Bank Analysts Changed These Stock Ratings August 26th

Wall St. Watchdog reveals information about companies for which stock analysts issued ratings changes on August 26th:

Upgrades

  • Cloud Peak Energy (NYSE:CLD): Dahlman Rose upgraded its rating on this company from Hold to Buy and changed its price target to $24.  About the company: Cloud Peak Energy, Inc. is a coal mining company. The Company’s operations include surface coal mines in Wyoming and in Montana. Cloud Peak produces sub-bituminous steam coal with low sulfur content and sells its coal primarily to electric utilities.
  • First Solar (NASDAQ:FSLR): Collins Stewart upgraded its rating on this company from Neutral to Buy and changed its price target to $132.  About the company: First Solar, Inc. designs and manufactures solar modules. The Company uses a thin film semiconductor technology to manufacture electricity-producing solar modules.

Coverage Initiated

  • Insituform Tech (NASDAQ:INSU): Boenning & Scattergood initiated coverage of this company with a rating of Outperform and a price target of $23.  About the company: Insituform Technologies, Inc. provides cured-in place pipe and other technologies and services for the rehabilitation of pipeline systems. The Company’s businesses consist of sewer, drinking water and energy and mining pipeline rehabilitation and protection. Insituform services customers worldwide.
  • Francesca’s (FRAN): Wedbush initiated coverage of this company with a rating of Outperform and a price target of $28.  About the company: Francesca’s Holdings Corporation (Holdings) is a holding company. The Company’s business operations are conducted through its wholly owned indirect subsidiary, Francesca’s Collections, Inc. (Francesca’s Collections). Holdings operates under its trademark, francesca’s collections.
  • First Republic Bank (NYSE:FRC): RBC Capital Mkts initiated coverage of this company with a rating of Sector Perform and a price target of $28.  About the company: First Republic Bank and its affiliated companies provide a wide range of banking services. The Bank offers private banking, private business banking and private wealth management, including investment, trust and brokerage services, in major metropolitan areas throughout the United States.
  • Resolute Energy (NYSE:REN): Morgan Keegan initiated coverage of this company with a rating of Outperform and a price target of $19.  About the company: Resolute Energy Corporation explores for and produces oil and natural gas. The Company operates in the southern and western United States.

