Equity Brief: Ratings Changes for October 10th: AVB, BAH, BIIB, CCE
A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/equitybriefdaily) and Equity Brief:
RBC Capital downgraded shares of AvalonBay Communities, Inc. (AVB) from a top pick rating to an outperform rating. Their analysts now have a $158.00 price target on the stock.
Lazard Capital downgraded shares of Booz Allen Hamilton Holding Co. (BAH) from a neutral rating to a sell rating. Their analysts now have a $10.00 price target on the stock.
Zacks downgraded shares of Biogen Idec Inc. (BIIB) from an outperform rating to a neutral rating. Their analysts now have a $159.00 price target on the stock. Zacks' analyst wrote, "Biogen's second quarter EPS of $1.82 was well above the Zacks Consensus Estimate of $1.56 and the year-ago EPS of $1.35. Higher revenues and a lower share count boosted earnings. Revenues increased 17.6% to $1.4 billion, well above the Zacks Consensus Estimate of $1.3 billion. Biogen increased its earnings outlook for 2012 and now expects EPS to exceed $6.20. Key products, Avonex and Tysabri, should continue contributing significantly to sales. BG-12 should help drive long-term growth. We are also pleased with Biogen's efforts to streamline its pipeline. However, we believe all these positive factors are already reflected in the stock price and are, therefore, moving back to a Neutral recommendation. We expect competition in the MS market to increase with the recent approval of Sanofi's Aubagio. "
Argus raised its price target on shares of Coca-Cola Enterprises (CCE) from $34.00 to $36.00. They have a buy rating on the stock.
Credit Agricole downgraded shares of Coca-Cola Enterprises (CCE) from a buy rating to an outperform rating. Their analysts now have a $36.00 price target on the stock, up previously from $33.00.
Capital One upgraded shares of Continental Resources, Inc. (CLR) from a neutral rating to a neutral rating.
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