Freeport (FCX) (VAR) (WSM) (GLW) (FDX) Price Targets Cut

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Varian Medical Systems (NYSE: VAR), Williams-Sonoma, Inc. (NYSE:WSM), Corning (NYSE:GLW) and FedEx Corporation (NYSE:FDX) had their price targets cut by analysts.

Freeport-McMoRan Copper & Gold Inc. (FCX) had its price target cut by Morgan Stanley (NYSE:MS) to $65. They maintain their “Overweight” rating on the company.

Varian Medical Systems (VAR) had its price target lowered by analysts at Ticonderoga from $80.00 to $68.00. The have a “Buy” rating on the stock.

Williams-Sonoma, Inc. (WSM) had its price target lowered by analysts at Wedbush Securities. They maintained their “Outperform” rating on company, cutting its price target from $46 to $43.

Corning (GLW) had its price target cut from $18 to $16.50 by Citi Investment Research.

FedEx Corporation (FDX) had its price target slashed by JP Morgan (NYSE:JPM) from $116 to $105. They maintain an "Overweight" rating on the company.

AMD (NYSE: AMD) (EBAY) (VAR) (KIM) (FFIC) (CEVA) Ratings Reiterated

Advanced Micro Devices (NYSE: AMD), eBay, Inc. (NASDAQ: EBAY), Varian Medical Systems (NYSE: VAR), Kimco Realty Co. (NYSE: KIM), Flushing Financial Co. (NASDAQ: FFIC) and Ceva Inc (NASDAQ: CEVA) had their ratings reiterated by analysts.

Argus reiterated a “Hold” rating on Advanced Micro Devices (AMD).

Argus reiterated a “Buy” rating on eBay, Inc. (EBAY). They have a price target of $40.00 on the company.

Duncan Williams reiterated a “Buy” rating on Varian Medical Systems ( VAR). They have a price target of $80.00 on the company.

JPMorgan Chase & Co. (NYSE:JPM) reiterated a "Neutral" rating on Kimco Realty Co. (KIM).

KBW reiterated its "Outperform” rating on Flushing Financial Co. (FFIC).

Wunderlich reiterated a “Hold” rating on Ceva Inc (CEVA). They have a price target of $32.00 on the company.

Varian Medical (NYSE:VAR) Will Gain from Revitalized Hospital Purchasing

Varian Medical (NYSE:VAR) offers a good risk/reward opportunity, according to Jefferies (NYSE:JEF), citing an improving environment in hospital purchasing.

Jefferies said that, "although the Japan comp interrupts VARs consecutive double digit oncology order growth streak, we believe VAR is best positioned to capture the Rad Onc growth opportunity over the next few years. GM expansion will drive upside to out year EPS estimates allowing us to maintain our bullish view."

They raised their full year 2011 EPS estimate from $3.40 to $3.45.

Jefferies maintains a "Buy" rating on Varian, which was trading at $68.75, falling $3.21, or 4.46 percent, as of 2:54 PM EST. Jefferies boosted their price target on Varian from $71 to $84.

JPMorgan (NYSE:JPM) MedTech Favorites Include St. Jude (NYSE:STJ), Covidien (NYSE:COV), Insulet (Nasdaq:PODD), BioMimetic Therapeutics (Nasdaq:BMTI)

JPMorgan (NYSE:JPM) gave their 2011 outlook on numerous companies within the MedTech sector today, with their favorites being St. Jude (NYSE:STJ), Covidien (NYSE:COV), Insulet (Nasdaq:PODD) and BioMimetic Therapeutics (Nasdaq:BMTI)

Those companies with the sector JPMorgan expects to outperform include Becton, Dickinson and Company (NYSE:BDX), Stryker (NYSE:SYK), Varian Medical (NYSE:VAR), Edwards Lifesciences (NYSE:EW), Nxstage Medical (Nasdaq:NXTM), Hologic (Nasdaq:HOLX), Heartware (Nasdaq:HTWR), Volcano (Nasdaq:VOLC) and SonoSite (Nasdaq:SONO).

MedTech companies viewed with downside by JPMorgan are Intuitive Surgical (Nasdaq:ISRG), Boston Scientific (NYSE:BSX), Medtronic (NYSE:MDT), Wright Medical Group (Nasdaq:WMGI), CareFusion (NYSE:CFN), Thoratec (Nasdaq:THOR) NuVasive (Nasdaq:NUVA), Mako Surgical (Nasdaq:MAKO) and American Medical Systems (Nasdaq:AMMD).

St. Jude closed Tuesday at $42.28, losing $0.47, or 1.10 percent. Covidien closed at $47.45, gaining $1.79, or 3.92 percent. Insulet ended the day at $16.07, up $0.57, or 3.68 percent. BioMimetic Therapeutics closed at $13.46, up $0.76, or 5.98 percent.