Equity Brief: Ratings Changes for December 3rd: ONB, OXY, PRE, QLGC, RATE, RDS.A, RGC, RIMM
2012-12-03 16:21:55 -
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:
Macquarie upgraded shares of Old National Bancorp (ONB) from a neutral rating to
an outperform rating. Macquarie now has a $13.00 price target on the stock.
Deutsche Bank downgraded shares of Occidental Petroleum Co. (OXY) from a buy
rating to a hold rating. Their analysts now have a $80.00 price target on the
stock, down previously from $95.00.
UBS AG downgraded shares of PartnerRe (PRE) from a buy rating to a neutral
rating. Their analysts now have a $84.00 price target on the stock, up
previously from $79.00.
Goldman Sachs downgraded shares of QLogic Co. (QLGC) from a neutral rating to a
Canaccord Genuity downgraded shares of Bankrate (RATE) from a buy rating to a
hold rating. Their analysts now have a $14.00 price target on the stock, down
previously from $16.00.
RBC Capital downgraded shares of Bankrate (RATE) from an outperform rating to a
sector perform rating. Their analysts now have a $13.00 price target on the
stock, down previously from $15.00.
Deutsche Bank downgraded shares of Royal Dutch Shell (RDS.A) from a buy rating
to a hold rating.
JPMorgan Chase downgraded shares of Regal Entertainment (RGC) from an overweight
rating to a neutral rating.
Canaccord Genuity downgraded shares of Research In Motion (RIMM) from a hold
rating to a sell rating. Their analysts now have a $10.00 price target on the
Wunderlich raised its price target on shares of Redwood Trust Inc (RWT) from
$15.00 to $20.00. They have a buy rating on the stock. They wrote, "Our price
target of $20 per share assumes that RWT shares trade at a 35% premium to
estimated year end 2013 book value of $13.85 per share. The increase in book
value reflects earnings retained above the $1.28 indicated dividend, plus modest
accretion from the issuance of common shares through the DSPP. Our Buy rating
reflects our opinion that the shares of RWT will outperform those of other
mortgage REITs, as well as many other companies engaged in housing finance, as
housing finance reform grinds inexorably forward."
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