Thoratec (THOR) (AKAM) (LNVGY) (MR) (TTM) Ratings, Price Targets

Thoratec (THOR), Akamai Technologies (NASDAQ:AKAM), Lenovo (OTC: LNVGY), Mindray Medical (MR) and Tata Motors (TTM) ratings and price targets.

Akamai Technologies (AKAM) was upgraded from a "Underperform" rating to "Hold" rating by Jefferies (NYSE:JEF). They raised their price target from $21.00 to $36.00 on the company.

HSBC Securities upgraded Lenovo (OTC: LNVGY) from a "Neutral" rating to an "Overweight" rating.

Citigroup (NYSE:C) upgraded Mindray Medical (MR) from a "Neutral" rating to a "Buy" rating.

Thoratec (THOR) was downgraded by Wells Fargo (NYSE:WFC) from an "Outperform" rating to a "Market Perform" rating.

Deutsche Bank (NYSE:DB) downgraded Tata Motors (TTM) from a "Buy" rating to a "Sell" rating.

Thoratec (THOR) (SFSF) (SNY) (CEG) (CHH) (CHRW) Downgraded

Thoratec (NASDAQ: THOR), SuccessFactors, Inc. (NASDAQ: SFSF), Sanofi-Aventis (NYSE: SNY), Constellation Energy Group (NYSE: CEG), Choice Hotels (NYSE: CHH) and C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW) were downgraded by analysts.

SuccessFactors, Inc. (SFSF) was downgraded by ThinkEquity from a “Buy” rating to a “Hold” rating.

Sanofi-Aventis (SNY) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.

Thoratec (THOR) was downgraded by UBS AG (NYSE:UBS) from a “Buy” rating to a “Neutral” rating.

Constellation Energy Group (CEG) was downgraded by Citigroup (NYSE:C) from a “Buy” rating to a “Neutral” rating.

Choice Hotels (CHH) was downgraded by Robert W. Baird from a “Neutral” rating to an “Underperform” rating. They have a price target of $34.00 on the company, up from $33.00.

C.H. Robinson Worldwide, Inc. (CHRW) was downgraded by RBC Capital from an “Outperform” rating to a “Sector Perform” rating. They have a price target of $75.00 on the company, down from $90.00.

Cavium (CAVM) (SPR) (THC) (THOR) (CEG) (CHD) EPS Changes

Cavium Networks, Inc. (NASDAQ: CAVM), Spirit AeroSystems Holdings, Inc. (NYSE: SPR), Tenet Healthcare Co. (NYSE: THC), Thoratec (NASDAQ: THOR), Constellation Energy Group (NYSE: CEG) and Church & Dwight Co Inc. (NYSE: CHD) had their EPS estimates adjusted by analysts.

Cavium Networks, Inc. (CAVM) had its EPS estimates cut by UBS AG (NYSE:UBS). They have a “Buy” rating and a price target of $37.00 on the company.

Spirit AeroSystems Holdings, Inc. (SPR) had its EPS estimates raised by Credit Suisse (NYSE:CS). They have a “Neutral” rating and a price target of $22.00 on the company.

Tenet Healthcare Co. (THC) had its EPS estimates raised by Credit Suisse. They have an “Outperform” rating and a price target of $6.00 on the company.

Thoratec (THOR) had its EPS estimates raised by UBS AG (NYSE:UBS). They have a “Buy” rating and a price target of $39.00 on the company.

Constellation Energy Group (CEG) had its EPS estimates raised by UBS AG. They have a “Neutral” rating and a price target of $42.00 on the company.

Church & Dwight Co Inc. (CHD) had its EPS estimates raised by Jefferies (NYSE:JEF). They have a “Hold” rating and a price target of $43.00 on the company.

Anadarko (APC) (TGI) (THOR) (UAN) (AMT) (ATML) Price Targets Changed

Anadarko Petroleum (NYSE: APC), Triumph Group, Inc. (NYSE: TGI), Thoratec (NASDAQ: THOR), CVR Partners (NYSE: UAN), American Tower Corporation (NYSE: AMT) and Atmel (NASDAQ: ATML) had price targets on them adjusted by analysts.

Anadarko Petroleum (APC) had its price target lowered by Jefferies (NYSE:JEF) to $104.00.

Triumph Group, Inc. (TGI) had its price target raised by Deutsche Bank (NYSE:DB) to $70.00.

Thoratec (THOR) had its price target lowered by Rodman & Renshaw to $40.00.

CVR Partners (UAN) had its price target raised by Barclays Capital from $22.00 to $24.00. They have an “Equal Weight” rating on the company.

American Tower Corporation (AMT) had its price target raised by RBC Capital from $64.00 to $68.00. They have an “Outperform” rating on the company.

