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MOST NOTEWORTHY: Select integrated oil stocks and
Hawaiian Electrc (NYSE:
HE) were today's noteworthy upgrades:
- Deutsche Bank upgraded Chevron (NYSE:CVX) and ConocoPhillips (NYSE:COP) to Hold from Sell and Marathon Oil (NYSE:MRO) to Buy from Hold after increasing their 2008 oil price forecast to $80/bbl and 2010 forecast to $65/bbl.
- The firm also upgraded Lukoil (OTC:LUKOY)and StatoilHyro (NYSE:STO) to Buy from Hold to reflect near-term term forecasts for high oil prices and tight global supply.
- Baird expects Hawaiian Electric's (NYSE:HE) earnings to materially improve due to recently granted rate relief, and upgraded shares to Outperform from Neutral.
OTHER UPGRADES:
- Goldman upgraded Health Net (NYSE:HNT) to Buy from Neutral.
- Morgan Stanley upgraded Hewlett-Packard (NYSE:HPQ) to Overweight from Equal Weight.
- Expedia (NYSE:EXPE) was upgraded to Buy from Hold at Citigroup.
- Bernstein upgraded Sunoco (NYSE:SUN) to Outperform from Market Perform.
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