Analyst upgrades 4-11-07: AMTD, GPS, NKE and WWE were upgraded today

Posted Apr 11th 2007 10:57AM by Kevin Shult
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Good news, Gap Inc (GPS), NIKE, Inc'B' (NKE), TD AmeriTrade Holding (AMTD)

MOST NOTEWORTHY: Gap Inc (GPS), World Wrestling Entertainment, Inc (WWE), AstraZeneca plc (AZN), and Nike, Inc (NKE) top today's list of noteworthy upgrades:

Wachovia upgraded shares of Gap Inc (NYSE: GPS) to Outperform from Market Perform citing increased visibility on the turnaround and execution given modest merchandising improvements at Old Navy and GapKids, potential cost-cutting by late Spring and Summer and potential improved products at Gap adult by the holiday season into Spring 2008.

Susquehanna upgraded shares of World Wrestling Entertainment inc (NYSE: WWE) to Positive from Neutral.

Bernstein upgraded AstraZeneca plc (NYSE: AZN) to Market Perform from Underperform citing valuation and more realistic expectations.

Off The Record Research changed their view to Positive on Nike Inc (NYSE: NKE) shares given the company's lack of discounting, share gains at Foot Locker (FL) and momentum in Europe.

OTHER UPGRADES:

Lehman Brothers upgraded LG Phillips LCD Co, Ltd (NYSE: LPL) to Overweight from Equal Weight citing a fundamentals turnaround in display and structural changes occurring now rather than in the second-half of 2007.

Friedman Billings believes TD AmeriTrade Holding Corp (NASDAQ: AMTD) has compelling risk/reward and upgraded shares to Outperform from Market Perform given significant free cash flow and an attractive valuation that increases the likelihood that the company could become a takeover target.

Goldman Sachs upgraded The Mosaic Co (NYSE: MOS) to Buy from Neutral on valuation.

Matrix USA upgraded Avocent Corp (NASDAQ: AVCT) to Buy from Hold on valuation.

AG Edwards upgraded American Home Mortgage nvestment Corp (NYSE: AHM) to Buy from Hold and believes the market has over-reacted, pulling shares down with it.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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