Analyst upgrades, downgrades and initiations: ANF, BIDU, DE, FCX, HBC, SWY, USB ...

Posted Nov 30th 2009 11:20AM by Eric BuscemiEric Buscemi RSS Feed
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Abercrombie and Fitch (ANF), Analyst Initiations, Deere and Co (DE)

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Analyst upgrades:

  • FBR upgraded Abercrombie & Fitch (ANF) to reflect strong channel checks over the Black Friday weekend. The firm raised its target on shares to $46 from $39.
  • Morgan Stanley upgraded Safeway (SWY), citing improvements in pricing.
  • Baird upgraded US Bancorp (USB) based on valuation. The firm raised its target price to $29 from $25.
  • HSBC Holdings (HBC) was upgraded to buy from neutral at BofA/Merrill.
  • Genzyme (GENZ) was upgraded to buy from hold at Citigroup.
  • Deere (DE) was upgraded to outperform from market perform at Wells Fargo.

Analyst downgrades:

  • Bernstein downgraded Baidu (BIDU) based on valuation, with a target raised to $460 from $420.
  • Morgan Stanley downgraded SuperValu (SVU), citing risks around the core grocery business. The firm has a target of $13 on shares.
  • Goldman removed Freeport McMoRan (FCX) from its conviction buy list, citing recent share strength. The firm's price target remains $95.
  • Bancolombia SA (CIB) was downgraded to sell from neutral at Goldman.
  • Daimler AG (DAI) was downgraded to buy from conviction buy at Goldman.
  • Franklin Resources (BEN) was downgraded to neutral from buy at Pali Capital.

Analyst initiations:

  • Seattle Genetics (SGEN) was initiated with a neutral at Goldman. The firm has a target of $11.50 on the shares.
  • AGA Medical (AGAM) was initiated with a buy at Deutsche Bank with a target of $16.
  • Boise (BZ) was initiated with a buy at Sterne Agee. Sterne Agee believes Boise is well-positioned to benefit from a continued recovery in the paper markets.The firm has a target of $7 on shares.
  • HSBC Holdings (HBC) was initiated with an outperform at FBR Capital.
  • Liberty Global (LBTYA) was initiated with a neutral at JPMorgan with a target of $23.50.
  • Boyd Gaming (BYD) was initiated with a fair value at CRT Capital.

Tags: AGAM, analyst upgrades, ANF, BEN, BIDU, BYD, BZ, CIB, DAI, DE, Deere, downgrades, FCX, GENZ, HBC, initiations, inthenews, LBTYA, SGEN, SVU, SWY, USB

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Last updated: February 10, 2010: 07:42 AM

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