Analyst upgrades 5-07-07: ABT, CVC, DRI and UAUA
Posted May 7th 2007 11:48AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, Abbott Laboratories (ABT), Darden Restaurants (DRI), UAL Corp (UAUA)
MOST NOTEWORTHY: Cablevision Systems Corp (CVC), UAL Corp (UAUA), Abbott Laboratories (ABT), Darden Restaurants (DRI) and the food industry were today's noteworthy upgrades:
- Citigroup upgraded Cablevision (NYSE: CVC) to Hold from Sell with a $36 target to reflect the Dolan's bid for the company.
- Credit Suisse upgraded shares of UAL Corp (NASDAQ: UAUA) to Outperform from Neutral citing valuation and capacity reductions.
- Abbott Labs (NYSE: ABT) was upgraded to Overweight from Equal Weight at Lehman Brothers citing valuation and potential upside in the pharma business.
- Bear Stearns raised Darden Restaurants (NYSE: DRI) to Outperform from Peer Perform citing the announcement of the divestiture of Smokey Bones, which takes away a drag on earnings.
- Wachovia upgraded the food industry to Overweight from Equal Weight, saying food companies are beginning to drive higher prices through the supply chain and yields look attractive.
OTHER UPGRADES:
- Buckingham raised DSW Inc (NYSE: DSW) to Accumulate from Neutral with a $46 target.
- Deutsche Bank upgraded Cemex ADS (NYSE: CX) to Buy from Hold with a $41 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: abbott, abt, analyst, Cablevision, cemex, cvc, cx, darden, dri, dusa, healthways, hway, rating, theflyonthewall.com, ual, uaua, upgrade, waste, wcn
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