Stock Downgrades: Energizer in Need of New Batteries

By Justin Sharon  NOV 06, 2012 9:15 AM

Wall Street ratings agencies set the tone for today's stock market.


MINYANVILLE ORIGINAL KBW Inc. (KBW), whose Keefe Bruyette & Woods suffered so much in the World Trade Center, rose 7.18% after being bought for $575 million and Time Warner Cable (TWC), whose own twin towers went up at around the exact same time, slumped 6.36% after announcing earnings. (Many more similar showings, and they’ll soon be forced to adopt tacky measures to raise revenue.)
With all eyes on the Electoral College, Corinthian Colleges (COCO) nosedived 9.49% even as a record number of Americans are earnings bachelor's. (Lovesick bachelors fared no better, with owner IAC/InterActive (IACI) tumbling 2.86%.)
No top-tier economic data due today, but earnings announcements are expected out of AOL Inc. (AOL), BMW Group (BAMXY), CVS Caremark (CVS), InterContinental Hotels (IHG), News Corp (NWSA), NYSE Euronext (NYX), and Office Depot (ODP).
American Science & Engineering (ASEI): Shares are downgraded to Hold from Buy at Benchmark, as there is now less likelihood of the company winning the Iraqi FMS order.
BioMarin Pharmaceutical (BMRN): The name is now Hold from Buy at Brean Capital.
Energizer Holdings (NYSE:ENR): The maker of alkaline, rechargeable, and lithium batteries is moved to Market Perform from Outperform by Sanford Bernstein. The target price gets taken to $80 from $84.
Express Scripts (ESRX): Shares, falling 14% before the bell, get downgraded to Hold from Buy at Jefferies after management called 2013 consensus expectations overly aggressive.
Home Properties (HME): HME is downgraded to Underperform from Sector Perform at RBC Capital.
Precision Drilling (PDS): The stock is now Hold from Buy at Jefferies.
ServiceSource International (SREV): Shares get downgraded to Hold from Buy at Deutsche Bank.
Standard Chartered (SCBFF): The stock is lower in London today after Credit Suisse cut it to Underperform from Neutral.
TW Telecom (TWTC): Shares are taken to Underperform from Market Perform at FBR Capital, whose new lower target is $20. Recent enterprise demand checks are concerning.

(See also: New Stock Coverage: Kite Realty Can Fly High and Stock Upgrades: Chipotle Mexican Grill Shares Set to Head North.)
No positions in stocks mentioned.

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