Analyst upgrades 5-24-07: CSG, HNZ, IP, NYT and OVEN
Posted May 24th 2007 11:17AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, New York Times'A' (NYT)
MOST NOTEWORTHY: New York Times Co (NYT), New York Community Bancorp, Inc (NYB), Cadbury Schweppes plc (CSG), International Paper Co (IP) and TurboChef Technologies, Inc (OVEN) were today's noteworthy upgrades:
- JP Morgan upgraded shares of the New York Times Co (NYSE: NYT) to Neutral from Underweight to reflect easier advertising sales comparisons the rest of the year and the possibility for a stepped-up buyback program.
- Bernstein upgraded shares of Cadbury Schweppes (NYSE: CSG) to Outperform from Market Perform and revised its sum-of-the-parts and "real options" analysis. The firm still sees major upside and limited downside at these levels.
- Matrix believes higher selling prices and lower costs are improving profit margins at International Paper (NYSE: IP).
OTHER UPGRADES:
- Citigroup upgraded H.J. Heinz Co (NYSE: HNZ) to Buy from Hold with a $52 target.
- Baird transitioned coverage of Pike Electric Corp (NYSE: PEC) with an Outperform rating, up from Neutral.
- Buckingham raised Eaton Corp (NYSE: ETN) to Strong Buy from Accumulate.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: analyst, cadbury, corporate office, CorporateOffice, csg, eaton etn, EatonEtn, heinz, hnz, international paper, InternationalPaper, ip, medical properties, MedicalProperties, mpw, new york community, new york times, NewYorkCommunity, NewYorkTimes, nyb, nyt, ofc, oven, pec, pike, rating, theflyonthewall.com, turbochef, upgrade
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