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Analyst upgrades, downgrades and initiations: BP, CMCSA, GLW, MAR, RIMM, TIF, TJX ...

Analyst upgrades:

  • UBS upgraded Corning (NYSE: GLW) to Buy from Neutral and raised its target to $19 from $18.50, citing the improved LCD supply-demand outlook and improved sell-through ahead of the holiday season in China.
  • Credit Suisse upgraded Newfield Exploration (NYSE: NFX) to Outperform from Neutral and raised its target to $48 from $44 citing valuation and improved asset quality.
  • Stifel upgraded Newfield Exploration and Ultra Petroleum (NYSE: UPL) shares to Buy from Hold based on strong fundamentals and a long-term positive view for the E&P sector. The firm has a $50 target on Newfield and a $58 target on Ultra Petroleum.
  • TJX Companies (NYSE: TJX) was upgraded to Conviction Buy from Buy at Goldman.
  • General Mills (NYSE: GIS) was upgraded to Overweight from Equal Weight at Morgan Stanley.
  • Coca-Cola Femsa (NYSE: KOF) was upgraded to Buy from Neutral at BofA/Merrill.

Continue reading Analyst upgrades, downgrades and initiations: BP, CMCSA, GLW, MAR, RIMM, TIF, TJX ...

Analyst upgrades, downgrades and initiations: GT, BCS, PAS, UPS, HSBC ...

Analyst upgrades:
  • Stephens upgraded Arris (NASDAQ: ARRS) to Overweight from Equal Weight following the company's Q1 results and raised its target on shares to $15 from $8.
  • Goldman upgraded Goodyear Tire (NYSE: GT) to Neutral from Sell and raised their target to $11 from $7 citing better earnings prospects and stabilizing volumes.
  • KeyBanc upgraded Parkway Properties (NYSE: PKY) to Hold from Underweight citing the company's improved balance sheet and valuation.
  • Digital River (NASDAQ: DRIV) was raised to Perform from Underperform at Oppenheimer.
  • Barclays (NYSE: BCS) was raised to Buy from Sell at Royal Bank of Scotland.
  • First Potomac (NYSE: FPO) was upgraded at RBC Capital to Sector Perform from Underperform.

Continue reading Analyst upgrades, downgrades and initiations: GT, BCS, PAS, UPS, HSBC ...

Analyst upgrades, downgrades and initiations: KFT, SYMC, CAR, GLAD, HANS ...

Analyst upgrades:
  • Merrill upgraded Kraft Foods (NYSE: KFT) to Buy from Neutral citing progress in the company's turnaround plan, execution, and 2009 earnings growth.
  • Thomas Weisel raised Express Scripts (NASDAQ: ESRX) to Overweight from Market Weight and believes the company's core business remains strong and that valuation is attractive.
  • Friedman Billings upgraded shares of Symantec (NASDAQ: SYMC) to Outperform from Market Perform on valuation after checks indicated the company should meet Q2 expectations.
  • NeuStar (NSR) was upgraded to Outperform from Neutral at Baird.
  • UBS raised Advance Auto Parts (NYSE: AAP) to Neutral from Sell.
  • Goldman upgraded Royal Dutch Shell (NYSE: RDS.A) to Buy from Neutral.
Analyst downgrades:
  • Friedman Billings downgraded shares of Zions Bancorp (NASDAQ: ZION) to Market Perform from Outperform and lowered its target to $33 from $43 following the company's Q3 results, as they believe near-term credit trends and concerns surrounding its securities portfolio will limit upside. Shares were also downgraded at JP Morgan to Neutral from Overweight due to deteriorating credit trends.
  • Banc of America cut Monster (NASDAQ: MNST) to Neutral from Buy to reflect a lack of margin stability and their belief consensus estimates remain too high.
  • Barclays downgraded Avis Budget Group (NYSE: CAR) to Equal Weight from Overweight citing the global economic slowdown and refinancing risk.
  • Johnson Controls (NYSE: JCI), Luxottica (NYSE: LUX) and ArvinMeritor (NYSE: ARM) were cut to Neutral from Buy at Goldman.
  • Luxottica was also downgraded at HSBC to Neutral from Overweight.
  • JP Morgan cut AuthenTec (NASDAQ: AUTH) to Underweight from Neutral.
Analyst initiations:
  • Janney Montgomery believes Gladstone Capital's (NASDAQ: GLAD) management team and lower portfolio investment risk profile warrant a premium valuation. The firm started shares with a Buy rating and $13 target.
  • CommVault (NASDAQ: CVLT) was initiated with a Buy rating and $14 target at Cantor, as the firm finds the stock attractively valued given its secular growth rate potential.
  • KeyBanc is positive on Papa John's (NASDAQ: PZZA) management team, growth potential, cost initiatives, and differentiation. Shares were assumed with a Buy rating and $30 target.
  • Arris (NASDAQ: ARRS) was initiated at Jefferies with a Hold rating and $7 target.
  • Rigel Pharmaceuticals (NASDAQ: RIGL) was initiated at Banc of America with a Neutral rating and $21 target.
  • Morgan Stanley started Hansen Natural (NASDAQ: HANS) with an Equal Weight rating.

