Equity Brief: Ratings Changes for November 16th: ISRG, IVR, JBLU, JCI, JMI, KWK, LPL, MFA, MITT

Fri Nov 16, 2012 10:13am EST

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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:

SunTrust initiated coverage on shares of Intuitive Surgical, Inc. (NASDAQ: ISRG). They issued a buy rating on the stock and set a $598.00 price target.

Wells Fargo & Co. upgraded shares of Invesco Mortgage Capital Inc (NYSE: IVR) from a market perform rating to an outperform rating.

Goldman Sachs downgraded shares of Jetblue Airways Corp (NASDAQ: JBLU) from a neutral rating to a sell rating. Their analysts now have a $4.50 price target on the stock. They wrote, "We downgrade JBLU to Sell from Neutral, as the recent rally in shares has skewed the risks toward the downside. Shares of JBLU have outperformed our transportation coverage group by 5 ppt and the S&P by 10 ppt since September 28, as jet fuel prices have declined 7% over the same period. However, we believe softening traffic demand trends will more than offset the incremental cost savings. We cut our 4Q12 EPS estimate to $0.03 from $0.05 and reduce our 2013 EPS estimate by 8% to $0.55 on lower near-term traffic assumptions."

Zacks reiterated its underperform rating on shares of Johnson Controls, Inc. (NYSE: JCI). They have a $23.00 price target on the stock. Zacks' analyst wrote, "Johnson Controls Inc. is a leading supplier of automotive interiors, batteries and other control equipment. Although the company posted a marginal 1.3% rise in earnings per share in the fourth quarter of its fiscal year and beaten the Zacks Consensus Estimate by $0.02, it expects a year-over-year decline in earnings in the first half of fiscal 2013 due to weak end markets and adverse effects of foreign currency. We are also concerned about pricing pressure from OEMs and strong competition faced by the company. These have led us to continue with our Underperform recommendation on the stock with a target price of $23.00."

JMP Securities initiated coverage on shares of Javelin Mortgage Investment Corp (NYSE: JMI). They issued an outperform rating on the stock and set a $19.00 price target.

Macquarie upgraded shares of Quicksilver Resources Inc (KWK) from an underperform rating to a neutral rating. Macquarie now has a $2.50 price target on the stock.

Avian Securities downgraded shares of LG Display Co Ltd. (LPL) from a positive rating to a neutral rating. Their analysts now have a $15.00 price target on the stock.

Wells Fargo & Co. upgraded shares of MFA Financial, Inc. (MFA) from a market perform rating to an outperform rating.

Wells Fargo & Co. initiated coverage on shares of AG Mortgage Investment Trust (MITT). They issued an outperform rating on the stock.

Stifel Nicolaus upgraded shares of MKS Instruments, Inc. (MKSI) from a hold rating to a buy rating. Stifel Nicolaus now has a $29.00 price target on the stock.

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