MGM Resorts (MGM) (LLL) (MO) (NFLX) Downgraded April 26

Shares of MGM Resorts (NYSE: MGM), L-3 Communications (NYSE: LLL), Altria Group (NYSE: MO) and Netflix, Inc. (NASDAQ: NFLX) were all downgraded by several brokerages on April 26.

BB&T (NYSE:BBT) downgraded L-3 Communications (LLL) from a “Buy” rating to a “Hold” rating.

Credit Suisse (NYSE:CS) downgraded MGM Resorts (MGM) from a “Neutral” rating to an “Underperform” rating. They have a price target of $11.00 MGM, down from the previous $14.

Argus downgraded Altria Group (MO) from a “Buy” rating to a “Hold” rating.

Janney Montgomery Scott downgraded Netflix, Inc. (NFLX) from a “Neutral” rating to a “Sell” rating. They have a price target of $170.00 on Netflix.

Las Vegas Sands (NYSE:LVS) Macau Growth Underestimated Says Argus

Although of the attention on Las Vegas Sands (NYSE:LVS) has been on the rejection of the Macau government to develop two parcels, Argus sees many missing the growth Sands should enjoy from current properties in the country.

Argus analyst John Staszak wrote in a note, “In Macau, the gaming market is already larger than in Las Vegas, and we expect an expanding Chinese middle class and simplified travel requirements to spur growth.”

“Despite a modest slowdown in the Chinese economy, the strong results confirm our belief that our fourth-quarter 2010 forecast for 6% growth in Macau may be conservative,” Staszak added.

Also cited was the report from the Gaming Inspection and Coordination Board in Macau that gaming revenue had increased 42 percent in the early part of December, to $2.13 billion, second historically from the $2.30 billion gain in October of this year.

Gaming growth in Singapore and Las Vegas was also noted at helping shore up the results of Las Vegas Sands.

Sands closed Wednesday at $46.04, down $1.55, or 3.26 percent. Argus has a price target on them of $58.

Darden Restaurants (NYSE:DRI) a Strongly Managed Company

Saying they're among the "best managed casual dining chains," Argus increased their estimates and price target on Darden Restaurants (NYSE:DRI), while maintaining their "Buy" rating on them.

"We believe that Darden is among the best managed casual dining chains, and based on its plan to increase the store count, grow same-store sales and improve operational efficiency," said Argus.

EPS estimates for full year 2011 were increased from $3.30 to $3.35 and for full year 2012 from $3.70 to $3.80.

Darden closed Wednesday at $49.32, gaining $0.37, or 0.76 percent. Argus raised their price target on them from $52 to $58.

Marriott (NYSE:MAR) Should Continue to Steal Market Share

Saying Marriott International (NYSE:MAR) should continue to steal market share from smaller competitors, Argus maintains their "Buy" rating on the company while raising their price target.

Argus said the EPS estimates of Marriot are already on the high side of consensus and will keep their own estimates in place.

With an extensive range inexpensive and low-service hotels under their control, expectations are consumers will continue to go that route as they travel in light of the ongoing recession.

Marriot has also said they're going to increase new rooms in Asian and Middle Easter markets by 25 percent.

With a strong financial position they funding is already close to being secured before construction has even begun.

Marriot closed Tuesday at $39.21, gaining $0.07, or 0.18 percent. Argus increased their price target on them from $43 to $46.

Starbucks (Nasdaq:SBUX) Shares Should Respond to Earnings Focus

Argus likes the strategy Starbucks (Nasdaq:SBUX) is implementing and sees the share price of the company growing as earnings increase.

They see same-store sales continuing to grow at they "restore earnings by slowing unit expansion, managing expenses, and implementing programs to increase traffic."

Argus, which maintains a "Buy" rating on Starbucks, raised their EPS estimates for full year 2011 from $1.46 to $1.50 and for full year 2012 from $1.75 to $1.80. That's above the Street consensus.

Starbucks closed Monday at $30.79, dropping $0.35, or 1.12 percent. Argus raised their price target on them from $38 a share to $39.

Deere (NYSE:DE) Earnings, Price Target Boosted by Argus

Saying they see Deere (NYSE:DE) continuing to perform strongly into 2011, based on their latest quarterly report, Argus Research maintains their "Buy" rating on them, while raising their price target significantly.

Argus said the latest quarterly results were "much better than we expected..." and believe that there will be "continued strong results in fiscal 2011."

Earnings estimates for full year 2011 were raised from $4.85 to $4.95 and set a full year 2012 estimate of $5.30.

Deere & Company closed Friday at $76.00, losing $0.23, or 0.30 percent. Argus raised their price target on them from $76 to $88.

Las Vegas Sands (NYSE:LVS) Price Target Boosted Over 30 Percent

Las Vegas Sands (NYSE:LVS) had the price target on them raised by over 30 percent, from $44 a share to $58 a share, by Argus, which also maintained a "Buy" rating on the company.

Reasons cited were "signs of improvement in Las Vegas, prospects for solid profitability in the near-term, capital availability, and the significant growth potential of the Marina Bay Sands in Singapore."

Also, "Management has eliminated substantial costs from its operations, particularly in Las Vegas, right-sizing the organization for the current business climate."

Earnings per share for full year 2010 were lifted from 72 cents to 74 cents and for full year 2011 from $1.06 to $1.12. Analysts are looking for EPS of 99 cents a share for 2010 and $1.68 for 2011.

Las Vegas Sands closed Wednesday at $50.93, gaining $1.87, or 3.81 percent.

ExxonMobil (NYSE:XOM) Earnings Look Strong Through 2011

Even though ExxonMobil's (NYSE:XOM) earnings in 2009 dropped for the first time since 2002, 2010 has already exceeded those earnings, and are expected to increase further in 2011, says Argus.

"Exxon should remain in a strong position thanks to its fortress balance sheet. Although its earnings and cash flow declined year-over-year in 2009 for the first time since 2002, its year-to-date cash performance in 2010 already exceeds that for all of last year. We expect even stronger results in 2011," Argus stated, which maintains a "Buy" rating on the energy giant.

Full year earnings estimates were raised in 2010 from $5.80 to $5.90, and for 2011 they were lowered from $6.35 to $6.30, although the outlook still looks strong.

Exxon was trading at $68.59, falling $1.60, or 2.28 percent at 12:40 PM EST. The price target was raised from $76 to $85 by Argus.

Freeport (NYSE:FCX) Outlook Strong on Increased Production, Chino Mine

Freeport-McMoRan (NYSE:FCX) was upgraded by Argus Research, citing the company's guidance on increasing production and the restarting of its Chino mine in New Mexico.

The rating was upgraded because it "reflects the company's decisions to increase production in 2010 and to restart its Chino mine in New Mexico, as well as continued copper purchases from China," said Argus.

Freeport also increased its FY10 earnings per share estimate from $8.03 to $8.29 and its FY11 estimate from $8.89 to $9.37. The Street at this time is looking for FY10 and FY11 earnings per share of $8.09 and $9.25.

Another impressive move by Freeport showing confidence going forward was the almost doubling of its quarterly dividend.

Freeport closed Monday at $98.28, soaring $2.21, or 2.30 percent. Argus has a price target of $113 on them.