Analyst upgrades 6-13-07: BBI, BMY, SAPE and TAP
Posted Jun 13th 2007 11:22AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, Blockbuster Inc 'A' (BBI), Bristol-Myers Squibb (BMY)
MOST NOTEWORTHY: Blockbuster Inc (BBI), Molson Coors Brewing Co (TAP), Illumina, Inc (ILMN), and ARM Holdings plc (ARMHY) were today's more noteworthy upgrades:
- Citigroup upgraded Blockbuster Inc (NYSE: BBI) to Buy from Hold based on valuation, improving box office visibility and their belief that the lower-priced online-only rental product will help improve costs.
- Molson Coors Brewing (NYSE: TAP) was upgraded to Buy from Neutral at UBS based on valuation, volume strength and pricing.
- Matrix believes strong demand for genetic analysis equipment is boosting profits for Illumina (NASDAQ: ILMN), upgrading shares to Strong Buy from Sell; Matrix sees upside to their Intrinsic Value Calculation of $50/share.
- ARM Holdings (NASDAQ: ARMHY) was upgraded to Overweight from Underweight at JP Morgan to reflect the strength in the high-end handset market...
OTHER UPGRADES:
- RBC Capital raised Sapient Corp (NASDAQ: SAPE) to Outperform from Sector Perform.
- Piper Jaffray upgraded shares of Omnicell, Inc (NASDAQ: OMCL) to Outperform from Market Perform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: analyst, arm, armhy, bbi, blockbuster, bmy, bristol, chemical, chfc, illumina, ilmn, imnicell, molson, omcl, rating, sape, sapient, theflyonthewall.com, upgrade, wcc, wesco
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