Wachovia upgrades Caterpillar (CAT 67.66) to Outperform from Market Perform, based on a lower probability of a US recession, reacceleration in earnings growth, and a decision to discount their ‘08E $6.40 instead of their ‘07E $5.30.
Montgomery resumes Digene (DIGE 45.30) with a Buy and sets a $55 tgt, as they believe that Digene's strong HPV sales and anticipated EPS leverage over the next several years, which they expect to result in a much higher GAAP EPS growth rate and higher free cash flow, warrant a premium multiple
Baird initiates Alliance Data Systems (ADS 65.69) with an Outperform and sets an $80 tgt, based on co's service offering that positions them to take advantage of the ongoing shift of advertising dollars away from mass media to more targeted and measurable marketing channels, expect cross-selling to be a major growth driver and believe the co is well positioned to be a dominant force in the retail sector through leveraging its unique access to customer purchase data through databases build and managed for private-label clients as well as from recently acquired Abacus.
Goldman downgrades IBM (IBM 97.12) to Neutral from Buy
Credit Suisse downgrades IBM (IBM 97.12) to Neutral from Outperform and cuts their tgt to $100 from $107 following earnings saying they believe the combination of concerns around soft US enterprise spending, execution issues in all 3 of its major segments, and the lack of material upside to consensus EPS ests for FY07 will weigh on the shares for the near future.
J.P Morgan upgrades Intel (INTC 20.98) to Overweight from Neutral
Citigroup kommenteerib Intelit (INTC): Reiterate Intel as Our Top Idea — Armed with an acute inflection in grossmargin, heading into seasonal strength while gaining share, and trading at just14x our 2008 EPS estimate (target multiple is 18x), Intel is well poised for priceappreciation. Noting that sentiment has been decidedly negative, and thatownership analysis suggests Intel is by no means over-owned, we reiterate Intelas our top idea. We look forward to Intel’s May 3rd Analyst Day as a forum forIntel to further drive home its margin inflection story. We raise our price targetto $27 from $26.
Täna hommikul järgmised tulemused:
JP Morgan (JPM) Chase beats by $0.21, ex items; announces $10 bln buyback (50.18 ) Reports Q1 (Mar) earnings of $1.23 per share, excluding an $0.11 gain, $0.21 better than the Reuters Estimates consensus of $1.02; revenues rose 24.6% year/year to $19.74 bln vs the $17.04 bln consensus. Co also announced that the board authorized a new $10 billion common stock repurchase program, replacing the prior $8 billion program that had approximately $850 million of remaining authorization.
Motorola (MOT) beats Reuters consensus by $0.01, in line with First Call, guides Q2 EPS below consensus (17.95 ) Reports Q1 (Mar) earnings of $0.02 per share, excluding non-recurring items, $0.01 better than the Reuters Estimates consensus of $0.01, in line with $0.02 First Call consensus; revenues fell 1.8% year/year to $9.43 bln vs the $9.25 bln consensus. Co reports gross margins of 26% vs 24.5% street expectation; MOT reports handset shipments of 45.4 mln units. Co issues downside guidance for Q2, sees EPS of $0.02-0.03 vs. $0.08 consensus.