2008-10-07 12:20:00 -

- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Coca-Cola Hellenic Bottling Company (NYSE: CCH), Semiconductor Manufacturing International (NYSE: SMI), Infineon (NYSE: IFX), Motorola (NYSE: MOT) and Priceline.com (Nasdaq: PCLN).

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Here are highlights from Monday's Analyst Blog:

Coca-Cola Hellenic Upped to Buy

Coca-Cola Hellenic Bottling Company (NYSE: CCH) enjoys an attractive geographic mix with 66% of revenues being derived from developing or emerging markets. In addition, the company's product mix is less dependent on CSDs (carbonated soft drinks) than other bottlers.

Since the company conducts business and reports financial results in Euros, much of the stock's performance is inversely correlated with US dollar's exchange rate with the Euro. However, as management has a sound business strategy and proven execution skills, the recent earnings decline is providing a valuation-based buying opportunity. Therefore, the stock has been upgraded to a Buy.

SMI Reflects Pullback in Semis

Semiconductor Manufacturing International (NYSE: SMI) is a Chinese semiconductor foundry company with multiple integrated chip wafer fabrication plants. SMI is the largest foundry company in China (third largest worldwide) and operates multiple plants and fabrication (fab) lines. Strategic alliances with Chartered, Toshiba, Infineon (NYSE: IFX), Fujitsu, Motorola (NYSE: MOT), Elpida and IMEC have provided access to intellectual property (IP) associated with a variety of semiconductor process technologies.

We remain concerned regarding operational performance in the near-term given severe price declines in DRAM. The firm has announced they plan to exit the DRAM business. We believe shares are currently fairly valued and expect them to trade at current valuation metrics. We continue to rate shares of SMI a Hold.

Priceline Downgraded from Buy

Priceline.com (Nasdaq: PCLN) offers customers the ability to make hotel reservations worldwide primarily under the Booking.com and Agoda brands internationally and the Priceline.com brand in the U.S.

Slowing economic growth domestically and around the globe is negatively affecting Priceline.com's results. Macro conditions have worsened in recent months, and problems in the credit markets are making economic conditions more difficult.

Due to slowing economic growth in Priceline's domestic and international markets, we are reducing our estimates for the second half of 2008 and full-year 2009. Our 2008 EPS estimate goes from $5.76 to $5.43 and our 2009 EPS estimate goes from $7.16 to $6.34.

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