Atmel (ATML) had its price target lowered by FBR Capital from $16.00 to $14.00. They have an “Outperform” rating on the company.

Thoratec (THOR) (OVTI) (PSUN) (RJF) (STJ) Price Targets Changed

Thoratec (NASDAQ: THOR), OmniVision Technologies, Inc. (NASDAQ: OVTI), Pacific Sunwear of California, Inc. (NASDAQ: PSUN), Raymond James (NYSE: RJF) and St. Jude Medical, Inc. (NYSE: STJ) price targets adjusted by analysts.

OmniVision Technologies, Inc. (OVTI) had its price target lowered by Wedbush from $45.00 to $38.00. They have an “Outperform” rating on the company.

Pacific Sunwear of California, Inc. (PSUN) had its price target lowered by Wedbush from $3.50 to $2.00. They have an “Underperform” rating on the company.

Raymond James (RJF) had its price target lowered by Ticonderoga from $37.00 to $34.00. They have a “Buy” rating on the company.

St. Jude Medical, Inc. (STJ) had its price target lowered by Morgan Keegan from $60.00 to $53.00. They have an “Outperform” rating on the company.

Thoratec (THOR) had its price target lowered by Morgan Keegan from $35.00 to $32.00. They have a “Market Perform” rating on the company.

NStar (NST) (ThOR) (MRGE) (NXTM) Upgraded

NStar (NYSE: NST), Thoratec (NASDAQ: THOR), Merge Healthcare Inc (NASDAQ: MRGE) and Nxstage Medical (NASDAQ: NXTM) upgraded by analysts.

Merge Healthcare Inc. (MRGE) was upgraded by Robert W. Baird from a “Neutral” rating to an “Outperform” rating. They have a price target of $8.00 on the company, up from $6.00.

NStar (NST) was upgraded by ISI Group from a “Sell” rating to a “Hold” rating.

Nxstage Medical (NXTM) was upgraded by Rodman & Renshaw from an “Underperform” rating to a “Market Perform” rating.

Thoratec (THOR) was upgraded by Wedbush from an “Underperform” rating to a “Neutral” rating. They have a price target of $33.00 on the company.

Thoratec (THOR) (THQI) (TUP) (TWC) (UTX) Ratings Reiterated

Thoratec (NASDAQ:THOR), THQ Inc (NASDAQ: THQI), Tupperware Brands Co. (NYSE: TUP), Time Warner Cable (NYSE: TWC) and United Technologies Co. (NYSE: UTX) reiterated by analysts.

JPMorgan Chase & Co. (NYSE:JPM) reiterated a "Neutral" rating on Thoratec (THOR).

BMC Equities Research reiterated a "Buy" rating on THQ Inc (THQI). They have a price target of $5.50 on the company.

JPMorgan Chase & Co. reiterated an "Overweight" rating on Tupperware Brands. They have a price target of $80.00 on the company.

Deutsche Bank (NYSE:DB) reiterated a "Buy" rating on Time Warner Cable (TWC).

Morgan Stanley (NYSE:MS) reiterated an "Equal Weight on United Technologies Co. (UTX).

Ratings (AMAP) (HRC) (ONCY) (THOR) (UAN) Weekend Recap

Ratings coverage on AutoNavi Holdings Ltd (NASDAQ: AMAP), Hill-Rom Holdings, Inc. (NYSE: HRC), Oncolytics Biotech, Inc. (NASDAQ: ONCY), Thoratec (NASDAQ: THOR) and CVR Partners (NYSE: UAN) was initiated by analysts recently.

Deutsche Bank (NYSE:DB) initiated coverage on AutoNavi Holdings Ltd (AMAP). They placed a “buy” rating and a price target of $22.00 on the company.

Goldman Sachs (NYSE:GS) initiated coverage on Hill-Rom Holdings, Inc. (HRC). They placed a “neutral” rating on the company.

Oppenheimer initiated coverage on Oncolytics Biotech, Inc. (NASDAQ: ONCY). They placed a “perform” rating on the company.

Oppenheimer initiated coverage on Thoratec (NASDAQ: THOR). They placed an “outperform” rating and a price target of $40.00 on the company.

Morgan Stanley (NYSE:MS) initiated coverage on CVR Partners (NYSE: UAN). They placed an “equal weight” rating on the company.

Coverage on (THOR) (MDRX) (PODD) (SDT) (GMLP) Initiated

Coverage on Thoratec (NASDAQ: THOR), Allscripts Healthcare Solutions (NASDAQ: MDRX), Insulet Corp. (NASDAQ: PODD), SandRidge Mississippian Trust I (NYSE: SDT) and Golar LNG Partners (NASDAQ: GMLP) initiated by analysts.

