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Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Anheuser-Busch Cos, Inc. (NYSE: BUD), BHP Billiton, Ltd. (NYSE: BHP), Rio Tinto Plc. (NYSE: RTP), Chunghwa Telecom Co., Ltd. (NYSE: CHT) and Texas Capital Bancshares, Inc. (Nasdaq: TCBI).

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Here are highlights from Wednesday's Analyst Blog:

BUD Downgraded to a Sell

Anheuser-Busch Cos, Inc. (NYSE: BUD) is benefiting from industry consolidation of production and a growing international beer presence from the management's astute acquisition strategy. Though there are concerns about higher commodity costs, especially energy, agricultural, and packaging costs, the results year-to-date demonstrate the management's ability to implement productivity programs to offset the negative inflationary effects.

The company has received a buyout proposal for $70 per share in cash. The stock has rallied to our target; therefore, the recommendation has been lowered to a Sell. Anheuser-Busch stock has traded in a P/E range of 16 to 27 over the last five years. The current P/E is 22.8. The target of $70 is based on the friendly takeover/merge price of $70 cash.

BHP Billiton Ironing Wrinkles

BHP Billiton, Ltd. (NYSE: BHP) is the world's largest diversified resource company with operations in 25 countries. Notwithstanding the associated anti-trust issues, we believe a potential merger between BHP and Rio Tinto (NYSE: RTP) can deliver synergy benefits and offset rising operating costs, which have been trending upwards.

In addition, the merged company would become the world's largest producer of copper and aluminum and the second-largest provider of iron ore. Nonetheless, given that Rio Tinto rejected the terms of the original proposal, the deal seems far from certain. Moreover, fear of a global economic slowdown leads us to maintain a cautious outlook on the stock. We retain our Hold recommendation on the shares of BHP.

Chunghwa a Top Asian Telecom

Chunghwa Telecom Co., Ltd. (NYSE: CHT) announced better-than- expected second quarter 2008 financial results. This was primarily due to improved gross margin and higher non-operating income. Robust growth of Internet & Data and Wireless value-added services boosted sustainable long-term business prospects for the company.