Up/Downgrades (ALK, DAL, EMC, JBLU, MOH, RTN, ROK, SPF, UAL, VOD, WCG, KND, NHC, OSK, SKH, SUNH, VE)
Published on Monday, 01 August 2011 08:11 Written by Danny Miller
New York, August 1st (TradersHuddle.com) – Following are some of the top upgrades and downgrades before the market open.
Alaska Air (NYSE:ALK), the Airline serving destinations within the state of Alaska and the West Coast of the United States, was upgraded to a Buy from Hold at Dahlman Rose. The firm set its target price at $75 based on the airline’s clean balance sheet.
Delta Air Lines (NYSE:DAL), the world’s second largest airline, was upgraded to a Buy from Hold at Dahlman Rose. The firm set its target price at $10 based on the deleveraging of their balance sheet, and saying in Delta's most recent investor update, management indicated that it would reduce capacity by 4% to 5% in the fourth quarter of this year to combat rising jet fuel costs.
EMC Corp. (NYSE:EMC), the provider of enterprise storage systems, software, networks, and services, was upgraded to Outperform from Perform at Oppenheimer. The firm set its target price at $32.
JetBlue (NASDAQ:JBLU), the New York based discount airline, was upgraded to a Hold from Sell at Dahlman Rose based on valuation.
Molina Healthcare (NYSE:MOH), the managed care company focused on Medicaid and Medicare recipients, was upgraded to a Neutral from Reduce at Citadel.
RadioShack (NYSE:RSH), the consumer electronics goods retailer, was upgraded to a Buy from Neutral at Goldman Sachs, with the firm also adding the stock to its Conviction Buy List.
Raytheon (NYSE:RTN), the technology leader specializing in defense, homeland security and other government markets, was upgraded to Outperform from Market Perform at Bernstein.
Rockwell Automation (NYSE:ROK), the provider of industrial automation power, control, and information solutions, was upgraded to Outperform from Neutral at Robert W. Baird. The firm lowered its target price to $90 from $92.
Standard Pacific Corp. (NYSE:SPF) was upgraded to a Buy from Neutral at UBS.
United Continental (NYSE:UAL), the world’s largest airline, was upgraded to a Buy from Hold at Dahlman Rose. The firm set its target price at $24 based on deleveraging of their balance sheet, capacity reductions and merger synergies.
Vodafone PLC (NYSE:VOD), the largest provider in the world in terms of revenue of wireless telecommunications, was upgraded to a Buy from Neutral at UBS.
WellCare Group (NYSE:WCG) was upgraded to Add from Neutral at Citadel.
Kindred Healthcare (NYSE:KND) was downgraded to Sector Perform from Outperform.
National Healthcare (NYSE:NHC) was downgraded to Market Perform at Morgan Keegan. The firm lowered its target price to $41 from $55.
Oshkosh Truck (NYSE:OSK), the maker of heavy duty all wheel drive defense or military trucks, aircraft or emergency rescue and firefighting vehicles, was downgraded to Reduce from Neutral at SunTrust.
Skilled Healthcare (NYSE:SKH) was downgraded to Sector Perform from Outperform at RBC Capital. Skilled Healthcare was also downgraded to Market Perform at Morgan Keegan, with the firm slashing its target price to $6.75 from $14.
Sun Healthcare (NASDAQ:SUNH), the operator of nursing, long-term care and assisted living facilities, was downgraded to Underperform from Outperform at Oppenheimer, as the firm noted that CMS its 2012 SNF final rule, which will cut Medicare rates 11.1% beginning Oct-2011. Sun Healthcare was also downgraded to Market Perform at Morgan Keegan, with the firm slashing its target price to $4 from $11.
Veolia Environnement (NYSE:VE) was downgraded to a Neutral from Buy at Goldman Sachs.