Analyst upgrades 5-09-07: AMZN, COMS, HPQ, IBM and JNY
Posted May 9th 2007 11:04AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, Hewlett-Packard (HPQ), Amazon.com (AMZN), International Business Machines (IBM), Jones Apparel Group (JNY)
MOST NOTEWORTHY: IBM Corp (IBM), Amazon.com, Inc (AMZN), Hewlett-Packard Co (HPQ), Universal Technical Institute (UTI) and 3Com Corp (COMS) were some of today's noteworthy upgrades:
- Goldman upgraded IBM Corp (NYSE: IBM) to Buy from Neutral to reflect the company's valuation creation moves, as the firm believes IBM's accelerated buyback program and pension expense reduction will be accretive to earnings.
- Despite ThinkEquity's belief that the company was faltering, Amazon.com (NASDAQ: AMZN) customers have grown in size and accelerated their purchases. The upgrade to Accumulate from Source of Funds was based on Amazon.com's increase of market share in core categories.
- AG Edwards upgraded Hewlett Packard (NYSE: HPQ) to Buy from Hold based on higher estimates, continued share gains and the evidence that HPQ has continued its cost cutting abilities.
- 3Com (NASDAQ: COMS) was upgraded to Hold from Sell at Matrix USA based on the company's improving balance sheet ..
OTHER UPGRADES:
- Prudential upgraded Alcan Inc (NYSE: AL) to Neutral from Underweight.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: 3com, al, alcan, amazon, amzn, analyst, bebe, coms, hewlett, hpq, ibm, jny, jones, lionbridge, liox, rating, theflyonthewall.com, time warner telecom, TimeWarnerTelecom, twtc, universal tech, UniversalTech, upgrade, uti
Black Friday expected to be strong, no promises for Christmas
Will JPMorgan chief Jamie Dimon be our next Treasury Secretary?
Gold surges to another new high of $1167 per ounce
