Analyst upgrades 6-21-07: AMD, JPM, NVDA, PNRA and SYMC
Posted Jun 21st 2007 11:33AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, JPMorgan Chase (JPM), Advanced Micro Dev (AMD), Symantec Corp (SYMC)
MOST NOTEWORTHY: JP Morgan Chase (JPM), Symantec (SYMC), Advanced Micro Devices (AMD), Nvidia (NVDA) and SVB Financial Group (SIVB) were today's more notable upgrades:
- Keefe Bruyette upgraded JP Morgan Chase (NYSE: JPM) to Outperform from Market Perform based on valuation and superior execution.
- Symantec Corp (NASDAQ: SYMC) was raised to Outperform from Neutral at Baird as they believe integration issues from Veritas (CGV) are behind the company and expectations that shares will benefit from investments made during the past two years.
- Stifel upgraded Advanced Micro Devices (NYSE: AMD) to Short-Term Trading Buy from Neutral and recommends buying shares of AMD ahead of the Q2 report given market stabilization, the seasonally stronger 2H, and any positive commentary during the call that may be enough to encourage renewed investor interest.
- Lehman upgraded Nvidia (NASDAQ: NVDA) to Overweight from Equal Weight citing checks that indicate a strong product cycles & shares gains in notebooks, improving seasonal demand, and new product traction.
- Citigroup upgraded shares of SVB Financial (NASDAQ: SIVB) to Hold from Sell to reflect less earnings volatility due to more later-stage customers and growing funds management...
OTHER UPGRADES:
- Citigroup upgraded MBIA Inc (NYSE: MBI) to Buy from Hold.
- Banc of America upgraded Sybase (NYSE: SY) to Buy from Neutral.
- Lehman raised Swisscom (NYSE: SCM) to Overweight from Equal Weight.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: amd, analyst, ibi, interline, jpm, mbi, mbia, morgan, nvda, nvidia, panera, pnra, rating, scm, svb financial, SvbFinancial, swisscom, sy, sybase, symantec, symc, theflyonthewall.com, upgrade
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Reader Comments (Page 1 of 1)
6-21-2007 @ 1:06PM
Murray said...
Stifl's Cody Acree based his upgrade on HIS perception That AMD has regained some Mkt share without his explaining how he came by this idea.
If we look at Dell's and Hp's Catalogs it is clear that AMD has lost share with these companies. Also, the Ads in PC World, PC magazine and the weekly store flyers plainly show that very few PC manufacturers are featuring AMD machines. Besides, the companies that are usinmg AMD chips for the most part, are small companies with very small sales. In addition, Dell, HP, and SUNW are using more Intel chips than previously.
I would like to see Stifl and Acree disclose their holding in AMD and Intel.