Analyst upgrades 7-23-07: AFL, AMGN, BUD and TIVO
Posted Jul 23rd 2007 10:30AM by Kevin Shult
Filed under: Analyst reports, Analyst upgrades and downgrades, Good news, AFLAC Inc (AFL), Anheuser-Busch Cos (BUD), Amgen Inc (AMGN)
MOST NOTEWORTHY: Anheuser-Busch (BUD), Imax Corp (IMAX), Amgen (AMGN), Fifth Third Bancorp (FITB) and TiVO (TIVO) were today's noteworthy upgrades:
- Citigroup upgraded shares of Anheuser-Busch (NYSE: BUD) to Hold from Sell as they see a 70% chance of an alliance between Anheuser-Busch and InBev in the next two years; they believe such a merger would create a market leader.
- Merriman upgraded IMAX Corp (NASDAQ: IMAX) to Buy from Neutral after IMAX removed its overhang by completing SEC filings, while fundamentals have remained strong.
- Citigroup upgraded Amgen (NASDAQ: AMGN) to Hold from Sell to reflect the potential for CMS to roll back proposed reimbursement cuts in oncology, an improving risk/reward profile and the potential for positive phase 3 denosumab data by year-end.
- Kaufman upgraded TiVO (NASDAQ: TIVO) to Buy from Sell as indicators of the change in its business model suggest a positive transaction. The firm feels the the EchoStar (DISH) litigation provides an attractive risk/reward potential, creating an attractive entry point...
OTHER UPGRADES:
- Aflac (NYSE: AFL) was upgraded at Lehman to Overweight from Underweight.
- Navteq (NYSE: NVT) was upgraded to Buy from Neutral at UBS.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: afl, aflac, amgen, amgn, analyst, anheuser, bud, busch, eastman, emn, fifth third, FifthThird, fitb, imax, jack in the box, JackInTheBox, jbx, prg, progressive, rating, theflyonthewall.com, tivo, upgrade
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