Equity Brief : Equity Brief: Ratings Changes for October 19th: DSW, EMG, ETFC, EWBC, EXAS, FITB, FWRD, GES, GNK

Equity Brief : Equity Brief: Ratings Changes for October 19th: DSW, EMG, ETFC,
                       EWBC, EXAS, FITB, FWRD, GES, GNK

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:

Citigroup initiated coverage on shares of DSW Inc. (DSW). They issued a
neutral rating on the stock.

RBC Capital reiterated its sector perform rating on shares of Man Group (EMG).
They have a $1.37 price target on the stock.

Wells Fargo & Co. downgraded shares of E TRADE Financial Co. (ETFC) to a
market perform rating.

Macquarie upgraded shares of East West Bancorp Inc (EWBC) from a neutral
rating to an outperform rating.

Benchmark Co. raised its price target on shares of EXACT Sciences Co. (EXAS)
from $12.00 to $17.00. They have a speculative buy rating on the stock.

Compass Point downgraded shares of Fifth Third Bancorp (FITB) from a buy
rating to a neutral rating. Their analysts now have a $16.00 price target on
the stock, down previously from $17.00.

Wolfe Trahan upgraded shares of Forward Air (FWRD) from a market perform
rating to an outperform rating.

Morgan Stanley initiated coverage on shares of Guess Inc (GES). They issued an
underweight rating on the stock. They wrote, "Although cheap valuation makes
the stock tempting, we believe GES contains the largest risks and lowest
earnings visibility in our coverage universe. We believe the core businesses
in US and Europe will continue to be pressured in the near term, leading to
ongoing EPS shortfalls."

Deutsche Bank downgraded shares of Genco Shipping & Trading Ltd (GNK) from a
hold rating to a sell rating. They wrote, "We are downgrading GNK to
Sell-rated from Hold-rated as shares have rallied 16.7% since Q2 (vs. the S&P
500's 7.0% gain) and asset values have declined. However, our current NAV
estimate is negative $6/share, down from negative $5/share in August. While
GNK has ample liquidity to weather a weak 2013, loan repayment waivers expire
in 2014 and unless the market materially recovers, liquidity risk will once
again return. We expect the current support for GNK's share price to dissipate
as we move through Q4 and rates once again decline into 2013. We attribute
much of the recent share price improvement from rates recovering off of trough
levels, and expect to see Q1 2013 spotmarket weakness, particularly in the
Cape sector."

Oppenheimer downgraded shares of Google Inc. (GOOG) from an outperform rating
to a market perform rating. Their analysts now have a $765.00 price target on
the stock, down previously from $800.00. They wrote, "We are downgrading GOOG
shares to Perform from Outperform following weaker than expected 3Q earnings,
reflecting higher spending on Nexus tablet subsidies and the drag of the
Motorola losses. While core advertising revenues were in line ex FX, we are
reducing 4Q and 2013 non-GAAP EPS estimates by 5% and 6%, respectively, to
reflect lower margins. As a result, we are reducing our price target to $765
from $800, suggesting only 10% upside from current levels. This assumes
investors will value the stock at 16x 2013 non-GAAP EPS or using a market
multiple on 2015, discounted back at 10%."

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Source: Equity Brief via Thomson Reuters ONE
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