Analyst upgrades 6-08-07: RDS.A, BRCM and NSM
Posted Jun 8th 2007 10:12AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, QUALCOMM Inc (QCOM), Genentech Inc (DNA)
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MOST NOTEWORTHY: Royal Dutch Shell PLC (NYSE:
RDS.A),
Broadcom Corporation (NASDAQ:
BRCM) and
National Semiconductor Corporation (NYSE:
NSM) were today's noteworthy upgrades:
- Royal Dutch Shell was upgraded to Buy from Neutral at Merrill Lynch to reflect the company's strong refining backdrop and potential for positive surprise in the gas and power and downstream segments.
- Broadcom was upgraded to Market Outperform from Market Perform at JMP Securities following positive channel checks and the recent court win over Qualcomm Incorporated (NASDAQ: QCOM).
- UBS upgraded shares of National Semiconductor to Buy from Neutral on the Q4 upside, ongoing share buyback and guidance which calls for further margin improvement.
OTHER UPGRADES:
- Banc of America upgraded shares of Qwest Communications International Inc (NYSE: Q) to Buy from Neutral to reflect greater visibility into cash flow generation potential through 2008.
- Banc of America also upgraded Cincinnati Bell Inc (NYSE: CBB) to Neutral from Sell, as they believe the stock is not a sell in a market focused on cash flow.
- Genentech Inc (NYSE: DNA) was upgraded at Deutsche Bank to Buy from Hold based on compelling valuation and fundamental outlook.
- Bear Stearns upgraded shares of Nordstrom Inc (NYSE: JWN) to Outperform from Peer Perform citing the recent share pullback and top-line growth.
Tags: BRCM, Broadcom, Broadcom Corp, BroadcomCorp, CBB, Cincinnati Bell, CincinnatiBell, DNA, Genentech, JWN, National Semi, National Semiconductor, NationalSemi, NationalSemiconductor, Nordstrom, NSM, Q, QCOM, Qualcomm, Qwest, Qwest Communications, QwestCommunications, RDS.A, RDS.B, Royal Dutch Shell, RoyalDutchShell, Shell
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