Coverage Reiterated

  • Energy Conversion (NASDAQ:ENER): Ardour Capital reiterated its rating of Reduce for this company and changed its price target from $1 to $0.5.  About the company: Energy Conversion Devices, Inc. manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. The Company also develops other alternative technologies, including non-volatile digital memory for a variety of applications including cell phones, digital cameras and personal computers.
  • OmniVision (NASDAQ:OVTI): Wedbush reiterated its rating of Outperform for this company and changed its price target from $38 to $33.  About the company: OmniVision Technologies, Inc. provides integrated single chip semiconductor imaging devices. The Company designs, develops, and markets semiconductor imaging devices for computing, communications, and consumer electronics applications. OmniVision’s image sensor product is used in cameras and camera related products such as personal computer, digital, and security cameras.
  • Big Lots (NYSE:BIG): Wedbush reiterated its rating of Neutral for this company and changed its price target from $32 to $34.  About the company: Big Lots, Inc. is a broadline closeout retailer that operates stores across the United States. The Company’s stores offer an assortment of merchandise, including consumables, seasonal products,furniture, housewares, toys, and gifts.
  • Waters (NYSE:WAT): Wedbush reiterated its rating of Neutral for this company and changed its price target from $37 to $32.  About the company: Waters Corporation provides high-performance liquid chromatography products and services. The Company distributes its products worldwide to a wide range of industries such as pharmaceuticals, chemicals, and environmental testing. Waters also designs, manufactures, sells and services thermal analysis, rheometry and calorimetry instruments and related software products.
  • HEICO (NYSE:HEI): Wedbush reiterated its rating of Outperform for this company and changed its price target from $55 to $57.  FBR Capital Mkt Perform $52 >> $56.  About the company: HEICO Corporation designs, manufactures, and sells aerospace products and services through its subsidiaries. The Company’s customers include airlines and airmotive, as well as defense contractors and military agencies worldwide, including the United States Air Force, the United States Navy, and the National Aeronautics & Space Administration.
  • The Medicines Co (NASDAQ:MDCO): Argus reiterated its rating of Buy for this company and changed its price target from $25 to $20.  About the company: The Medicines Company develops products that improve specialized care. The Company markets Angiomax, an anticoagulant approved in the United States and other countries for use in patients undergoing coronary angioplasty procedures.
  • Hartford Financial (NYSE:HIG): Argus reiterated its rating of Buy for this company and changed its price target from $36 to $26.  About the company: The Hartford Financial Services Group, Inc. provides a range of insurance products. The Company’s products include property and casualty insurance, annuities, life insurance, investment services, and group insurance. Hartford Financial operates around the world.
  • Bank of America (NYSE:BAC): RBC Capital Mkts reiterated its rating of Outperform for this company and changed its price target from $12 to $10.  About the company: Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.
  • ZAGG (NASDAQ:ZAGG): Northland Securities reiterated its rating of Outperform for this company and changed its price target from $20 to $22.  About the company: Zagg Incorporated designs, manufactures and distribute branded protective coverings, audio accessories and power solutions for consumer electronic and hand-held devices.
  • IDEX Corp (NYSE:IEX): Barrington Research reiterated its rating of Outperform for this company and changed its price target from $55 to $45.  Oppenheimer Outperform $55 >> $50.  About the company: IDEX Corporation designs, manufactures, and markets a variety of pump products, dispensing equipment, and other engineered products. The Company’s products include industrial pumps, lubrication systems, banding and clamping devices, and rescue tools. IDEX markets its products to customers in the United States and overseas.
  • OmniVision (NASDAQ:OVTI): Needham reiterated its rating of Strong Buy for this company and changed its price target from $45 to $30.  About the company: OmniVision Technologies, Inc. provides integrated single chip semiconductor imaging devices. The Company designs, develops, and markets semiconductor imaging devices for computing, communications, and consumer electronics applications. OmniVision’s image sensor product is used in cameras and camera related products such as personal computer, digital, and security cameras.
  • Seadrill Ltd (NYSE:SDRL): Dahlman Rose reiterated its rating of Buy for this company and changed its price target from $42 to $38.  About the company: Seadrill Ltd. provides contract drilling services. The Company’s fleet includes semisubmersible rigs and jackup rigs.
  • Penske Auto (NYSE:PAG): Ticonderoga reiterated its rating of Buy for this company and changed its price target from $27 to $25.  About the company: Penske Automotive Group, Inc. operates franchised automobile dealerships. The Company’s franchises are located throughout the United States, Puerto Rico and the United Kingdom. Penske Automotive sells new and used vehicles as well as offers maintenance and repair services on all brands it represents.
  • Baxter (NYSE:BAX): Ticonderoga reiterated its rating of Buy for this company and changed its price target from $60 to $62.  About the company: Baxter International Inc. develops, manufactures, and markets products and technologies related to hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions. The Company’s products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors’ offices, and research laboratories.
  • GeoResources (NASDAQ:GEOI): Rodman & Renshaw reiterated its rating of Mkt Outperform for this company and changed its price target from $33 to $29.  About the company: GeoResources, Inc. explores for and produces oil and gas. The Company also mines leonardite and manufactures leonardite based products which are sold primarily as oil and gas drilling mud additives. GeoResources operates in the North Dakota and Montana portions of the Williston Basin.

(Note: Selected financial data are sourced from Briefing.com via the Wall St. Journal.  All data are assumed to be accurate.)

Advantage: Check out our interactive stock charts, fundamentals, Twitter stream, and more >>

Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter>>