.gif){kind=logo}
Analyst upgrades:- Keefe Bruyette upgraded AmeriCredit (NYSE: ACF) to Market Perform from Underperform as it believes the company's warehouse facility amendments substantially reduce the risk of bankruptcy in the near term. The firm has a $6 target on the stock.
- Thomas Weisel upgraded Suntech (NYSE: STP) to Market Weight from Underweight on valuation following the recent weakness. The firm has a $6 target on the stock.
- Banc of America/Merrill upgraded Kohl's (NYSE: KSS) to Buy from Neutral on valuation following the recent weakness and believes the company's guidance is achievable.
- Dr. Pepper Snapple (NYSE: DPS) was upgraded to Buy from Neutral at Goldman.
- Digital River (NYSE: DRIV) was raised to Buy from Hold at Deutsche Bank.
- Clorox (NYSE: CLX) was upgraded at Barclays to Equal Weight from Underweight.
Analyst downgrades:
- Citigroup downgraded shares of Wal-Mart (NYSE: WMT) to Hold from Buy as they believe upside in the stock will be limited while the House and Senate vote on the union bill. Citigroup believes Wal-Mart would be the first target for unions if the bills passes, noting the bill would limit the ability of employers to caution employees against unionization and impose several restrictions on the bargaining process. The firm lowered its target price on shares to $48 from $53.
- Pali downgraded shares of Disney (NYSE: DIS) to Sell from Neutral as it believes the company's theme park business continues to deteriorate due to economic environment, making its "premium valuation" harder to sustain. Pali set a $12.50 price target on DIS shares.
- Baird downgraded Genentech (NYSE: DNA) to Neutral from Outperform on valuation as it sees limited upside from current levels. The firm has a $95 target on the stock.
- Apogee Enterprises (NASDAQ: APOG) was cut to Sell from Neutral at Piper Jaffray.
- PG&E (NYSE: PCG) was lowered to Neutral from Outperform at Credit Suisse.
- Omnicom Group (NYSE: OMC) was downgraded at Deutsche Bank to Sell from Hold.
- Oppenheimer believes The Travelers Companies (NYSE: TRV) is the best name to own in the current environment given the company's economies of scale and solid balance sheet. It initiated shares with an Outperform rating and $52 target.
- Kaufman Bros. started Yahoo (NASDAQ: YHOO) with a Hold rating and $14 target. The firm believes near-term pricing trends put estimates at risk and that Yahoo's new CEO needs time to turn things around.
- Merriman assumed Carmike Cinemas (NASDAQ: CKEC) with a Buy rating and believes the company has established itself as a leader in the digital/3-D segment, giving it a strong competitive advantage. The firm sees potential upside to the $4-$7 share range.
- Echelon (NASDAQ: ELON) was initiated at Cantor with a Buy rating and $9.50 target.
- StellarOne (NASDAQ: STEL) was assumed with a Market Perform rating and $10 target at Keefe Bruyette.
Nuclear power is on the comeback trail
Apple backs AT&T in continuing spat with Verizon
Closing Bell: The recession is still over, still... do you feel it?
