Canaccord Adams downgrades iRobot (IRBT) to Hold. The downgrade is based on a lack of visibility into sustained growth and the firm remains concerned about potential benefits from a high level of spending to educate consumers.
Baird downgrades SanDisk (SNDK) to Neutral and lowers their target to $43. The downgrade is based on a reduced gross margin outlook for this year driven by severe pricing pressures in NAND flash.
Cowen (COWN) says the results from their Cowen/CRN 'Vista Adoption' Study support their positive investment thesis on shares of Intel. With small and medium businesses, representing approx 74% of total domestic PC shipments, they note the survey results suggest SMBs plan to more aggressively deploy the Microsoft (MSFT) Vista operating system than most large enterprises, where the approval protocols tend to be more prohibitive. Due to the timing of the impact, these results do not assuage their healthy concern surrounding a drag from inventory burn in the March quarter. Coupled with higher PC unit demand, they anticipate a shift in demand trends toward high end microprocessors in support of the Vista operating system. As such, they modestly raise their 2008 revenue and EPS estimates and strongly reiterate their Outperform rating.