This morning, Goldman Sachs started 3M (MMM) and International Paper (IP) with Neutral ratings.
Rite Aid (RAD) was downgraded from a Neutral to Sell rating after the recent stock gains. As a reminder, this was Cramer’s #2 speculative play for 2007. Goldman trimmed the current fiscal estimates from $0.07 to $0.03. This was added to Goldman’s Americas Investment SELL List.
TRW Automotive (TRW) was also downgraded from a Neutral rating down to a Sell rating. This was added to Goldman’s Americas Investment SELL List.
JDSU (JDSU) estimates were raised from $0.21 EPS up to $0.26 EPS for the current year; this after the company raised guidance last night.
Knight Capital Group (NITE) saw its estimates trimmed at Goldman Sachs from $1.32 EPS down to $1.15 for the current year and the coming year estimates were trimmed from $1.45 to $1.26.
Xilinx (XLNX) estimates were also trimmed after the company lowered guidance; Goldman cut next fiscal year from $1.22 EPS to $1.10.
Goldman Sachs also reiterated a BUY rating on J&J (JNJ) and said it sees 11% upside to its 6-month target of $75.00. This replaces Stryker (SYK) on the Americas Conviction Buy List.