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Equity Brief: Ratings Changes for December 21st: MGA, MHK, MLNX, MX, MYGN, NKE, NLSN, NYMT


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Copyright © Thomson Reuters 2012. All rights reserved.
2012-12-21 16:28:00 -

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:

Guggenheim initiated coverage on shares of Magna International Inc. (MGA). They
issued a neutral rating on the stock.

Cleveland Research upgraded shares of Mohawk Industries, Inc. (MHK) from a
neutral rating to a buy rating.

Maxim Group downgraded shares of Mellanox Technologies, Ltd. (MLNX) from a buy
rating to a hold rating.

Needham & Company initiated coverage on shares of MagnaChip Semiconductor Co.
(MX). They issued a strong-buy rating on the stock and set a $24.00 price
target.

Zacks upgraded shares of Myriad Genetics (MYGN) from a neutral rating to an
outperform rating. Zacks now has a $33.00 price target on the stock. Zacks'
analyst wrote, "Myriad geared into fiscal 
2013 on a positive note with EPS of $0.36 (up 24%) and revenues of $133.4 million (up 21%) both sailing past the Zacks Consensus Estimates of $0.32 and $130 million respectively. Accordingly, the company raised its fiscal 2013 guidance which is another positive takeaway. Myriad's flagship product, Bracanalysis, continued to record robust growth while BART test emerged as a major catalyst to accelerate growth in the future. The company strategy of pipeline development and expanding into Europe is also encouraging. Besides, a strong cash balance enables the company to repurchase shares, expand into new markets and launch more products. Based on the strong growth potential of Myriad, we upgrade the stock to Outperform. " DA Davidson reiterated its neutral rating on shares of NIKE, Inc. (NKE). They have a $104.00 price target on the stock. They wrote, "NIKE reported revenue and EPS of $5.955 billion and $1.14, versus consensus of $5.970 billion and $1.00 and our estimates of $5.993 billion and $1.02. Gross margin declined 36bp year- over-year (y/y) to 42.5%, but was better than guidance of down ~75bp. Gross margin benefitted from pricing and materials costs, offset by higher labor costs, unfavorable currency headwinds and negative mix shift. SG&A of $1.836 billion grew 6.1% y/y and came in $44 million below our estimate...We are maintaining our NEUTRAL rating and raising our price target to $108 (previously $104), based on 18x our revised FY14 EPS estimate of $6.02. We believe NKE deserves its premium valuation, but the combination of limited upside to our target and heightened end-market uncertainty in several regions leaves us on the sidelines for now." Janney Montgomery Scott downgraded shares of NIKE, Inc. (NKE) from a buy rating to a neutral rating. Benchmark Co. raised its price target on shares of Nielsen Hldg (NLSN) from $34.00 to $36.00. They have a buy rating on the stock. Deutsche Bank initiated coverage on shares of New York Mortgage Trust, Inc. (NYMT). They issued a buy rating on the stock and set a $7.25 price target. Keefe, Bruyette & Woods downgraded shares of NYSE Euronext (NYX) from an outperform rating to a market perform rating. 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#1667149]


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