MOST NOTEWORTHY: Procter & Gamble Co (PG), China Life Insurance Co (LFC) and EMC Corp (EMC) were some of today's more notable upgrades:
- Bear Stearns upgraded Procter & Gamble Co (NYSE: PG) to Outperform from Peer Perform with a $71 target based on valuation and favorable risk/reward.
- UBS upgraded China Life Insurance Co (NYSE: LFC) to Neutral from Reduce; Citigroup upgraded shares to Buy from Sell.
- Morgan Keegan upgraded shares of EMC Corp (NYSE: EMC) to Outperform from Market Perform on valuation as the firm believes all issues are priced into the stock and that management can drive significantly increased shareholder value.
OTHER UPGRADES:
- Citigroup upgraded Saks Inc (NYSE: SKS) to Buy from Hold with a $24 target.
- Jefferies upgraded Kenexa Corp (NASDAQ: KNXA) to Buy from Hold with a $38 target, citing valuation given the recent pullback.
- AG Edwards upgraded Crystal River Capital, Inc (NYSE: CRZ) to Buy from Hold with a $29 target to reflect the increased dividend, Q4 upside and attractive valuation.
- Matrix upgraded Tupperware Brands Corp (NYSE: TUP) to Buy from Hold as the firm believes demand for beauty products and food storage containers in emerging markets are driving strong sales growth.
- CL King upgraded Charming Shoppes, Inc (NASDAQ: CHRS) to Accumulate from Neutral.
- Gabelli upgraded SWS Group, Inc (NYSE: SWS) to Buy from Hold.
- Matrix upgraded Cameron International Corp (NYSE: CAM) to Strong buy from Buy.
- Buckingham upgraded Franklin Resources, Inc (NYSE: BEN) to Strong Buy from Neutral with a $145 target based on valuation and re-accelerating retail flows.
Analyst summaries provided by
TheFlyOnTheWall.com (subscription required).
Closing Bell: The wishy-washy return to Q3 (AA, DDUP, EMC, DNDN, CVX, FSLR, GS)
Oil, the stock market and economic inconsistency
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