Oppenheimer initiated coverage on Thoratec (NASDAQ: THOR). They placed an “outperform” rating and a price target of $40.00 on the company.

Robert W. Baird initiated coverage on Allscripts Healthcare Solutions (MDRX). They placed an “outperform” rating and a price target of $27.00 on the company.

Oppenheimer initiated coverage on Insulet Corp. (PODD). They placed an “outperform” rating and a price target of $25.00 on the company.

Robert W. Baird initiated coverage on SandRidge Mississippian Trust I (SDT). They placed a “neutral” rating and a price target of $25.00 on the company.

Wells Fargo & Co. (NYSE:WFC) initiated coverage on Golar LNG Partners (GMLP). They placed a “market perform” rating on the company.

Big Movers (HOC) (NTAP) (ALXN) (ARMH) (THOR) on May 6

Among the big, positive movers on Friday, May 6, were Holly Corp. (HOC), Netapp (NTAP), Alexion Pharmaceutic (ALXN), Arm Holdings Plc (ARMH) and Thoratec Corp. (THOR).

Holly Corp. (HOC) jumped $1.81, to close at $55.55, a gain of 3.37 percent.

Netapp (NTAP) was up $1.80 on the day to close at $53.30, a gain of 3.50 percent.

Alexion Pharmaceutic (ALXN) climbed $1.76 to close at $95.89, a gain of 1.87 percent.

Arm Holdings Plc (ARMH) rose $1.76 to close the session at $29.27, a gain of 6.40 percent.

Thoratec Corp. (THOR) was up $1.76 to end the day at $33.58, a gain of 5.53 percent.

Coverage On (SAN) (SREV) (THOR) Initiated by Analysts

Analysts have initiated coverage on Banco Santander-Chile (NYSE: SAN), Servicesource Intern (NASDAQ: SREV) and Thoratec (NASDAQ: THOR).

Raymond James (NYSE:RJF) initiated coverage on Banco Santander-Chile (SAN). They placed a “market perform” rating on the company.

Deutsche Bank (NYSE:DB) initiated coverage on Servicesource Intern (SREV). They placed a “buy” rating on the company.

Morgan Stanley (NYSE:MS) initiated coverage on Servicesource Intern (SREV). They placed an “overweight” rating and a price target of $16.00 on the company.

Auriga initiated coverage on Thoratec (THOR). They placed a “hold” rating and a price target of $30.00 on the company.

Thoratec's (NASDAQ:THOR) Weak Guidance, Pipeline Earns it Downgrade

Thoratec (NASDAQ:THOR) was downgraded by Canaccord on their weak guidance and product pipeline.

Canaccord notes, "Weak 2011 guidance last night came on the
heels of a disappointing discussion about its new product pipeline timelines two weeks ago – especially juxtaposed to Heartware's (Nasdaq:HTWR) – thus we now forecast THOR’s US VAD unit growth will decline 1% in 2012 upon HTWR’s HVAD launch. While THOR posted solid OUS growth in Q4, coupled with our continued belief THOR will significantly grow its DT volume in coming years, expected protracted share loss beginning in 2012 drives our lower top- and bottom-line estimates. We now model EPS CAGR of just 8% through 2013 vs. the comp group CAGR of 14%."

Canaccord Genuity downgraded Thoratec (THOR) from "Buy" to

"Hold." Thoratec closed Friday at $23.13, losing $3.00, or 11.48 percent. Canccord lowered their price target on Thoratic to $23.

Heartware (NASDAQ:HTWR) Measured against Thoratec (Nasdaq:THOR)

Heartware Intl (NASDAQ:HTWR) and Thoratec (Nasdaq:THOR) received a preview measuring the companies against one another, and in the long run at this time, Canaccord Genuities sees Heartware coming out on top.

Canaccord says, "We prefer HTWR common from a long-term investment standpoint, but also believe Thoratec (Nasdaq:THOR common represents a favorable risk/reward investment at current levels. As a result of the November release of HTWR’s strong HVAD BTT data, THOR is still hovering around its 52-week low in the $25-27 range, while HTWR is near an all-time high. In light of both companies’ product pipeline announcements two weeks ago (which favored HTWR in our view), for THOR shares to appreciate we believe the company must 1) produce upside to estimates over the next few quarters 2) show strong momentum in the US DT market, and 3) keep pace with HTWR’s strong European growth. While we believe there are risks to each of these, we believe the current trading level for THOR offers a modestly positive risk/reward profile. For HTWR, we would buy any dips aggressively as we believe it could become the #1 share player by 2015.

For HTWR 2011: Raise revenue estimate to $90M from $82M; LPS to ($2.19) from ($2.53). 2012: Raise revenue estimate to $217M from $148M; EPS of $0.23 from LPS of ($0.66).2013: Raise revenue estimate to $311M from $250M; EPS of $2.52 from $1.41.

