Strong Buy - Price 58.05 on June 10 by Raymond James Based on our 50% "risking" of the acreage and relatively conservative estimates of flow rates and recoveries, we believe the [newly announced 500,000-net-acre Haynesville Shale, La.] play adds above $25 a share in net asset value, thus we're raising our target from 70 to 85....Conservative estimates on remaining shale acreage (Fayetteville, Marcellus) increases the total company NAV to a price [above] $100/share....Despite vast...holdings and extremely visible growth rate, CHK still trades at a valuation of $4.07 [per thousand cubic feet of natural-gas equivalent] on proven reserves and 6.8 times '09 [earnings before interest, taxes, depreciation and amortization], versus our large-cap universe median of $4.23/mcfe and 6.5 times. Market cap: $29.9 billion.

Neutral - Price 31.69 on June 10 by Cowen & Co. Kung Fu Panda will likely be DWA's first non-Shrek film to exceed $200 million domestic box office...We expect Panda to perform roughly in-line with Madagascar....We believe DWA shares are likely to trade near current levels through the release of Madagascar: Escape 2 Africa on Nov. 7, which should be the next catalyst for DWA (up or down). We [reiterate] Neutral rating, due to DreamWorks' uneven track record [on] film quality. Market cap: $2.9 billion.

Buy - Price 26.95 on June 10 by Sandler O'Neill Although May [assets under management] were already about 1% ahead of our $486 billion forecast for the quarter's end, we're leaving our '08 and '09 [earnings-per-share estimates] unchanged at $1.72 and $2.09; [and despite] recent equity-market pullbacks, [reiterate our] 32 target, which represents almost 20% upside potential from current level. Market cap: $11.5 billion.

Outperform - Price 72.04 on June 10 by Credit Suisse Following the split-off from Loews, LO [previously traded as Carolina Group] will start trading as an independent company. We believe LO stock will be supported by...elimination of the overhang from the splitoff, addition of LO to the [Standard & Poor's 500 index], LO's more attractive relative fundamentals in a difficult operating environment, and take-out potential...To reflect elimination of CG-specific items, we're updating our fiscal-year 2008 EPS estimate to $5.19 (from $5.14) and our FY09 EPS estimate to $5.69 (from $5.64).

Sector Perform - Price 33.17 on June 10 by RBC Capital Markets We're reducing our growth rates for Paychex due to negative impact of rising unemployment [and] weak U.S. economy['s effect] on small business. Increased customer bankruptcies, declining checks per client and slower new-business [pace may] reduce core payroll growth to below its 8% target. Three-year estimated EPS growth: 7.38%. Target 34 assumes 21 times our forward E-EPS, $1.63 (was $1.61). Market cap: $11.9 billion.

Outperform - Price 11.15 on June 10 by Baird Securities Hologic announced...a definitive agreement to acquire TWTI in a cash deal worth $11.25/share, [which we see as] positive for TWTI shareholders. Our 12 target is based on target price/sales multiple of 9 times, which we think is in line with historical P/S range of six to 13 times in comparative...specialty diagnostics. We're using a 2009 sales basis for TWTI to reflect its potential [to enter] high-growth markets such as [human papillomavirus] and pharmacogenomics. Market cap: $488 million.

Market Perform - Price 32.96 on June 10 by Rodman & Renshaw Telaprevir [looks like] the most promising therapy for hepatitis-C in development....With headline risk in next six to nine months from competitors' [advance], we believe VRTX shares will perform in line with biotech indexes. Reiterate our Market Perform. Market cap: $4.6 billion.

Sell - Price 12.11 on June 10 by Soleil Group WNR's debt troubles are add[ing] to difficult year...with the shares having declined about 80% from its July 2007 highs versus a 12% drop in the S&P 500....But with WRF trading at a significant premium to its peers on 2008 and 2009 EV/Ebitda, high regulatory and maintenance capital expenditures...and the likelihood that a debt covenant will be broken at the end of 2Q08, we believe additional downside in the share price remains. Market cap: $827.4 million.