MOST NOTEWORTHY: The Semiconductor sector was the most notable upgrade today, made by the Stephens Group; the firm believes the risk of a severe downturn is moderating and that 2007 will likely be an up year rather than a down year.
OTHER UPGRADES:
- Credit Suisse upgraded Safeway Stores Inc. (NYSE:SWY) to Neutral from Underperform, a move that comes after yesterday's analyst meeting provided new information that shows Blackhawk is a meaningful initiative and 2007 guidance exceeded expectations. Additionally, Safeway's target was raised to $35 from $25.
- JP Morgan upgraded Harmony Gold Mining Company Ltd. (NYSE:HMY) to Overweight from Neutral, increasing L-T gold price forecasts to $575/0z from $525/oz , expecting shares to outperform the sector.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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