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MOST NOTEWORTHY: Norfolk Southern and Abercrombie & Fitch were today's most notable upgrades.- Citigroup upgraded shares of Norfolk Southern (NYSE: NSC) on valuation as they believe the recent weakness has brought shares to an attractive level.
- Merrill Lynch upgraded shares of Abercrombie & Fitch Co 'A' (NYSE: ANF), as the firm does not believe the stock's current valuation reflects the company's growth opportunities; additionally, the firm sees significant growth opportunities at the Hollister brand and expects free cash flow growth in 2007.
OTHER UPGRADES:
- Goldman Sachs upgraded Wellpoint Inc (NYSE: WLP) to Buy from Neutral, believing the company is better positioned in comparison to their peers to weather increasing price competition.
- Matrix USA upgraded TETRA Technologies (NYSE: TTI) to Buy from Hold, as Tetra continues to invest in expanding its well abandonment and decommissioning services in order to meet growing long-term demand forecasts, and its fluid division continues to benefit from higher bromine selling prices.
- JP Morgan added Outperform rated DivX Inc (NASDAQ: DIVX) to their Focus List.
- UBS upgraded Ingersoll-Rand (NYSE: IR) to Buy from Neutral.
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Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
