A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/equitybriefdaily) and Equity Brief:
Evercore Partners initiated coverage on shares of DCT Industrial Trust Inc. (DCT). They issued an equal weight rating on the stock.
JPMorgan Chase downgraded shares of DuPont (DD) from an overweight rating to a neutral rating. Their analysts now have a $47.00 price target on the stock. They wrote, "We downgraded DuPont from Overweight to Neutral because we believe that we can probably find a better entry price into the shares given near-term and year-ahead EPS uncertainty. DuPont's EPS will have challenges to growth in 2013 and are likely to be substantially below our previous forecasts given the severity of falling TiO2 prices, weakness in the solar area, and surprisingly little resilience in DuPont's construction-related operations. We reduced our 2012 EPS forecast from $3.70 to $3.25 and our 2013 EPS projection from $4.50 to $3.55. For all of our EPS reductions, DuPont's earnings position remains quite uncertain for 2013 principally because of the difficulty in gauging the rate of decrease in TiO2 prices, operating rates and raw material costs. The 3Q:12 TiO2 result, when annualized, represents an earnings headwind of $0.40 per share versus our previous estimate for 2013. Importantly, the collateral effect of the TiO2 uncertainty is that DuPont's repurchase effort is probably stalled given DuPont's difficulty in estimating the earnings level of a segment that had accounted for about 30% of consolidated profits in the context of a weak economic environment."
Monness, Crespi, Hardt downgraded shares of DuPont (DD) from a buy rating to a neutral rating.
Zacks reiterated its neutral rating on shares of Diageo PLC (DEO). They have a $119.00 price target on the stock. Zacks' analyst wrote, "Diageo's organic revenues increased 5%, while volume grew 2% y/y in the first quarter of fiscal year 2013. Except Europe, all the regions delivered positive organic sales growth. Diageo reported earnings of $1.49 per share in the fiscal year 2012, which was up 13% y/y on the back of strong organic growth and margin expansion. Overall, we are encouraged with the strong performance of Johnnie Walker in all the markets coupled with company's penetration in the fast growing emerging markets through several strategic acquisitions, including the spirits company Mey Icki in Turkey, Ypi ca brand in Brazil and higher stake in Shuijingfang in China and Halico in Vietnam. Moreover, the company's intention to expand investment in scotch will prove fruitful for the company, going ahead. However, an uncertain macro economy, particularly in U.S. and Europe, coupled with the rising social concern against alcohol consumption keeps us on the sidelines. "
Evercore Partners downgraded shares of Digital Realty Trust, Inc. (DLR) from an overweight rating to an equal weight rating.
Goldman Sachs upgraded shares of Dollar Tree Inc (DLTR) from a neutral rating to a buy rating. Goldman Sachs now has a $48.00 price target on the stock.
FBR Capital upgraded shares of Eagle Bancorp, Inc. (EGBN) from a market perform rating to an outperform rating. FBR Capital now has a $21.00 price target on the stock, up previously from $18.00.
Stifel Nicolaus upgraded shares of Facebook (FB) from a hold rating to a buy rating. Stifel Nicolaus now has a $26.00 price target on the stock.
Citigroup upgraded shares of Facebook (FB) from a neutral rating to a buy rating. They wrote, "What investors have for the first time since the FB IPO is fundamentals acceleration WITH a reasonable valuation (30 P/E for 30% EPS growth). Further, two of the biggest FB risks (Zynga dependency and Mobile monetization) appear to have been down-sized. And we've still seen zero contribution from newer initiatives, eg gifts, FBX, etc. Yes, lockups loom, but we believe long-term investors can use weakness around said lockups as a way to leg into a fundamentals positive/valuation reasonable long."
Bank of America upgraded shares of Facebook (FB) to a buy rating.
Evercore Partners initiated coverage on shares of First Potomac Realty (FPO). They issued an equal weight rating on the stock.
JPMorgan Chase upgraded shares of First Industrial Realty Trust Inc (FR) from an underweight rating to a neutral rating. JPMorgan Chase now has a $14.00 price target on the stock. They wrote, "While FR still has a fair amount of de-leveraging to be done - which will likely be dilutive to earnings - we rate the shares Neutral as we believe leasing traction is improving, the company could be moving closer towards reinstating a stock dividend, and the stock trades at a significant discount to its peers."
CL King initiated coverage on shares of Francesca's (FRAN). They issued a buy rating on the stock.
Stay on top of analysts' coverage with Analyst Ratings Network's free daily email newsletter that provides a concise list of analysts' upgrades, downgrades and initiations. Register at http://bit.ly/equitybriefdaily
Content and Media Contact: [email protected]
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Equity Brief via Thomson Reuters ONE
HUG#1652006
