Intuitive Surgical (NASDAQ:ISRG): JMP Securities has downgraded Intuitive Surgical to Market Perform from Outperform after the company warned that its second quarter results would fall far below estimates. JMP joins a number of other firms that downgraded or reduced their estimates on Tuesday.
CBS Corp. (NYSE:CBS): JPMorgan expects healthy ad trends and improved ratings to drive strong second quarter results for CBS, and has raised its price target to $58 from $52. It keeps an Overweight rating on the shares.
Sprint Nextel Corp. (NYSE:S): Cowen has upgraded Sprint to Outperform from Market Perform. The firm has increased confidence in Sprint’s margin improvement that will come from either Softbank and/or Network Vision cost synergies. The firm established an $8 price target based on robust free cash flow expected in 2015.
Starbucks Corp. (NASDAQ:SBUX): Argus believes that Starbucks’s guidance for mid-single-digit comp growth for 2013 is conservative, and has increased its fiscal year 2013 earnings per share estimate for Starbucks above the company’s guidance range. It expects the company to benefit from new beverages and single-serve products, and keeps a Buy rating on the shares.