Analyst upgrades 2-27-07: UBS turns the lights on at General Electric
Posted Feb 27th 2007 10:44AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, General Electric (GE), Marvell Technology Group (MRVL)
MOST NOTEWORTHY: General Electric Co (GE), Brocade Communications Systems Inc (BRCD) and Netease.com Inc ADS (NTES) rounded out today's more notable upgrades:
- UBS upgraded General Electric Co (NYSE: GE) to Buy from Neutral with a $14 target based on valuation and expectations for strong earnings in its gas turbine business.
- Brocade Communications Systems Inc (NASDAQ: BRCD) was upgraded by Goldman Sachs to Buy from Neutral with an $11 target to reflect the cost savings associated with the McData acquisition. Bear Stearns also upgraded Brocade to Outperform from Peer Perform following its Q1 report and $200 buyback; Raymond James upgraded shares to Outperform from Market Perform.
- Deutsche Bank upgraded Netease.com Inc ADS (NASDAQ: NTES) to Hold from Sell with a $23 target following the company's Q4 report.
OTHER UPGRADES:
- Credit Suisse upgraded Reuters Group ADS (NASDAQ: RTRSY) to Outperform from Neutral citing the company's favorable outlook.
- Citigroup upgraded Moody's Corp (NYSE: MCO) to Buy from Hold with a $77 target as they believe weakness surrounding the company's quarter has created a buying opportunity.
- William Blair upgraded Career Education Corp (NASDAQ: CECO) to Market Perform from Underperform.
- BWS Financial upgraded shares of CuraGen Corp (NASDAQ: CRGN) to Strong Buy from Buy with an $8 target following its recent sell-off. The firm believes the concerns that CuraGen will not be able to sell its 454 Life Science stake are baseless.
- Caris upgraded Marvell Technology Group (NASDAQ: MRVL) to Above Average from Average following its solid quarter as they believe Marvell has worked through the excess inventory in storage and wireless LAN. Needham also upgraded Marvell Tech to Buy from Hold with a $26 target following its Q4 results.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: analyst, brcd, brocade, career edu, career education, CareerEdu, CareerEducation, ceco, crgn, curagen, ge, general electric, GeneralElectric, marvell tech, MarvellTech, mco, moodys, mrvl, netease, ntes, rating, rating change, RatingChange, reuters, rtrsy, theflyonthewall.com, upgrade
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Reader Comments (Page 1 of 1)
2-27-2007 @ 12:50PM
Michael J Dunn said...
At the rate Immelt is going the ubs upgrade to $14
seems doable whether that was a mistake or not.