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:
RBC Capital initiated coverage on shares of Qlik Technologies Inc (QLIK). They issued a sector perform rating on the stock and set a $23.00 price target.
RBC Capital upgraded shares of Ryder System, Inc. (R) from an outperform rating to a top pick rating. RBC Capital now has a $68.00 price target on the stock, up previously from $55.00.
Credit Suisse upgraded shares of Royal Dutch Shell (RDS.A) from a neutral rating to an outperform rating.
Citigroup downgraded shares of Rigel Pharmaceuticals, Inc. (RIGL) from a buy rating to a neutral rating.
Keefe, Bruyette & Woods upgraded shares of Raymond James (RJF) from a market perform rating to an outperform rating. Keefe, Bruyette & Woods now has a $44.00 price target on the stock, up previously from $41.00.
SunTrust initiated coverage on shares of Rockwood Holdings, Inc. (ROC). They issued a buy rating on the stock and set a $53.00 price target.
UBS AG raised its price target on shares of The Boston Beer Company, Inc. (SAM) from $99.00 to $111.00. They have a sell rating on the stock.
Goldman Sachs reiterated its sell rating on shares of The Boston Beer Company, Inc. (SAM). They have a $123.00 price target on the stock. They wrote, "SAM issued a press release after the close, raising its 2012 EPS guidance to $4.30-$4.60 from $3.80-$4.20 (GS at $4.20 and consensus at $4.18), driven by higher shipment volume and SG&A timing. The company also increased 2012 depletion guidance to 11-13% from 8-10% prior and 2013 depletion growth projections to 10-15% from prior high single-digit guidance. We raise our estimates to reflect higher volume growth."
Janney Montgomery Scott initiated coverage on shares of SAP Aktiengesellschaft (SAP). They issued a buy rating on the stock.
Zacks reiterated its neutral rating on shares of Sears Holdings Corp (SHLD). They have a $44.00 price target on the stock. Zacks' analyst wrote, "Sears Holdings' third-quarter 2012 adjusted loss of $1.99 per share was narrower than the loss per share of $2.55 reported in the year-ago quarter. The favorable bottom-line comparisons from last year resulted from Sears' ongoing cost reduction initiatives, which helped to lower selling and administrative expenses during the quarter, offset by a decline in sales that impacted gross profits. Further, we believe that lowering of stake in Sears Canada and divestment of Hometown business will strengthen its liquidity position while boosting its future growth prospect. Sears has been focusing on improving margins through leverage on buying and occupancy expenses. However, we remain cautious over the company's Kmart stores' performances which were significantly hit by Wal-Mart and dollar stores' aggressive pricing and expansion strategies. Moreover, intense competition and exposure to adverse foreign currency translations may undermine Sears' future operating performance. Currently, we are maintaining a long-term Neutral recommendation on the stock."
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