CHANGE IN RATINGS, EPS
Autodesk (ADSK) upgraded at Argus from Hold to Buy, Argus Research said. $47 price target. Company is leveraged to several growth areas.
Ansys (ANSS) rated new Neutral at Goldman Sachs. $66 price target. Company has defensive characteristics, but few near-term sales catalysts.
Chesapeake Energy (CHK) downgraded at Argus from Hold to Sell, Argus Research said. Company continues to spend and will require more cash.
Eaton Vance (EV) downgraded at Sterne Agee from Buy to Neutral, Sterne Agee said. $28 price target. Valuation reflects organic growth headwinds.
Fairchild Semiconductor (FCS) rated new Buy at Ticonderoga. $18 price target. Company remains leveraged to solid demand for power chips.
Lululemon (LULU) upgraded at Stifel from Hold to Buy. $64 price target. Company offers growth at an attractive price.
Marvell Technology (MRVL) downgraded at JMP from Market Perform to Market Underperform, JMP Securities said. $12.50 price target. Elevated near term risk from HDD and networking demand dislocation.
Micron (MU) upgraded at Oppenheimer from Perform to Outperform, Oppenheimer said. $8 price target. Stock should rally, now that the RMBS lawsuit is over.
NetApp (NTAP) downgraded at Collins Stewart from Buy to Neutral. $40 price target. Company missed expectations once again.
Progressive Corp. (PGR) downgraded at Deutsche Bank from Buy to Hold. $19 price target. lack of future catalysts.
Parametric Technology (PMTC) rated new Neutral at! Goldman . $23 price target. Company faces potential growth headwinds.
Sprint Nextel (S) rated new Underperform at Jefferies. $2.50 price target. Underlying growth trends remain weak.
AT&T (T) rated new Hold at Jefferies. $33 price target. Large dividend is secure, but not enough to attract investors at current levels.
TW Telecom (TWTC) rated new Buy at Jefferies. $22 price target. Company is a solid alternative carrier.
Verizon (VZ) rated new Buy at Jefferies. $45 price target. Network differentiation will help the company continue to grow.
Western Refining (WNR) downgraded at Deutsche Bank from Buy to Hold. $16 price target. Brent-WTI spread is contracting.
WR Berkley (WRB) downgraded at Deutsche from Hold to Sell. $30 price target. Valuation call following recent rally.
STOCK COMMENTS / EPS CHANGES
Applied Materials (AMAT) numbers lowered at UBS. Shares of AMAT now seen reaching $12.50, according to UBS. Estimates also lowered on lower total orders. Neutral rating.
American Tower (AMT) added to Conviction Buy List at Goldman. Consensus estimates likely remain too conservative. $71 price target.
Abercrombie & Fitch (ANF) numbers cut at Goldman
(ANF). Shares of ANF now seen reaching $56, according to Goldman Sachs. Estimates also reduced, given lower realized margins. Neutral rating.
Abercrombie & Fitch target lowered at UBS. Shares of ANF now seen reaching $52, according to UBS. Lack of visibility on 2012 EPS target. Neutral rating.
Boeing (BA) numbers raised at Citi. ! Shares o f BA now seen reaching $82, Citi said. Estimates also raised on a large commercial order. Buy rating.
Blackrock (BLK) numbers raised at Citi. Shares of BLK now seen reaching $190, Citi said. Estimates also raised on slightly higher EPS and accelerating business fundamentals. Buy rating.
WW Grainger (GWW) numbers boosted at Credit Suisse.Shares of GWW now seen reaching $203. Estimates also upped, to match the company's new guidance. Outperform rating.
Incyte (INCY) estimates, target raised at JMP.Shares of INCY now seen reaching $27. Estimates also raised as FDA grants early approval for myelfibrosis. Market Outperform rating.
Petsmart (PETM) estimates, target upped at Credit Suisse.PETM estimates were boosted through 2013, Credit Suisse said. Company is carrying a lot of momentum into the new year. Outperform rating and new $54 price target.
Philip Morris (PM) numbers raised at Goldman.Shares of MO now seen reaching $81, according to Goldman Sachs. Estimates also increased, given higher expected volumes and pricing. Buy rating.
Target (TGT) estimates, target increased at Goldman.TGT estimates were raised through 2013, Goldman Sachs said. Company is realizing higher margins and paying a lower tax rate. Buy rating and new $60 price target.
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