2012-10-11 16:31:12 -
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:
Howard Weil upgraded shares of Lufkin Industries Inc (LUFK) from a market
perform rating to an outperform rating. Howard Weil now has a $8.00 price target
on the stock, up previously from $7.50.
Goldman Sachs downgraded shares of Marriott (MAR) from a buy rating to a neutral
Barclays Capital initiated coverage on shares of Moodys Corporation (MCO). They
issued an equal weight rating on the stock and set a $50.00 price target.
Zacks downgraded shares of The Medicines Compan (MDCO) from an outperform rating
to a neutral rating. Their analysts now have a $25.00 price target on the stock.
Zacks' analyst wrote, "The Medicines Co. reported second
quarter EPS of $0.38,
well above the year-ago EPS of $0.18. We expect Angiomax to continue performing
well. The settlement agreements regarding Angiomax are also positive events.
Moreover, we are pleased to see management actively pursuing in-licensing deals
and acquisitions to drive growth. The AstraZeneca deal is a smart move by the
company. We are also pleased with the signing of the GAIN Act, which should
ensure an additional five years of exclusivity for oritavancin. While we are
pleased with the company's efforts to develop its pipeline, we were disappointed
to hear about the discontinuation of the development of phase II candidate,
MDCO-2010. Shares were down more than 5% on the news. We are moving back to a
Neutral recommendation on the stock. We prefer to remain on the sidelines until
we see data on oritavancin and Cangrelor."
Zacks upgraded shares of Medivation Inc (MDVN) from an underperform rating to a
neutral rating. Zacks now has a $58.00 price target on the stock. Zacks' analyst
wrote, "Medivation received a major boost in late August when the FDA approved
the company's prostate cancer treatment, Xtandi, several months ahead of the
target date. Xtandi, which was launched in the US in September, could very well
be a game-changer for Medivation. The prostate cancer market represents huge
commercial potential. The company has consistently presented impressive data on
Xtandi. Based on the data we have seen so far, we believe the product has
blockbuster potential. We are upgrading Medivation to Neutral. We expect
investor focus to remain on the commercialization of Xtandi. We would be more
positive on the name once we gain visibility on the launch trajectory.
Medivation holds a Zacks #3 Rank (short-term Hold' rating). "
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