Analyst upgrades, downgrades and initiations: AXYS, CX, EPG, CKP, CBS ...

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

Analyst upgrades:

• Axys Tech (NASDAQ: AXYS) was upgraded to Outperform from Market Perform at Morgan Keegan on valuation.
  


• Credit Suisse upgraded Cemex (NYSE: CX) to Neutral from Underperform following the company's refinancing announcement.
  


• Patni Computer (NYSE: PTI) was upgraded to Buy from Neutral at UBS.

• Merriman downgraded Environmental Power (NASDAQ: EPG) to Neutral from Buy citing a lack of visibility into the company's capital raise and lowered their estimates to reflect a slippage in project schedules.
  


• Jefferies cut inVentiv Health (NASDAQ: VTIV) to Hold from Buy as they believe budget cuts at the company's client base make 2009 estimates too high. The firm lowered their target to $11 from $15.
  


• Oppenheimer downgraded RSC Holdings (NYSE: RRR) to Perform from Outperform to reflect the continued deterioration in non-residential construction and valuation following the recent rally.


• Smurfit-Stone (NASDAQ: SSCC) was lowered to Hold from Buy at Deutsche Bank.
  


• Distribucion Y Servicio (NYSE: DYS) was downgraded to Sell from Hold at Deutsche Bank.
  


• Key Energy (NYSE: KEG) was downgraded at SMH Capital to Neutral from Accumulate.

• AECOM Technology (NYSE: ACM) was initiated with an Outperform rating and $34 target at Baird. The firm is positive on AECOM's diverse portfolio of services and global reach.
  


• Baird also initiated Checkpoint (NYSE: CKP) with a Neutral rating and $11 target, citing the weak macro environment.
  


• Thomas Weisel said Integra LifeSciences (NASDAQ: IART) has little exposure to economically sensitive areas of healthcare and has a varied mix of products that provide a platform for sustainable organic growth. Shares were initiated with an Overweight rating.


• Piper Jaffray assumed CBS Corp (NYSE: CBS) with a Neutral rating.
  


• BioMarin (NASDAQ: BMRN) was started at Stanford with a Hold rating.
  


• Websense (NASDAQ: WBSN) was initiated with an Equal Weight at First Analysis.

Analyst upgrades, downgrades and initiations: AXYS, CX, EPG, CKP, CBS ... originally appeared on BloggingStocks on Tue, 23 Dec 2008 11:40:00 EST. Please see our terms for use of feeds.

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