Analyst upgrades 5-21-07: ADBE, CMCSA, MSFT, SNE and TIF
Posted May 21st 2007 10:48AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, Microsoft (MSFT), Sony Corp ADR (SNE), Adobe Systems (ADBE), Tiffany and Co (TIF), Comcast Cl'A' (CMCSA), BP p.l.c. ADS (BP), Valero Energy (VLO), Time Warner Cable (TWC), aQuantive Inc (AQNT)
MOST NOTEWORTHY: Microsoft (MSFT), Sony Corp (SNE), Adobe Systems Inc (ADBE) and the cable sector were today's noteworthy upgrades:
- DA Davidson upgraded Microsoft Corp (NASDAQ: MSFT) to Buy from Neutral, as the firm is no longer concerned the tech giant will acquire Yahoo! (YHOO) following the recent acquisition of aQuantive, Inc (AQNT).
- HSBC upgraded shares of Sony Corp (NYSE: SNE) to Overweight from Neutral to reflect improving profitability at Sony's electronics business.
- Pacific Crest upgraded Adobe Systems (NASDAQ: ADBE) to Outperform from Sector Perform to reflect the strong CS3 outlook and growth in new areas such as mobile.
- Citigroup upgraded their cable sector view as they continue believe cap ex will remain at elevated levels at a time when the marginal cable investor is likely more willing to forego near-term FCF growth to achieve robust EBITDA growth. Along with the raised sector view, Citigroup upgraded Time Warner Cable (NYSE: TWC) and Comcast Corp (NASDAQ: CMCSA) to Buy from Hold. The firm believes investors can benefit from owning both EchoStar Communications (DISH) and cable equities...
OTHER UPGRADES:
- Bear Stearns upgraded Tiffany & Co (NYSE: TIF) to Outperform from Peer Perform.
- ING upgraded BP plc (NYSE: BP) to Buy from Hold.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: adbe, adobe, aeo, american eagle, AmericanEagle, analyst, aquantive, bp, cable, dish, echostar, microsoft, rating, sepr, sepracor, sony, theflyonthewall.com, tif, tiffany, time warner cable, TimeWarnerCable, twc, upgrade, valero, vlo, yahoo, yhoo
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