with an Equal Weight rating.

Permalink | Email this | Comments