Strong Buy - Price 22.90 on Nov. 6 by Wedbush Morgan Q2 results were significantly above expectations, and management raised guidance for fiscal-year 2008. ...For FY09, we [see] modest revenue-growth decline, but significant operating leverage, as the publishing/distribution mix shifts in favor of higher margins [and] owned intellectual property in a greater portion of publishing revenues. Raising 12-month target to 27.50, from 24.50.

Strong Buy - Price 5.63 on Nov. 6 by JMP Securities Strong enrollment in Allos' pivotal Propel trial [for peripheral T-cell lymphoma]...is on target for completion in 2Q08 due to accelerated accrual...Upgrading our rating from Market Outperform to Strong Buy; maintaining 12 target. Near-term, we look for progress in other hematologic and tumor [area]s to enhance investor confidence.

Sell - Price 52.32 on Nov. 6 by Zacks Equity Research While we believe ICOS acquisition will boost...top line, as Lilly now reports 100% of Cialis sales, we believe this is already figured into the stock price. We don't believe Lilly's 14.8 times [multiple, versus] peer-group average 16.5 times, is warranted, given uncertainty over approvability of prasugrel [anti-clotting drug]. We think other names offer more attractive valuations [and] more clarity to their pipeline. Target: 48.

Hold - Price 14.71 on Nov. 6 by Sterne Agee After strong year-to-date performance for the shares relative to bank and thrift peers, and challenging road ahead...we're downgrading Investors [a $1.6 billion holding company for Investors Savings Bank] to Hold from Buy. Maintaining 16 price target and longer-term positive view...From August '07 lows for bank and thrift group, ISBC has advanced by 30%, versus 4% for Nasdaq Bank Index. Target: 16.

Buy - Price on 27.70 Nov. 7 by FTN Midwest Securities [Holding company] MXGL again surprised on the upside with GAAP EPS of $1.05, versus our estimate of 69 cents/consensus 74 cents. Gains from the alternative-investment portfolio were 23 cents a share, versus our 33-cent projection...We're increasing 2007E EPS [by 41 cents] to $4.48, while 2008E EPS decreases 47 cents to $3.70 on lower premiums and dilution from Max Specialty. On valuation of 1 times current book value, we...affirm our 35 target.

Accumulate - Price 4.51 on Nov. 6 by Think Equity Progressive will settle the outstanding Webb litigation [involving a British gaming company] for $20 million in cash...eliminat[ing] the overhang on the stock and enabl[ing] PGI to allocate more resources toward core systems business...our 5 price target is based on 3 times enterprise value/fiscal-year 2008 estimated revenue, cash, and debt levels...the stock is trading at 2.7 times our FY08 estimates.

Outperform - Price 37.38 on Nov. 6 by Morgan Keegan Shares of Warnaco [which owns and licenses clothing brands, including Calvin Klein sportswear, Speedo swimwear and Warner's intimate apparel] are currently trading at 17.5 times our FY07 EPS estimate of $2.14, 7.3 times our FY07 earnings before interest, taxes, depreciation and amortization [Ebitda] estimate, and at an 8.3% [free-cash-flow] yield. Based on FY08, shares trade at 14.7 times our EPS estimate of $2.55 and at 6.6 times our Ebitda estimate, and have a 9.3% FCF yield.

Hold - Price 41.93 on Nov. 6 by Sandler O'Neill Given further deterioration in the credit markets, we are expecting another sizable writedown in 4Q07, coupled with a slower assumed recovery to affected businesses [in] '08. We also expect WB to step up pace of provisioning for loan losses...We are lowering our 4Q07 and 2007 EPS estimate by 29 cents to 83 cents and $3.98, respectively, and 2008 by 40 cents to $4.40. We're reducing our 12-month price target by $7, to 45, owing to our lowered EPS estimates, a steeper assumed discount to peer median price/earnings multiple, and lower peer median multiple overall.