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
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