Prudential raises their Activision (ATVI 17.59) tgt to $21 from $18, based on a 20-store check that indicates strong initial demand for the co's holiday titles
Friedman, Billings downgrades First Marblehead (FMD 53.50) to Underperform from Market Perform and $43 tgt, as they believe shares are vulnerable to a correction, as they face a higher level of risk in terms of pricing pressure, contract renewals, and questions regarding its residuals
Citigroup downgrades Blockbuster (BBI 5.44) to Hold from Buy
Friedman, Billings raises their Microsoft (MSFT 29.13) tgt to $35 from $32, based on Vista's release and an upcoming strong supporting cast of products
JP Morgan reiterates Overweight rating on Phase Forward (NASDAQ:PFWD). Firm continues to believe that Phase Forward will benefit from the increasing utilization of electronic data capture and other technologies by pharmaceutical manufacturers and biotech companies. In their view, PFWD's 3Q06 results demonstrated continued top-line momentum and margin improvement as more trials are conducted with the company's InForm product
BofA initiates Knight Capital (NITE 18.08) with a Buy and a $24 tgt
Credit Suisse upgrades Barners and Noble (BKS 40.14) to Outperform from Underperform to relfect factors including relative valuation and likelihood of an LBO event. The firm says that this stock appears to be one of the best positioned LBO type candidates in their universe at this time, combining consistent cash flow with relatively cheap valuation
Goldman downgrades Novellus (NVLS 34.53) to Sell from Neutral
CNI Canadian Natl Rail downgraded to Neutral from Buy at Merrill
BNI Burl Nrth Santa Fe downgraded to Neutral from Buy at Merrill
TSCM TheStreet.com initiated with a Buy at First Albany
ZLC Zale coverage resumed with a Sell at Merrill