Analyst initiations: CLF, SYMX and BKHM

MOST NOTEWORTHY: Cleveland Cliffs, Synthesis Energy and Bookham Tech were today's noteworthy initiations:

  • KeyBanc believes the pullback in Cleveland Cliffs (NYSE: CLF) shares is an attractive entry point given acceleration of North American Iron Ore pellet contract pricing and increased pellet production into 2009. Shares were assumed with a Buy rating and $180 target.
  • Stanford believes the Synthesis Energy's (NASDAQ: SYMX) U-GAS technology offers several advantages, including the ability to use waste/low grade coal and operational cost savings and intitiated shares with a Buy rating and $12 target.
  • Morgan Keegan started Bookham Tech (NASDAQ: BKHM) with an Outperform rating and said the company continues to benefit from a expanding customer base, timing of new product introductions, and new products.

OTHER INITIATIONS:

Pre-market movers (WB) (DRIV)

SGX Pharmaceuticals (NASDAQ:SGXP) is up more than 100% on a buyout from Eli Lilly (NYSE:LLY).

Wachovia (NYSE:WB) is up about 4% on a brokerage upgrade.

Arris (NASDAQ:ARRS) is down over 15% after cutting its outlook.

Digital River (NASDAQ:DRIV) is off 4% on a brokerage downgrade.

Stocks may trade differently in the pre-market than they do in the regular session.

Douglas A. McIntyre is an editor at 247wallst.com.

Analyst upgrades: Micron, China Sunergy, Medtronic

MOST NOTEWORTHY: Micron, China Sunergy and Medtronic were today's noteworthy upgrades:

  • Deutsche Bank upgraded shares of Micron (NYSE: MU) to Buy from Hold as they believe improved pricing and the company's cost reductions should drive a strong margin recovery. The firm raised MU's target to $11 from $7.
  • Jefferies raised China Sunergy (NASDAQ: CSUN) to Hold from Underperform following the company's Q1 beat to reflect its improved outlook for the production of higher efficiency cells and better controls over cash flow measures.
  • Goldman raised Medtronic (NYSE: MDT) to Buy from Neutral based on potential earnings upside from strong market share and broad distribution.

OTHER UPGRADES:

Pre-market movers (PCLN) (KFT) (ARRS) (UBS)

Priceline (NASDAQ:PCLN) is up 11% on a strong earnings report.

Kraft (NYSE:KFT) is up almost 4% on news that Warren Buffett has taken a stake in the company.

Arris Group (NASDAQ:ARRS) is off 25% on weak quarterly numbers.

UBS (NYSE:UBS) is down 4% on concerns about more large write-downs in 2008.

Stocks may trade differently in the pre-market than they do in the regular session.

Douglas A. McIntyre is an editor at 247wallst.com.

Analyst upgrades: NOVL, CNW, FLML, TM

MOST NOTEWORTHY: Novell, Con-Way and Flamel Technologies were today's noteworthy upgrades:
  • Jefferies named Novell (NASDAQ: NOVL) its Tuesday Value Pick and upgraded shares to Buy from Hold based on expectation for revenue stabilization and gradually improving margins throughout 2008. They note the company has $3.64 in cash per share.
  • JP Morgan upgraded Con-Way (NYSE: CNW) to Overweight from Neutral, citing strong execution following the company's Q4 report.
  • Flamel Tech (NASDAQ: FLML) was raised to Buy from Neutral at Merriman, as they believe low expectations and the company's robust pipeline create upside the potential for upside in 2008.
OTHER UPGRADES:
  • Toyota (NYSE: TM) was upgraded to Neutral from Underweight at HSBC.
  • UBS upgraded Arris (NASDAQ: ARRS) to Buy from Neutral.
  • BNP Paribas raised Siliconware Precision (NASDAQ: SPIL) to Buy from Hold.

