Upgrade summary 7-02-07: ADM, CBH, COST, LVS and TRB
Posted Jul 2nd 2007 10:23AM by Kevin Shult
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, Archer-Daniels-Midland (ADM), Tribune Co. (TRB), Costco Wholesale (COST), Las Vegas Sands (LVS)
MOST NOTEWORTHY: Tompkins plc (TKS), Commerce Bancorp (CBH), Tribune Co (TRB) and Progressive Gaming International Corp (PGIC) were today's noteworthy upgrades:
- Merrill Lynch upgraded shares of Tompkins plc (NYSE: TKS) to Neutral from Sell on valuation as they believe the company's exposure to the weak U.S. residential and automotive markets is priced into shares.
- RBC Capital raised Commerce Bancorp (NYSE: CBH) to Sector performer from Underperformer. They view the terms of the consent order as a positive and believe the company will now consider a sale given the resignation of CEO Vernon Hill. Keefe Bruyette also upgraded shares of Commerce to Market Perform from Underperform.
- Deutsche Bank upgraded Tribune Co (NYSE: TRB) to Buy from Hold as they believe the going-private transaction will be completed.
- ThinkEquity upgraded Progressive Gaming (NASDAQ: PGIC) to Buy from Accumulate following a recent trip to Macau and marketing meetings with management that reinforced their confidence in the company's long-term viability and strong market positioning...
OTHER UPGRADES:
- InterOil Corp (AMEX: IOC) was upgraded to Strong Buy from Outperform at Raymond James.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: adm, analyst, archer, cbh, commerce, cost, costco, interoil, las vegas sands, LasVegasSands, lvs, mcclatchy, mni, oic, pgic, progressive, rating, sands, theflyonthewall.com, tks, tompkins, trb, tribune, upgrade
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