Analyst upgrades: GM, GMCR, OREX and NHY
Posted Oct 3rd 2007 10:50AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, General Motors (GM), Ciena Corp (CIEN)
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MOST NOTEWORTHY: General Motors, Green Mountain Coffee, Orexigen and Norsk Hydro were today's noteworthy upgrades:
- Banc of America upgraded shares of General Motors Corporation (NYSE: GM) to Neutral from Sell as they believe the agreement with the United Auto Workers union offsets a worsening outlook for sales.
- Piper Jaffray upgraded shares of Green Mountain Coffee Roasters (NASDAQ: GMCR) to Outperform from Market Perform after a meeting with management as they believe shares offer a compelling buying opportunity at current levels based on their 2009 estimates.
- JMP Securities upgraded shares of Orexigen Therapeutics (NASDAQ: OREX) to Strong Buy from Market Outperform as they believe the company's lead product candidates, Empatic and Contrave, could become front-line therapies for obesity due to improved durability of efficacy, increased safety and tolerability, and lack of addiction.
- Norsk Hydro (NYSE: NHY) was upgraded to Buy from Hold at Citigroup. The firm sees upside in the stock from the volume growth and further improvements in downstream operations.
OTHER UPGRADES:
Tags: analyst, cien, ciena, e, eni, general motors, GeneralMotors, gm, gmcr, green mountain, GreenMountain, nhy, norsk hydro, NorskHydro, orex, orexigen, smmx, symyx, temple inland, TempleInland, tin, upgrade
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