Analyst upgrades 6-4-07: Wal-Mart's quad upgrade, MOT, SIRI
Posted Jun 4th 2007 11:17AM by Melly Alazraki
Filed under: Analyst upgrades and downgrades, Wal-Mart (WMT), Motorola (MOT), Sirius Satellite Radio (SIRI)
MOST NOTEWORTHY: The cable and satellite sector, Wal-Mart Stores (WMT) and Motorola (MOT) were today's noteworthy upgrades:
- Credit Suisse upgraded the cable and satellite sector to Market Weight based on cable's solid long-term strategic position, attractive valuations and expectations that new industry that new industry consolidation will continue. Additionally, the firm upgraded Mediacom Communications Corp (NASDAQ: MCCC) to Outperform from Market Perform and Charter Communications (NASDAQ: CHTR) to Outperform from Underperform.
- Wal-Mart Stores Inc. (NYSE: WMT) was upgraded to Overweight from Neutral at JP Morgan, as the firm believes the company has reached an inflection point following the company's plans to cut capital expenditure by around $2.5B and return $15B to shareholders through a buyback program. Wachovia upgraded shares of Wal-Mart to Outperform from Market Perform citing management's plans to slow U.S. store growth, reduce cap-ex and increase share buybacks. Morgan Stanley upgraded Wal-Mart to Overweight from Equal Weight and to Overweight from Neutral at HSBC.
- Motorola Inc. (NYSE: MOT) was upgraded to Sector Outperformer from Sector Performer at CIBC World Markets to reflect optimism on the company's product portfolio and margin progress. They believe the company's focus on margins and not share should lead to a higher long-term margin model.
OTHER UPGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: charter communications, CharterCommunications, chtr, mbt, mccc, mco, mediacon communications, MediaconCommunications, mobile telesystems, MobileTelesystems, moody's, mot, motorola, navi, navisite, onxx, onyx, siri, sirius, uhs, universal health, UniversalHealth, wal-mart, wmt
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