2012-10-10 16:36:15 -
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:
Piper Jaffray upgraded shares of Ralph Lauren (RL) from a neutral rating to an
overweight rating. Piper Jaffray now has a $185.00 price target on the stock, up
previously from $158.00. They wrote, "It is our view that we are in an apparel
replenishment cycle and we believe this new cycle is ushering in a new uniform
which we are defining as a "preppy, refined classics" look. Given the strength
of the Ralph Lauren brand across multiple lifestyle categories in addition to
its iconic brand DNA that is rooted in authentic American heritage and refined
classics, we believe RL is positioned to gain disproportionate share in
cycle. . We believe RL shares warrant a premium multiple given that it is a
best-in-class lifestyle brand that is benefiting from growth across multiple
categories, multiple geographies and continued retail expansion."
Sidoti downgraded shares of Rush Enterprises, Inc. (RUSHA) from a buy rating to
a neutral rating. Their analysts now have a $22.00 price target on the stock.
Lazard Capital downgraded shares of SAIC, Inc. (SAI) from a buy rating to a
Cantor Fitzgerald upgraded shares of Shutterfly (SFLY) from a hold rating to a
buy rating. Cantor Fitzgerald now has a $33.00 price target on the stock. They
wrote, "We're upgrading SFLY to BUY from HOLD following a 16% drop in the stock
price since initiation, offering a mid-teens upside to our $33 PT.
Fundamentally, we like the story as it offers one of the best plays on growth in
online consumer print and a track record of solid execution within an improving
competitive dynamics. . With HP in the midst of a major reorganization,
Shutterfly's closest competitor, Snapfish (owned by HP) is likely to be less
promotional this holiday season than last year's. In fact, Snapfish's promotions
over the past six months have been below peak level."
Bank of America downgraded shares of SkyWest, Inc. (SKYW) from a neutral rating
to an underperform rating. Their analysts now have a $9.00 price target on the
stock. They wrote, "Over the past 3 months, SKYW's share price has climbed more
than 60%, and SKYW's multiples on pretax earnings (9X our 2012E) and EBITDAR
(5.4X our 2012E) now trade at a substantial premium to the major US airlines (on
average 6X earnings and 4.4X EBITDAR 2012 estimates), yet we think that SKYW's
EPS lacks the upside earnings leverage of its partner airlines. We maintain our
$9 P.O. and downgrade our rating to Underperform from Neutral."
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