STOCKS NEWS US-KBW raises price targets on asset managers

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1005 ET 15June2009-KBW raises price targets on asset managers
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Keefe Bruyette & Woods on Monday raised its price target on five U.S. asset
managers, expecting the group's results to be helped by a rebound in equity and
fixed income markets.

As part of its call, it also upgraded Affiliated Managers Group (AMG.N).

The firm wrote that equity fund flows have rebounded with a sharp rally in
equity markets, while fixed income flows are expected to remain relatively
robust, given comparatively high yields and concerns over rising taxes.

"Net flows trends continue to show signs of life, helped, we believe, by
moderating redemption trends," it added.

Shares of Affiliated Managers rose 1.5 percent to $59.39.

For details, see [ID:nBNG444041]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0959 ET 15June2009-Geithner: rebound will take more time than usual
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U.S. Treasury Secretary Timothy Geithner on Monday said that the the
financial system was beginning to thaw but any renewed pick-up in the economy
would likely be slower than usual.

"Recovery will be slower than we would normally see," Geithner said at an
event sponsored by Time Warner. "This is still going to be an exceptionally
challenging time for business and consumers."

He added that unemployment will likely continue rising even as economic
growth resumes. For more details see [ID:nNAT006979]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0954 ET 15June2009-Goldman adds Target to conviction buy list
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Goldman Sachs on Monday added Target Corp (TGT.N) to its conviction buy
list, expecting significant earnings momentum for the retailer after the fourth
quarter. The company will benefit from improving trends in same-store sales,
gross margins and credit portfolios, it wrote.

"As Target works to convince consumers of its compelling value, improves
its store execution and grows its traffic driving categories (food), we believe
sales across discretionary have a better chance of rebounding here soon," the
firm wrote.

For details, see [ID:nBNG300087]

Shares fell 1.8 percent to $39.64.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0948 ET 15June2009-Jazz Pharma soars after comments on drug trial
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Shares of Jazz Pharmaceuticals (JAZZ.O) soared on Monday, after the company
said its experimental treatment for fibromyalgia significantly reduced pain
compared to the dummy drug in a late-stage trial.

The company said the drug showed statistically significant and clinically
meaningful improvement in pain and the core symptoms associated with
fibromyalgia.

For details, see [ID:nBNG495928]

Shares soared 48 percent to $3.92.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0944 ET 15June2009-Fed's Tarullo says community banks may be at risk
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Fed Board Governor Daniel Tarullo on Monday said that community banks could
be vulnerable in the current environment because of their increased exposure to
commercial property.

He said that the local lenders had made more commercial loans, upped
leverage levels and relied more on less reliable sources of funding.

"These changes in business strategy, which undoubtedly helped to maintain
community bank profitability over much of the part two decades, may in the
current financial environment exacerbate the risks faced by community banks,"
he told the North Carolina Bankers Association in prepared remarks.

For details, see [ID:nWEQ001099]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net