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Equity Brief: Ratings Changes for December 12th: ACI, AGU, ALNY, AMT, ANR, BBG, BXP, CG


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Copyright © Thomson Reuters 2012. All rights reserved.
2012-12-12 17:31:18 -

A number of stocks were upgraded and downgraded by equities research analysts
today, as reported by Analyst Ratings Network ( bit.ly/equitybriefdaily)
and Equity Brief:

Tudor Pickering upgraded shares of Arch Coal, Inc. (ACI) from an accumulate
rating to a buy rating.

Goldman Sachs initiated coverage on shares of Agrium (AGU). They issued a
neutral rating on the stock and set a $108.00 price target. They wrote,
"Following strong 2012 outperformance (AGU +48% vs. Fertilizer peers +17% and
the S&P +13%) we see a more balanced risk/reward entering 2013 as peaking
nitrogen fundamentals offset potential for improved execution/margin upside at
Retail. We would prefer a more attractive entry point on current fundamentals to
become more positive on shares, with the roadmap to a Retail re-rating unclear,
in our view, as operating metrics are 
already close to in line with a broad range of industrial distribution peers. Additional visibility on long-term capital deployment would also be a source of upside to our forecasts." Piper Jaffray upgraded shares of Alnylam Pharma (ALNY) from a neutral rating to an overweight rating. Piper Jaffray now has a $25.00 price target on the stock, up previously from $19.00. Zacks reiterated its neutral rating on shares of American Tower Corporation (AMT). They have a $79.00 price target on the stock. Zacks' analyst wrote, "American Tower reported strong financial results for the third quarter of 2012 as earnings per share easily beat the Zacks Consensus Estimate. The top line also witnessed significant upside due to higher demand for wireless broadband data services coupled with American Tower's global expansion strategy. American Tower continues its strong performance driven by substantial demand for tower space to facilitate high-speed wireless data and on demand video services, along with super-fast 3G/4G technologies. Massive demand for wireless data and video throughout the world will boost American Tower's long-term growth. Nevertheless, the stock has soared nearly 32% in the last year and currently trading at the high-end of the 52-week price range, which may restrict above market gain anytime soon. We believe American Tower is currently fairly valued and therefore, reiterate our long-term Neutral recommendation." Tudor Pickering upgraded shares of Alpha Natural Resources (ANR) from a hold rating to an accumulate rating. SunTrust upgraded shares of Bill Barrett Corp (BBG) from a neutral rating to a buy rating. SunTrust now has a $28.00 price target on the stock, up previously from $24.00. Stifel Nicolaus downgraded shares of Boston Properties (BXP) from a buy rating to a hold rating. They noted that the move was a valuation call. They noted that the move was a valuation call. Bank of America initiated coverage on shares of Carlyle Group LP (CG). They issued a neutral rating on the stock and set a $26.00 price target. They wrote, "We are initiating coverage of Carlyle with a Neutral rating and a $26 PO. Carlyle is one of the leading alternative asset managers in the industry, with a diversifying product mix spanning corporate private equity (CPE), real assets (RA), global market strategies (GMS), and fund-of-funds solutions (FoF/AlpInvest). While CG is well positioned over the long run given its strong performance, impressive fundraising, and an expected pick up in distributions, given its fair valuation, more reliance on incentive income with some areas of mixed performance, and a revenue mix that is more concentrated than its asset mix, we see limited upside." HSBC initiated coverage on shares of Colgate-Palmolive Company (CL). They issued an overweight rating on the stock. Stay on top of analysts' coverage with Analyst Ratings Network's free daily email newsletter that provides a concise list of analysts' upgrades, downgrades and initiations. Register at bit.ly/equitybriefdaily Content and Media Contact: newseditor@equitybrief.net This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Equity Brief via Thomson Reuters ONE [HUG#1664477]


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