Equity Brief : Equity Brief: Ratings Changes for October 19th: MAA, MDF, MIG, MRVL, NOC, NR, NTCT, NVDA, OEH

Equity Brief : Equity Brief: Ratings Changes for October 19th: MAA, MDF, MIG,                         MRVL, NOC, NR, NTCT, NVDA, OEH  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:  Jefferies Group downgraded shares of Mid America Apartment Communities Inc (MAA) from a buy rating to a hold rating.  Robert W. Baird initiated coverage on shares of Metropolitan Health Networks, Inc. (MDF). They issued a neutral rating on the stock and set a $11.00 price target.  RBC Capital downgraded shares of Meadowbrook Insurance Group, Inc. (MIG) from a sector perform rating to an underperform rating.  Lazard downgraded shares of Marvell Technology Group (MRVL) from a buy rating to a neutral rating.  JPMorgan Chase downgraded shares of Marvell Technology Group (MRVL) from an overweight rating to a neutral rating. They wrote, "We are downgrading MRVL to Neutral from Overweight. Our OW thesis had been predicated on our expectations for sustainable long-term growth driven by stable expansion in its storage business (~45-50% of sales) and market share gains in mobile/wireless (~25-30%). Unfortunately, this scenario has not played out over the past 2.5 years, with revenues down 5% and non-GAAP EPS down 37% since we initiated on the stock in Feb-2010. MRVL has significantly underperformed its peers and the SOX index over this period. We believe near- to medium-term growth for the company is becoming increasingly challenging in the face of sluggish HDD demand and larger-than-expected share losses in TDphones."  Credit Suisse downgraded shares of Marvell Technology Group (MRVL) from an outperform rating to a neutral rating.  Credit Agricole downgraded shares of Marvell Technology Group (MRVL) from an outperform rating to an underperform rating.  Craig Hallum downgraded shares of Marvell Technology Group (MRVL) from a buy rating to a hold rating.  FBR Capital downgraded shares of Marvell Technology Group (MRVL) from an outperform rating to a market perform rating. Their analysts now have a $9.50 price target on the stock, down previously from $12.50.  Jefferies Group downgraded shares of Marvell Technology Group (MRVL) from a buy rating to a hold rating.  Bank of America downgraded shares of Marvell Technology Group (MRVL) to an underperform rating. They wrote, "We are downgrading Marvell to Underperform from Neutral as we do not see a quick fix to its growth prospects or its competitive position. We also note the FQ3 (Oct) warning and surprise departure of the CFO announced yesterday. We see at-best flattish EPS for next two years, and lower FY13E/14E to $0.87/$0.80 from $0.98/$1.00 and reduce our PO to $8 from $11 based on 10x CY13E PE in line with comps. Bulls may cite low <10x PE or Marvell's large cash position ($3.84/sh or 44% of mkt. cap). However we believe margin pressure, a lack of catalysts and the CFO departure will likely keep a lid on the stock."  Oppenheimer downgraded shares of Northrop Grumman Cor (NOC) from an outperform rating to a market perform rating. They wrote, "We're downgrading Northrop to Perform from Outperform on valuation; NOC last closed at $71.13, 6% above our prior $67 PT. Though catalysts should remain generally positive for NOC through election day, its current multiple leaves little room for sustained outperformance, in our view. Looking past the elections, we believe investors could become more alert to the risks posed by sequestration. After a year of hearing sequestration catastrophe scenarios, but seeing solid results quarter after quarter, many have been lulled into believing sequestration might somehow resolve itself without materially impacting industry fundamentals. This may ultimately prove true, but it strikes us as insalubriously optimistic to presume as much on the threshold of a potential cliff."  BB&T downgraded shares of Newpark Resources, Inc. (NR) from a buy rating to a hold rating.  Craig Hallum downgraded shares of NetScout Systems, Inc. (NTCT) from a buy rating to a hold rating.  FBR Capital downgraded shares of NVIDIA (NVDA) from an outperform rating to a market perform rating. Their analysts now have a $14.00 price target on the stock, down previously from $17.50.  JPMorgan Chase downgraded shares of Orient-Express Hotels Ltd. (OEH) from an overweight rating to a neutral rating. Their analysts now have a $12.00 price target on the stock. They wrote, "We are lowering our rating to Neutral from Overweight given yesterday's ~23% move on the heels of Indian Hotel's acquisition offer at $12.63 for the remaining 93% of the stock its doesn't own already. The move puts OEH's YTD performance at +48%, well above the S&P 500's +16% YTD gain, and we would be profit takers at these levels."  Citigroup downgraded shares of Grupo Aeroportuario del Centro Nort (OMAB) from a buy rating to a neutral rating.  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#1650822  
Press spacebar to pause and continue. Press esc to stop.