Tax Reform in This Election Year: It's Not Likely
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MOST NOTEWORTHY: BP Plc, Swiss Reinsurance and A. Schulman were today's noteworthy upgrades:
- Morgan Stanley upgraded shares of BP Plc (NYSE: BP) to Overweight from Equal Weight as they believe the company is at an inflection and net income should grow 22% in 2009.
- UBS upgraded Swiss Reinsurance (OTC: SWCEY) to Neutral from Sell on the company's balance sheet, which they believe is solid, but still sees material risk to consensus estimates.
- KeyBanc upgraded shares of A. Schulman (NASDAQ: SHLM) to Buy from Hold as they believe the new CEO has had a significant positive impact and that downside is limited from current levels.
OTHER UPGRADES:
- NASDAQ OMX Group (NASDAQ: NDAQ) was raised to Buy from Neutral at Piper.
- Ashland (NYSE: ASH) was upgraded to Neutral from Underweight at JP Morgan.
- BMO Capital upgraded Regal Entertainment (NYSE: RGC) to Outperform from Market Perform.
- Goldman upgraded Northrop Grumman (NYSE: NOC) to Neutral from Sell.
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