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Equity Brief: Ratings Changes for December 20th: SASR, SD, SGY, SLGN, SNSS, ST, STN, TAP


December 20, 2012 - London

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:

Zacks downgraded shares of Sandy Spring Bancorp Inc. (SASR) from an outperform rating to a neutral rating. Their analysts now have a $20.50 price target on the stock.

KeyBanc downgraded shares of SandRidge Energy Inc. (SD) from a buy rating to a hold rating. They wrote, "In a general sense, we view the move to sell an oily conventional asset into a very receptive marketplace as a savvy and opportunistic move, especially in cases in which capital can be deployed to higher return horizontal resource plays with better EURs and a large inventory of drilling locations with the ability to prove-up oily reserves. In this instance, however, we do not see SD as being in such a position, as the ultimate returns and oil/liquids mix of the Mississippian remains an open question and generally is inferior to Permian returns."

Global Hunter Securities downgraded shares of Stone Energy (SGY) from a buy rating to an accumulate rating. Their analysts now have a $26.00 price target on the stock, down previously from $30.00.

Goldman Sachs downgraded shares of Silgan Holdings (SLGN) from a neutral rating to a sell rating. Their analysts now have a $42.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.

Wells Fargo & Co. initiated coverage on shares of Sunesis Pharmaceuticals, Inc. (SNSS). They issued an outperform rating on the stock.

JPMorgan Chase raised its price target on shares of Sensata Tech (ST) from $32.00 to $35.00. They have an overweight rating on the stock. They wrote, "Sensata looks attractive into 2013 with an unusual combination of de-risked Street estimates (last cut in), company-specific margin levers, potential M&A catalysts, leverage to an improving macro, and longer term secular growth characteristics. With understandable skepticism around the business model after this year's miss, we think next year is the opportunity for ST to prove the 15%+ EPS growth model and re-assert itself as a premium GARP story. We raise our PT and remain OW."

RBC Capital upgraded shares of Stantec Inc (STN) from a sector perform rating to an outperform rating. RBC Capital now has a $47.00 price target on the stock, up previously from $42.00.

Citigroup initiated coverage on shares of Molson Coors Brewing (TAP). They issued a neutral rating on the stock and set a $45.00 price target. They wrote, "We remain on the sidelines, as business trends remain challenged broadly and we have little visibility into an inflection point on the top line. Sales in the U.S. remain under pressure, as do those in Canada and the U.K., while the newly-acquired Central and Eastern European business is now facing macro headwinds. While cost-cutting opportunities remain and should continue to help boost margins, we wait for a sustainable recovery on the top line before getting more positive on the stock."

Oddo & Cie reiterated its buy rating on shares of Technip (TEC). They have a $128.95 price target on the stock.

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Source: Equity Brief via Thomson Reuters ONE

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