Canaccord Genuity maintains a "Buy" rating on Heartware Intl (HTWR), which closed Wednesday at $97.69, gaining $1.16, or 1.20 percent. Canaccord raised their price target on Heartware from $98 to $115.

Thor (THOR) closed at $25.84, gaining $0.01 or 0.04 percent.

Can Thoratec (NASDAQ:THOR) Answer HVAD Competition Challenges?

With Thoratec (NASDAQ:THOR) losing market share in Europe from HeartWare’s (Nasdaq:HTWR) HVAD, and BTT about to get approval in the U.S. for HVAD, Thoratec is under extreme pressure to respond effectively to the challenges.

Wedbush says, "We expect the coming year to prove challenging for THOR due to (1) continued market share erosion in Europe from HeartWare’s (HTWR)(OUTPERFORM) HVAD; (2) looming approval of the HVAD in the US for BTT; and (3) uncertainty regarding THOR’s own sales ramp in the market for Destination Therapy. We expect these issues to create a lingering overhang of negative sentiment which will likely effect THOR’s share price throughout 2011. Although we remain optimistic about the DT market overall (which we expect THOR to maintain exclusivity until early 2015) and believe that THOR’s longer-term pipeline (as described at an investor conference yesterday) still holds much promise, we believe the lack of potential positive catalysts in the next 12 months will hinder significant upside in the stock."

Wedbush downgraded Thoratec (THOR) from "Outperform" to "Neutral." Thoretic closed Wednesday at $29.01, losing $2.09, or 6.72 percent. Wedbush lowered their price target on them from $35 to $33.

Thoratec (NASDAQ:THOR) Top Name in Emerging Medical Tech Space for Barclays (NYSE:BCS)

Thoratec (NASDAQ:THOR) is Barclays (NYSE:BCS) top name in the emerging medical technology segment, and they believe expectations exceeded the reality, which put pressure on comps to live up to them.

Barclays noted, "After two quarters of softer pump volumes, we expect THOR to report much stronger 4Q numbers based on our tracking data from INTERMACS. We believe investor expectations got too far ahead of following the strength of 1Q results, which benefitted from a 'bolus' of patients waiting for the Heartmate II's approval for destination therapy. This set tough comps for the remainder of 2010, and combined with strong data from competitor Heartware (Nasdaq:HTWR), hurt sentiment for THOR shares. However, we believe the market is excessively pessimistic regarding THOR's LVAD franchise although we expect 4Q results will begin to restore investor confidence.

"Heading into 2011, THOR is our favorite name in the emerging medical technology space. In addition to a stronger 4Q, we believe THOR shares will benefit from the upcoming pipeline update. We believe investors don't fully appreciate THOR's ability to bring a fully-implantable system to market by 2015."

Barclays maintains an "Overweight" rating on Thoratec, which closed Tuesday at $28.70, up $0.11, or 0.38 percent. Barclays has a price target of $39 on them.

Thoratec (NASDAQ:THOR), NxStage Medical (NASDAQ:NXTM) Top Medical Devices Ideas in 2011 for Canaccord

Medical devices analysts Jason Mills and William Plavonic, from Canaccord Genuity, released their top two companies for 2011.

They are:

A) Thoratec (NASDAQ:THOR) Mr. Mills recommends investors accumulate shares of THOR at current levels for the following reasons: 1) We believe THOR's value is much higher than current trading levels based on its earnings potential in 2011 and 2012; 2) The huge untapped patient population (namely the “DT” cohort); 3) The potential for its new product pipeline to produce further advancements in durability, size and full-implantability, which could help mitigate the Street's expectation of massive share loss (i.e. 70-80% by 2015; we continue to model THOR with a 51% overall market share in 2015); and 4) Our continued belief the LVAD market will continue to grow much faster than most if not all major med-tech markets over the next 5+ years. We also note that THOR has a sizeable cash position (>$450M), with which it can diversify its product portfolio and/or buy back shares, which it has done in the past.

B) NxStage Medical (NASDAQ:NXTM) - NxStage Medical remains Mr. Plavonic’s top growth name entering 2011 for the following reasons: 1) The company has a great deal of momentum considering the improved reimbursement landscape; 2) Additional positive data released from the NIDDK study; 3) Overall increased attention toward performing more dialysis in the home; and 4) Of note, the Q3/10 results represented the fourth consecutive quarter of very strong home hemodialysis results and the eighth consecutive quarter of outperformance for home hemodialysis growth.

NxStage Medical closed Wednesday at $23.61, up $0.02, or 0.08 percent. Thoratec closed at $27.66, down $0.27, or 0.97 percent.