Analyst upgrades 3-21-07: Tiffany & Co, Best Buy & Office Depot all upgraded today
Posted Mar 21st 2007 11:01AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, Best Buy (BBY), Clorox Co (CLX), Tiffany and Co (TIF), Office Depot (ODP)
MOST NOTEWORTHY: ABN Amro Holding NV (ABN), Werner Enterprises, Inc (WERN), Affiliated Computer Services, Inc (ACS) and Express Scripts (ESRX) were today's more notable upgrades:
- Citigroup upgraded ABN Amro Holding NV (NYSE: ABN) to Hold from Sell as the firm believes value can be realized by breaking the company up and selling units to top bidders.
- UBS upgraded both Werner Enterprises (NASDAQ: WERN) and Affiliated Computer Services to Neutral from Reduce, based on valuation.
- Express Scripts (NASDAQ: ESRX) was upgraded to Outperform from Market Perform at Leerink Swann.
OTHER UPGRADES:
- JP Morgan upgraded Clorox Co (NYSE: CLX) to Overweight from Neutral.
- Bank of America upgraded shares of Tiffany & Co (NYSE: TIF) to Buy from Neutral with a $52 target. The firm believes Tiffany can improve profitability through better operations, efficiency and downside protection from the strong luxury cycle.
- Credit Suisse added Office Depot, Inc (NYSE: ODP) to its U.S. Focus List. The firm believes that Office Depot has the most attractive risk/reward profile in the industry and sees limited downside risk given recent weakness and reduced investor expectations.
- Kaufman upgraded Best Buy Co, Inc (NYSE: BBY) to Buy from Hold with a $59 target.
- Goldman Sachs upgraded Nvidia Corp (NASDAQ: NVDA) to Buy from Neutral with a $33 target, citing valuation.
- Lehman Brothers upgraded Cadbury Schweppes plc (NYSE: CSG) to Overweight from Equal Weight.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: abn, analyst, bby, cadbury, clorox, clx, csg, dest buy, DestBuy, esrx, express scripts, ExpressScripts, nvda, nvidia, odp, office depot, OfficeDepot, rating, theflyonthewall.com, tif, tiffany, upgrade, wern, werner
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