Analyst upgrades:- Morgan Stanley said Bank of America's (NYSE: BAC) capital needs are largely known and shares are trading "cheaply despite reduced downside risk." The firm upgraded shares to Overweight from Underweight and raised the price target to $25 from $16. Shares were also upgraded to Outperform from Neutral at Baird citing manageable capital needs and attractive risk/reward.
- Keefe Bruyette upgraded Fifth Third Bancorp (NASDAQ: FITB) to Outperform from Market Perform on valuation as it views the stock as inexpensive despite the recent rally. The firm has an $8 target on the stock.
- Banc of America/Merrill upgraded Ericsson (NASDAQ: ERIC) to Buy from Neutral as it believes fewer hedging losses could bring upside over the next few quarters.
- Rio Tinto (NYSE: RTP) was raised to Overweight from Neutral at Barclays.
- EnerNOC (NASDAQ: ENOC) was lifted to Buy from Neutral at Janney Montgomery.
- Westpac Banking (NYSE: WBK) was upgraded to Neutral from Underperform at Credit Suisse.
Analyst downgrades:
- Jefferies downgraded Symantec (NASDAQ: SYMC) to Hold from Buy on growth concerns after the company's March quarter revenue and June quarter guidance missed expectations. The firm lowered its target price to $17 from $18. Shares were also downgraded to Equal Weight from Overweight at Morgan Stanley, as the firm views Symantec upside as limited at current levels.
- Keefe Bruyette downgraded Morgan Stanley (NYSE: MS) to Market Perform from outperform on valuation as it no longer views shares as oversold. The firm has a $28 target price on the stock.
- Deutsche Bank downgraded American Superconductor (NASDAQ: AMSC) to Hold from Buy on valuation and keeps a $24 target on the stock.
- NiSource (NYSE: NI) was downgraded to Neutral from Buy at Banc of America/Merrill.
- Lloyds Banking (NYSE: LYG) was cut to Sell from Hold at Collins Stewart.
- AT&T (NYSE: T) and Verizon (NYSE: VZ) were lowered to Neutral from Overweight at JP Morgan.
- Soleil initiated BioMarin (NASDAQ: BMRN) with a Buy rating and $18 target. The firm believes current levels provide an attractive entry point given BioMarin's "attractive" long-term potential in rare diseases.
- Soleil also initiated Amylin Pharma (NASDAQ: AMLN) with a Hold rating and $12 target. The firm has concerns about the regulatory risk associated with the final approval of Byetta once-weekly for Type 2 diabetes.
- New York Community Bancorp (NYSE: NYB) was initiated with a Sell rating at Maxim.
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Reader Comments (Page 1 of 1)
5-20-2009 @ 3:30PM
Jonathan said...
Upgrades and then a huge stock offering below market price ... this stock still has legs!