.gif){kind=logo}
Analyst upgrades:- UBS upgraded Target (NYSE: TGT) to Buy from Neutral and raised its price target to $52 from $45 citing reduced inventories, some credit stability, and an improved back-to-school period.
- Credit Suisse said concerns regarding Safeway's (NYSE: SWY) price position are overblown and that earnings risk is limited. The firm upgraded shares to Outperform from Neutral and raised the target price to $25 from $22.
- Oppenheimer upgraded Canadian Solar (NASDAQ: CSIQ) to Outperform from Perform as it believes the story is underappreciated following the recent sector rally. The firm has a $14 price target on the stock.
- CME Group (NASDAQ: CME) was upgraded to buy from Neutral at Goldman.
- Freeport McMoRan (NYSE: FCX) was upgraded to Overweight from Neutral at JP Morgan.
- Gilead Sciences (NASDAQ: GILD) was upgraded to Buy from Neutral at FTN Equity.
Analyst downgrades:
- FBR Capital downgraded Hot Topic (NASDAQ: HOTT) to Market Perform from Outperform following the company's "disappointing" Q2 guidance to reflect uncertainty in the music and women's bottoms categories. FBR lowered its target price to $8 from $13.
- Deutsche Bank downgraded Melco Crown (NASDAQ: MPEL) to Hold from Buy on valuation as it believes the City of Dreams opening is largely priced into the stock.
- Morgan Stanley downgraded Vale (NYSE: RIO) to Underweight from Equal Weight but raised their target to $18 from $15 due to valuation and lack of major growth in iron ore until 2011.
- SunTech (NYSE: STP) was cut to Neutral from Buy at Nomura.
- Tellabs (NASDAQ: TLAB) was lowered to Equal Weight from Overweight at Barclays.
- PetSmart (NASDAQ: PETM) was downgraded to Neutral from Buy at Goldman.
- RBC Capital initiated Campbell Soup (NYSE: CPB) with an Underperform rating and $28 target given weak soup trends, low quality earnings, and lack of visibility into emerging market investments.
- Leerink sees limited near-term upside in Covance (NYSE: CVD) shares due to valuation and a lack of visibility. The firm started shares with a Market Perform rating and $38-$40 target range.
- Jefferies initiated hhgregg (NYSE: HGG) with a Buy rating and $20 target. The firm believes improving sentiment around a consumer recovery or better than expected TV sales could drive hhgregg shares higher.
- Perrigo (NASDAQ: PRGO) was initiated with an Outperform rating at William Blair.
- M&T Bank (NYSE: MTB) was initiated with a Neutral rating at Credit Suisse.
- Cigna (NYSE: CI) was initiated with an Overweight rating and $26 target at Morgan Stanley.
Twitter finally reveals revenue ambition, wants to be Google -- but not yet
Google says: Chrome for Christmas
Why is gold marching higher? Ask the central bankers
