Hold - Price 16.19 on May 11 by Wedbush Morgan Third-quarter earnings per share of three cents, versus 17 cents a year ago, were in line [with our estimate], despite lower solar-product revenue...down by 5.7%...due to lower-than-expected shipment volumes. With strong cost controls and reductions in production, operating margin offset the weaker top line. Our 14 price target (P/E of 12.7 times) is down from 16, as we continue to apply the low end of our 10-to-20 times solar price/earnings multiple. Our lowered fiscal- year 2010 EPS estimate of $1.10, down from $1.63, adjusts for continued weak demand, planned manufacturing furloughs and financing risk, offset by the niche product targeted for commercial rooftops and countries with high government incentives. Shares could trade nearest book value of 16 per share, until positive trends related to demand and financing return. Market cap: $794 million.

Hold - Price 9.40 on May 12 by Standard & Poor's Equity Research 1Q adjusted EPS of 26 cents -- versus 51 cents [a year ago] -- were well above our eight-cent estimate, reflecting the exclusion of significant noncash charges. We see KG making progress on its new strategic initiative in abuse-resistant pain drugs, with Food and Drug Administration [new-drug approvals] likely...near term. While possible generic challenges to Skelaxin remain a key risk, we think KG's outlook should improve with new drugs and Alpharma synergies. We are raising our target price by $6, to 11, applying a peer-level P/E of 11 times our '09 EPS estimate of $1, raised by 20 cents today. Market cap: $2.3 billion.

Long-Term Buy - Price 39.20 on May 12 by Hilliard Lyons This [real-estate investment trust] owns or has an interest in 42,252 apartment units throughout the Sunbelt. 1Q [funds from operations] were $1.01...a record for any quarter in MAA's 15-year history. Strong occupancy and lower expenses contributed to FFO gain....We're raising our '09 per-share E-FFO by 12 cents, to $3.57...and our E-'10 to $3.64; we're raising our rating to Long-Term Buy with a 42 target price....We believe MAA deserves to trade at a higher multiple...due to a strong balance sheet, ability to weather a difficult employment environment and low near-term liquidity risk. Market cap: $1.2 billion.

Sell - Price 53.14 on May 12 by Sterne Agee & Leach We're lowering our '09 and '10 E-EPS to $3.76 and $3.20, from $3.87 and $3.47 [driven by]...inventory build, foreign-exchange, end-market weakness, elimination of share-repurchases for next 2Qs and more severe margin pressure....We think it's likely that [sales, general and administrative spending] will come down substantially in the next 2Qs, but will resume growth in '10 second half as Nike positions itself for the Euro Cup and continues to combat Adidas and local brands in China. Target: 43. Market cap: $29.5 billion.

Strong Buy - Price 13.08 on May 12 by Raymond James Nuance reported a good overall F2Q09...considering the macro environment. Non-GAAP EPS was 24 cents, versus consensus of 22 cents...[earnings before interest and taxes] were $74.7 million, versus our E$66.8 million. F2Q09 revenue was $238.8 million (up 9% year/over/year, down 2% sequentially), below consensus $245.2 million...primarily due to weakness in nonmedical Dragon and imaging....For FY09, Nuance lowered revenue guidance to [a range of] $1 billion to $1.02 billion (from $1.01 billion to $1.14 billion)....We're raising our target to 16 from 15, based on 16 times our FY09 non-GAAP EPS estimate of $1. Market cap: $3.5 billion.

Underperform/High Risk - Price 53.08 on May 11 by Boenning & Scattergood We are downgrading shares of PNC from Neutral to Underperform, and initiating a 43 target. In our opinion, the recent rise of share price has resulted in an unjustifiably high P/E multiple [near 18] for a bank of PNC's size, even in the best of times. The overall market's positive reaction to the apparent health of the nation's banking system lacks any degree of healthy skepticism. A list of institutions that passed stress tests in the past includes: Fannie Mae, Freddie Mac and AIG. We believe the market is overlooking (not looking past) a second wave of increasing foreclosures to come in 2H09 through 2010. With regard to PNC specifically, earnings should remain under pressure from problems with commercial-real-estate lending and exposure to markets heavily influenced by the auto industry. Market cap: $23.6 billion.