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%."  Stay on top of analysts' coverage with Analyst Ratings Network's free daily email newsletter that provides a concise list of analysts' upgrades, downgrades and initiations. Register at http://bit.ly/equitybriefdaily  Content and Media Contact: newseditor@equitybriefing.com  ------------------------------------------------------------------------------  This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.  The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.  Source: Equity Brief via Thomson Reuters ONE HUG#1650819  
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