Guggenheim

Listed below are today's Top Downgrades at Benzinga: JP Morgan Downgrades Hess (NYSE: HES) to Neutral: JP Morgan commented, "Although our reduced YE2012 price target of $68/share still suggests 33% potential upside, we do not believe valuation alone will be sufficient to serve as a catalyst. We...

Guggenheim Partners has published a research report on LEAP Wireless (NASDAQ: LEAP) and has downgraded the company from Buy to Neutral after the company research 1Q earnings. In the report, Guggenheim writes, "We estimate Leap sold around 1 million smartphones in 1Q, with ~70% going to new...

Guggenheim made no change to its NBT Bancorp (NASDAQ: NBTB) Neutral rating and $22 price target in a research report published today. In the report, Guggenheim stated, "NBTB continues to position the franchise for future growth with recent branch acquisitions in NY, expansion in MA, and the...

According to a research report published this morning, Guggenheim has increased City National's (NYSE: CYN) PT from $51 to $53. In the report, Guggenheim said, "We think CYN shares are reasonably valued trading for 15x our FY12E and 166% of TBVPS. Our thesis assumes CYN is a member of a subset of...

According to a research report published this morning, Guggenheim has increased Associated Banc Corp's (NASDAQ: ASBC) PT from $12.50 to $13. In the report, Guggenheim said, "We think ASBC is fairly valued trading near our $13.00 (+$0.50) price target. While our thesis assumes excess capital will...

According to a research report published earlier today, Guggenheim has increased Astoria Financials' (NYSE: AF) PT from $9 to $10. In the report, Guggenheim said, "1Q12 results reflect a somewhat remarkable inflection point for AF, as revenue increased from loan-driven asset growth and the NIM...

Guggenheim increases its base case from $33 to $36 on Buy-rated Delphi (NYSE: DLPH) to reflect the company's growth outlook. Guggenheim comments, "We see the growth opportunity for DLPH improving over the course of the next few years driven by each of our key supplier super themes: 1) green theme...

Guggenheim raises its rating on Independent Bank (NASDAQ: INDB) to Buy from Neutral with a $32 price target as business momentum offsets NIM risk. Piper Jaffray notes, "Given strong 1Q12 results and our expectations for significantly positive estimate revisions to reflect benefits of the NMTC...

According to a research report published earlier today, Guggenheim has lowered SUPERVALU's (NYSE: SVU) PT from $8.75 to $7. In the report, Guggenheim said, “SVU shares trade at a modest 4.2x EBITDA multiple, and we think a 72M share short position likely limits the downside risk. However, we...

According to a research report published this morning, Guggenheim has increased Ford Motor Company's (NYSE: F) PT from $12 to $13. In the report, Guggenheim commented, “Ford updated its 2012 EPS guidance at a conference last week -- management increased the outlook for North America and decreased...

According to a research report published earlier today, Guggenheim has upgraded Helmerich & Payne (NYSE: HP) from Neutral to Buy, and increased PT from $65 to $70. Guggenheim commented in the report, “Additionally, our FY 2012/13 EPS estimates have been raised to $5.00/$4.90 from $4.63/$4.78...

According to a research report published earlier today, Guggenheim has increased Family Dollar Stores' (NYSE: FDO) PT from $5 to $70. In the report, Guggenheim explained, “Both DG (DG, BUY, $46.00) and FDO delivered impressive results in their latest quarters, solidifying our bullish thesis on the...

Guggenheim downgrades Weatherford International (NYSE: WFT) to Neutral from Buy due to intensifying pressures in the US frac market. Price target of $20 is lowered to $17. Guggenheim notes, "The consensus bull case for WFT is largely based on the perception that its U.S. operations are more...

Guggenheim increases its price target from $37 to $38 on Buy-rated Discover Financial Services (NYSE: DFS) following the company's investor day takeaways suggesting further upside for investors. Guggenheim notes, "Given actual results in 1Q12 and a lower loss outlook, we are raising our FY12E and...

According to a research report published earlier today, Guggenheim has downgraded BB&T Corp. (NYSE: BBT), M&T Bank Corp. (NYSE: MTB) and SunTrust Banks Inc. (NYSE: STI) from Buy to Neutral. In the report, Guggenheim said, “BB&T and SunTrust have recently experienced significant...