Upgrade summary 8-01-07: AAPL, ARBA, EMC, RNWK and RTN
Posted Aug 1st 2007 11:16AM by Kevin Shult
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Good news, Apple Inc (AAPL), EMC Corp (EMC), Anadarko Petroleum (APC), Stocks to Buy
MOST NOTEWORTHY: Apple (AAPL), Ariba (ARBA), EMC Corp (EMC), Anadarko Petroleum (APC) and RealNetworks (RNWK) were today's noteworthy upgrades:
- Apple Inc (NASDAQ: AAPL) was upgraded to Buy from Hold with a $160 target at Citigroup following yesterday's pullback; they believe Mac should remain strong through year-end, Q3 consensus estimates look conservative and believe production cuts should not be a surprise.
- Roth Capital upgraded shares of Ariba (NASDAQ: ARBA) to Buy from Hold as they believe shares work higher over then next few quarters; they expect seasonally strong September and December quarters and believe that revenue bottomed last year.
- Goldman added EMC Corp (NYSE: EMC) to its Conviction Buy List, citing Q2 results and multiple product cycles.
- Anadarko Petroleum (NYSE: APC) was raised to Market Perform from Underperform at BMO Capital following better than expected Q2 results and guidance.
- RealNetworks (NASDAQ: RNWK) was upgraded to Hold from Sell at Soleil on valuation after reporting solid Q2 earnings...
OTHER DOWNGRADES:
- PetSmart (NASDAQ: PETM) was upgraded to Outperform from Neutral at Credit Suisse.
- BWS Financial raised Xoma (NASDAQ: XOMA) to Buy from Hold.
- Matrix also raised Raytheon (NYSE: RTN) to Strong Buy from Buy.
- Wachovia upgraded St. Joe Co (NYSE: JOE) to Market Perform from Underperform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: aapl, anadarko, analyst, apc, apple, arba, ariba, emc, joe, mcgraw, mhp, petm, petsmart, rating, raytheon, realnetworks, rnwk, rtn, upgrade, xoma
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