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Equity Brief: Ratings Changes for October 16th: RVBD, S, SAFM, SIRI
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:
Citigroup downgraded shares of Riverbed Technology, Inc. (RVBD) from a buy rating to a neutral rating. Their analysts now have a $23.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
Bernstein upgraded shares of Sprint Nextel (S) from an underperform rating to a market perform rating. Bernstein now has a $6.00 price target on the stock.
Hudson Square Research downgraded shares of Sprint Nextel (S) from a buy rating to a hold rating.
Robert W. Baird upgraded shares of Sprint Nextel (S) from an underperform rating to a neutral rating. Robert W. Baird now has a $6.00 price target on the stock, up previously from $4.00.
Sidoti initiated coverage on shares of Sanderson Farms (SAFM). They issued a buy rating on the stock.
Morgan Stanley raised its price target on shares of Sirius XM Radio Inc. (SIRI) from $2.60 to $2.85. They have an equal weight rating on the stock. They wrote, "Remain EW as valuation reflects solid fundamental outlook: SIRI continues to benefit from 1) YoY growth in auto sales, 2) a price increase that appears to be flowing into the sub base without major resistance, and 3) attractive incremental margins. Following better than expected 3Q sub growth (preannounce of +446K vs. +385K est), we are raising our estimates and PT. Our forecast now assumes 14.25M SAAR in 4Q12 and 2012 (rising to 15M in 2015E), and implies 1.85M net sub adds this year, modestly above revised 1.8M guidance. We are ~4% above '12 adj. EBITDA guidance of $900M."
Credit Suisse initiated coverage on shares of Schlumberger (SLB). They issued a neutral rating on the stock and set a $66.00 price target. They noted that the move was a valuation call. They noted that the move was a valuation call.
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Source: Equity Brief via Thomson Reuters ONE
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