Analyst upgrades 8-27-07: AMZN, GIS and WFMI
Posted Aug 27th 2007 10:52AM by Kevin Shult
Filed under: Before the Bell, Analyst Reports, Analyst Upgrades and Downgrades, Good news, Amazon.com (AMZN), Whole Foods Market (WFMI), General Mills (GIS), Stocks to Buy
MOST NOTEWORTHY: Amazon.com (AMZN), Luminent Mortgage (LUM), Whole Foods (WFMI), Tenet Healthcare (THC) and Pediatrix Medical (PDX) were today's noteworthy upgrades:
- Bernstein upgraded Amazon.com (NASDAQ: AMZN) to Outperform from Market Perform, citing margins on 3rd party transactions that are close to eBay's (EBAY) and that the overseas merchants initiative will increase 3rd party units to 25% of sales. The move is expected to increase operating margins to 6.2% by 2011, above the previously expected improvement of 4.6% by the same time.
- JMP Securities said Luminent Mortgage's (NYSE: LUM) $64.9M emergency financing from Arco Capital may preserve some value for shareholders, and upgraded shares to Market Underperform from Sell.
- JP Morgan added Whole Foods (NASDAQ: WFMI) to its Focus List, and expects the Wild Oats (NASDAQ: OATS) acquisition to be a catalyst for shares.
OTHER UPGRADES:
- Rowan Co (NYSE: RDC) was upgraded to Outperform from Peer Perform at Bear Stearns.
- BMO Capital upgraded General Mills (NYSE: GIS) to Outperform from Market Perform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required). Tags: agl resources, AglResources, amazon, amzn, analyst, atg, atmos, ato, general mills, GeneralMills, gis, lum, luminent, oats, orly, pdx, pediatrix, rating, rdc, reilly auto, ReillyAuto, rowan, tenet, thc, upgrade, whole foods, WholeFoods, wild oats, WildOats
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