Autodesk shares are trading higher this morning after UBS analyst Heather Bellini upped her rating on the design software company to Neutral from Sell, increasing her price target to $16 from $8.
Bellini said the company analyst meeting on Thursday could prove to be a catalyst for the stock. “We expect management to highlight that while sales have yet to stabilize they are declining at a decelerating rate.”
The bears on Palm continue to cave after a furious rally in the stock following the company’s announcement of its “new newness,” the Palm Web OS and the Palm Pre handset.
Yesterday, the stock was upgraded by former Palm bears at Citigroup and Deutsche Bank. This morning, UBS analyst Maynard Um made a similar move. “The Palm Pre generated significant buzz at CES, surprised us to the upside and breathed new life into Palm’s stagnant portfolio,” he wrote in a research note. “Though the company still has challenges ahead, it’s clear the winds now appear to have shifted in its favor.”
Between now and 2010, UBS analyst Matthieu Coppett sees a perfect storm brewing for the ad spending market–a 4.8 percent drop in TV advertising, a six percent drop for radio, 5.3 percent for magazines, 1.4 percent for outdoor, and 8.8 percent for newspapers. In fact, the the only area of growth he sees is the Internet, and that’s still down three percent from his old target of 13.4 percent.
Guitar Hero World Tour couldn’t boost Activision Blizzard’s share price despite a decent debut this weekend. Decent, but not stellar. Wii and Xbox 360 versions of the game were near-sellouts, the PS3 version less so. Good news, then, that UBS analyst Benjamin Schachter thinks the videogame industry could be recession-resistant.
Citing concerns about the softening macro economy and ongoing market volatility, UBS software analyst Heather Bellini cautioned this morning that estimates for the sector “need to come down materially” for the second half and for 2009.
Sunshine is free. Solar modules are not. But they are getting cheaper: UBS analyst Stephen Chin today revised his forecast for solar module pricing to down 20 percent from a previous estimate of down 14 percent.
UBS analyst Maynard Um today launched coverage of the PC sector, setting a Buy rating on Apple (AAPL) and Neutral ratings on Dell (DELL) and Hewlett-Packard (HPQ).
Um takes over coverage of the stocks from Ben Reitzes, who now covers the sector for Lehman.
UBS chip analyst Uche Orji has turned cautious on the memory sector. He says a recent rebound in DRAM ASPs is not likely to be sustainable, with slowing demand ahead, and increasing risk of some NAND capacity being flipped over to DRAM production. Orji also remains negative on the NAND flash market, “due to persistent excess supply.”
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