Analyst upgrades: LNCR, GTIV, FVE, ARRS and X

MOST NOTEWORTHY: Lincare Holdings, Gentiva Health, Five Star Quality Care, Arris and U.S. Steel Group were today's noteworthy upgrades:
  • Jefferies upgraded shares of Lincare Holdings (NASDAQ: LNCR) to Buy from Hold on valuation as they now believe the likelihood that Congress could severely cut Medicare oxygen reimbursement this year is priced into shares.
  • Jefferies also upgraded Gentiva Health (NASDAQ: GTIV) to Buy from Hold on valuation, as they believe the recent sell-off is overdone.
  • RBC Capital raised Five Star Quality Care (AMEX: FVE) to Outperform from Sector Perform, as they believe the company's Q3 report could be better than expected and that census and outlook are improving.
  • CIBC upgraded shares of Arris Group (NASDAQ: ARRS) to Sector Outperformer from Sector Performer on valuation as they believe the weakness in the stock is overdone.
  • Deutsche Bank upgraded shares of U.S. Steel (NYSE: X) to Buy from Hold, as they expect the company to be a major beneficiary of rising raw material costs. Further, Deutsche thinks Lone Star and Stelco will be catalysts for earnings growth in 2008.
OTHER UPGRADES:

Analyst downgrades 7-05-07: ACH, ARRS, GM and HLT

MOST NOTEWORTHY: General Motors (GM), Aluminum Corp of China (ACH), Greenbrier Cos (GBX) and Monsanto (MON) were today's noteworthy downgrades:
  • Bear Stearns cut General Motors (NYSE: GM) to Peer Perform from Outperform based on valuation and growing fundamental headwinds.
  • HSBC downgraded Aluminum Corp of China (NYSE: ACH) to Underweight from Neutral as they believe prices of lightweight metal have peaked.
  • Greenbrier Cos (NYSE: GBX) was cut at Bear Stearns to Peer Perform from Outperform on valuation.
  • Matrix USA downgraded Monsanto (NYSE: MON) to Buy from Strong Buy on valuation...
OTHER DOWNGRADES:
  • Sandler cut Western Alliance Bancorporation (NYSE: WAL) to Hold from Buy.
  • AG Edwards downgraded Hilton Hotels (NYSE: HLT) to Sell from Buy. Gabelli cut Hilton Hotels to Hold from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 5-21-07: ARRS, CWTR, PUB and SIRF

MOST NOTEWORTHY: ColdWater Creek Inc (CWTR), Celadon Group, Inc (CLDN), Berry Petroleum Co (BRY), SiRF Technology Holdings Inc (SIRF) were today's noteworthy initiations:
  • Brean Murray started shares of Coldwater Creek (NASDAQ: CWTR) with a Buy rating and $25 target, expecting second-half upside from new merchandise this year.
  • Keybanc is positive on Celadon's (NASDAQ: CLDN) disciplined approach to strategic acquisitions and leverage in its operating model, starting shares with a Buy rating and $20 target.
  • CRT Capital believes Berry Petroleum (NYSE: BRY) has the ability to continue to deliver double digit percentage production/reserves growth and started shares with a Buy rating and $40 target.
  • American Technology believes SiRF Technology Holdings (NASDAQ: SIRF) will continue to be a market leader in GPS chipsets and finds the company's wireless business undervalued, starting shares with a Buy rating and $26 target...
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 5-02-07: CMG, MRK, NEM, Q and SIRI

MOST NOTEWORTHY: Newmont Mining Corp (NEM), Qwest Communications International Inc (Q), Sirius Satellite Radio Inc (SIRI), Chipotle Mexican Grill, Inc (CMG) and American Eagle Outfitters (AEO) were today's noteworthy upgrades:
  • Prudential upgraded shares of Newmont Mining Corp (NYSE: NEM) to Neutral from Underweight citing valuation, higher gold and copper prices and specific mine factors that should lead to an operational turnaround.
  • Credit Suisse raised shares of Qwest Communications International Inc (NYSE: Q) to Neutral from Underperform as the firm believes management is less likely to engage in a fiber video build and cites the increase in the company's NOL carry-forwards.
  • Raymond James upgraded Chipotle Mexican Grill (NYSE: CMG) to Outperform from Market Perform. Morgan Keegan also raised shares to Outperform from Market Perform, citing better-than-projected operating fundamentals and growth prospects.
OTHER UPGRADES:
  • Buffalo Wild Winds (NASDAQ: BWLD) was upgraded to Outperform from Market Perform at Morgan Keegan.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-17.2410,433.71
NASDAQ-6.832,169.18
S&P 500-0.591,105.65

Last updated: November 25, 2009: 07:07 AM

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