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:
CIBC downgraded shares of Thompson Creek Metals Co Inc (TC) from an outperform rating to an outperform rating.
Evercore Partners initiated coverage on shares of DealerTrack Holdings, Inc. (TRAK). They issued an overweight rating on the stock.
UBS AG initiated coverage on shares of Trinity Industries, Inc. (TRN). They issued a buy rating on the stock.
Jefferies Group upgraded shares of Titan International Inc (Illinois) (TWI) from a hold rating to a buy rating. They wrote, "TWI shares have been hit by worries about its NA ag and mining end markets, as well as the impact of its mining tire capacity expansion on margins. However, we believe that worries about the earnings trajectory are overdone for now and that earnings, a potential guidance update, and more discussion of the company's Titan Europe acquisition could be positive catalysts."
Ascendiant Capital Markets downgraded shares of Travelzoo Inc. (TZOO) from a buy rating to a neutral rating. Their analysts now have a $21.00 price target on the stock, down previously from $27.00. They wrote, "We are increasingly concerned about Travelzoo's near term outlook. Revenue growth has slowed, and it now appears that the company will have to invest significantly in marketing and product development. An increasingly competitive daily deals business is likely to continue, and the company's entry into hotel bookings (OTA) is full of uncertainties as that market is already dominated by several much larger and entrenched competitors. . Lowering our rating to NEUTRAL from BUY, and our 12- month price target to $21 from $27, which reflects a forward P/E of 13x our new 2013 EPS estimate of $1.36 plus $3/share in cash."
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