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Equity Brief: Ratings Changes for December 13th: SIX, SLAB, SNTA, SXC, TIE, TSO, UTHR, V


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Copyright © Thomson Reuters 2012. All rights reserved.
2012-12-13 16:30:13 -

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:

Miller Tabak raised its price target on shares of Six Flags Entertainment Corp
(SIX) to $70.00. They have a buy rating on the stock. They wrote, "Yesterday,
Six Flags (SIX: $62.71) announced that the company has priced $800 million of
senior unsecured notes due 2021 at 5.25% while last week Six Flags successfully
refinanced $600 million of its senior secured credit facility and lowered its
borrowing rate by 0.25% to Libor plus 3.0%. The company expects to use the
proceeds from the offering to prepay $350 million of its currently outstanding
senior secured loans as well as to purchase $500 million of stock through 2015,
which is 
incremental to the $82 million currently available under the buyback program approved in January 2012. The close of the senior unsecured note offering is expected to occur on December 21, 2012 concurrently with the close of the amended senior secured credit facility." Citigroup raised its price target on shares of Silicon Laboratories (SLAB) from $48.00 to $57.00. They have a buy rating on the stock. They wrote, "We increase C13 EPS to $2.66 from $2.43 with 6.5% higher sales and 50bps lower GM contributing to the variance. . We believe higher multiples are now appropriate for SLAB given: a) demonstrated above average and macro independent sector growth rates; and b) acquisition premium." Brean Murray initiated coverage on shares of Synta Pharmaceuticals Corp. (SNTA). They issued a buy rating on the stock and set a $12.00 price target. BB&T downgraded shares of Suncoke Energy Inc (SXC) from a buy rating to a hold rating. JPMorgan Chase downgraded shares of Titanium Metals Corp (TIE) from an overweight rating to a neutral rating. Their analysts now have a $16.50 price target on the stock, down previously from $17.00. Credit Suisse upgraded shares of Tesoro Co. (TSO) from a neutral rating to an outperform rating. Credit Suisse now has a $60.00 price target on the stock, up previously from $53.00. Goldman Sachs downgraded shares of United Therapeutics (UTHR) from a neutral rating to a sell rating. Their analysts now have a $50.00 price target on the stock. Oppenheimer raised its price target on shares of Visa Inc. (V) from $150.00 to $170.00. They have an outperform rating on the stock. B. Riley downgraded shares of Veeco Instruments Inc. (VECO) from a buy rating to a neutral rating. Their analysts now have a $31.00 price target on the stock, down previously from $35.00. 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#1664807]


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