Analyst upgrades 6-05-07: AAP, SLR, CCL and RCL
Posted Jun 5th 2007 11:25AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Carnival Corp (CCL), Dow Chemical (DOW), BHP Billiton Ltd ADR (BHP)
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MOST NOTEWORTHY: Advance Auto Parts Inc (NYSE: AAP), Solectron Corporation (NYSE: SLR), Carnival Corporation (NYSE: CCL) and Royal Caribbean Cruises Ltd (NYSE: RCL) and were today's noteworthy upgrades:
- JP Morgan upgraded shares of Advance Auto Parts to Neutral from Underweight citing increased confidence in the company's turnaround efforts.
- Solectron was upgraded to Neutral from Underperform at Credit Suisse to reflect the company's acquisition by Flextronics International (NASDAQ: FLEX).
- Carnival was upgraded to Strong Buy from Outperform and Royal Caribbean was upgraded to Outperform from Market Perform at Raymond James.
OTHER UPGRADES:
- BHP Billiton Ltd (NYSE: BHP) was upgraded to Buy from Hold at Citigroup on valuation and their expectations for higher commodity prices.
- Matrix USA upgraded shares of Callaway Golf Company (NYSE: ELY) to Hold from Strong Sell, as the firm believes growing demand for new products is driving positive fundamental trends.
- Lehman upgraded Dow Chemical (NYSE: DOW) to Overweight from Equal Weight, citing the potential for an accretive acquisition of buyback.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: aap, advance auto parts, AdvanceAutoParts, analyst, bhp, callaway, carnival, ccl, dow, ely, flex, flextronics, rcl, royal caribbean, RoyalCaribbean, slr, solectron, upgrade
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