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Home | Top News | Notable Analyst Upgrades, Downgrades and Comments for April 20, 2009

Notable Analyst Upgrades, Downgrades and Comments for April 20, 2009

20 April, 2009 07:49:00 Justin Kuepper
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Baidu.com, Inc. (BIDU), LDK Solar Co., Ltd. (LDK), Apple Inc. (AAPL), Yahoo Inc. (YHOO), and Amazon.com, Inc. (AMZN) all received notable analyst upgrades, downgrades or comments today.

Baidu, Inc. (NASDAQ: BIDU) shares moved lower after UBS initiated the Chinese search giant with a “Sell” rating and $150 per share price target. The analyst believes there are a number of risks that aren’t factored into the company’s share price, including ad spending cuts, business model transformation, increased competition from Google and margin pressures from higher traffic acquisition costs.

LDK Solar Co., Ltd. (NYSE: LDK) shares moved sharply lower amid weakness across the entire solar sector. The company was also initiated as a “Hold” at Needham, which expects muted solar demand through 2009 and aggressive consensus estimates. The firm has a $10 price target on the company.

Apple Inc. (NASDAQ: AAPL) shares moved lower amid a slew of contradictive analyst reports. Citigroup expects Apple to report significant margin upside, while RBC Capital raised its price target from $70 to $95 per share. However, the company was downgraded to “Hold” from “Buy” at Gabelli based on their belief that shares are fairly valued at current levels.

Yahoo Inc. (NASDAQ: YHOO) shares moved sharply lower after Kaufman Brothers released a negative analyst report. The firm expects Yahoo’s first quarter domestic search numbers to decline more steeply than the 8 percent quarter on quarter drop reported by Google. However, the firm continues to maintain a “Hold” rating on the stock.

Amazon.com, Inc. (NASDAQ: AMZN) shares moved down marginally after it was upgraded at Citigroup from a “Hold” to a “Buy”. The firm expects the company’s top-line growth rates to be more sustainable than expected and noted that its operating margins could recover due to less retail discounting. Meanwhile, Thomas Weisel raised their target price on the company from $48 to $70 per share.

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