• Citigroup upgraded Tyco (NYSE: TYC) shares to Buy from Hold on valuation as they believe the recent weakness has created an attractive entry point. The firm lowered its target price to $25 from $26.
  
• Deutsche Bank raised SAP (NYSE: SAP) to Buy from Hold on valuation as it finds the risk/reward attractive at current levels.
  
• Oppenheimer upgraded Onlin Corp (NYSE: OLN) to Outperform from Perform on valuation as it sees strong support at $10 and potential upside to $20. The firm has a $20 target on the stock.
• JP Morgan (NYSE: JPM) and Blackstone (NYSE: BX) were upgraded to Outperform from Market Perform at Keefe Bruyette.
  
• Adobe (NASDAQ: ADBE) was raised to Neutral from Sell at UBS.
  
• Goldman added AT&T (NYSE: T) to the Conviction Buy List.

Continue reading Analyst upgrades, downgrades and initiations: TYC, STT, PNFP ...

Analyst upgrades, downgrades and initiations: TYC, STT, PNFP ... originally appeared on BloggingStocks on Mon, 02 Mar 2009 11:40:00 EST. Please see our terms for use of feeds.

This article is part of a 20 article special report on "Metals, miners and money".

"Although gold is probably due to retrace some, bullion still looks very strong," says Jack Adamo's Insiders Plus. Here, he looks at Compania de Minas Buenaventura (NYSE: BVN).

"Open interest in gold futures, which measures the current size of bets made by futures traders, is 34% lower than it was in May of 2006, which was the last time we touched a speculative price peak. That suggests that much of this crowd is still on the sidelines. When they come rushing back in, the stocks can move up very fast."

The advisor continues, "The cheapest by far of all our gold stocks is still Compania de Minas Buenaventura. Even being up 53% year-to-date, it's selling at 15-times this year's expected earnings, with year end only three months away. It's unlikely earnings will miss expectations this late in the year.

"Of course, expectations a year out are much less reliable, but if current analysts' estimates are close, the stock is a screaming bargain. With '08 estimates of $3.59 a share, the stock is selling at 11-times next year's earnings, and has an earnings growth rate of 37%. Price/earnings-to-growth ratios like that make me salivate.

"If you've not filled your gold positions, here's your chance. I don't expect another opportunity for at least four months. Gold is usually strong going into the holiday season, and sometimes all the way into January. Buy Buenaventura."

Top resource ideas: Bet on Buenaventura (BVN) originally appeared on BloggingStocks on Sat, 10 Nov 2007 10:10:00 EST. Please see our terms for use of feeds.

Newmont Mining (NYSE: NEM) call volume & implied volatility elevated as gold above $704. NEM, the world's largest non-hedged gold producer, is recently trading up $1.95 to $44.25. Gold is up 1.95% to $704.20 according to Bloomberg. NEM call option volume of 71,210 contracts compares to put volume of 15,428 contracts according to Track Data. NEM September option implied volatility of 36 is above its 26-week average of 29 according to Track Data, suggesting larger price risks.

Barrick Gold (NYSE:ABX) calls active; volatility elevated on hedging as gold above $700. ABX a gold mining company is recently up $2.58 to $35.98. ABX has a market cap of $31 billion. ABX call option volume of 37,967 contracts compares to put volume of 11,279 contracts according to Track Data. ABX September option implied volatility of 38 is above its 26-week average of 29 according to Track Data, suggesting larger risk.

Buenaventura (NYSE::BVN) implied volatility elevated; BVN operates three gold & silver mines in Peru and also has controlling interests in four mining companies as well as a majority interest in several other mining companies in Peru. BVN is recently up $3.83 to $42.42. BVN September option implied volatility of 48 is above its 26-week average of 37 according to Track Data, suggesting larger risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Option update: Gold options active as hedgers adjust to $700 gold originally appeared on BloggingStocks on Thu, 06 Sep 2007 16:20:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Morgan Keegan upgraded Natural Gas Services Group Inc (AMEX: NGS), Basic Energy Services Inc (NYSE: BAS) and Complete Production Services Inc (NYSE: CPX) to Outperform from Market Perform and Patterson-UTI Energy Inc (NASDAQ: PTEN) to Market Perform from Underperform, as the firm has a bullish outlook for drilling activity in the back half of 2007 and into 2008.
• JP Morgan upgraded shares of both Compania de Minas Buenaventu (NYSE: BVN) and Goldcorp Inc (NYSE: GG) to Overweight from Neutral on valuation.
• Moody's was upgraded to Overweight from Equal Weight at Morgan Stanley, citing increased confidence in revenue outlook and growth drivers.

• Inverness Medical Innovations Inc (AMEX: IMA) was upgraded to Buy from Hold at Stifel Nicolaus.
• Credit Suisse upgraded shares of Johnson Controls Inc (NYSE: JCI) to Outperform from Neutral, citing growth outlook in the company's building efficiency business.
• Allianz SE (NYSE: AZ) was upgraded to Buy from Add at WestLB on valuation and the company's strong Q1 results.

Analyst upgrades 6-06-07: MCO, NGS; BAS and CPX originally appeared on BloggingStocks on Wed, 06 Jun 2007 10:05:00 EST. Please see our terms for use of feeds.

With a penchant for following insider buying, Jack Adamo takes a fundamental long-term approach to investing. In his Insider Plus newsletter, he has been a fan of mining companies, and sees recent price weakness as a reason to add to positions in Meridian Gold (NYSE:MDG) and Compania de Minas Buenaventura (NYSE:BVN).

His proprietary indicators, which follow patterns of insider buying and selling, had been forecasting a setback for metals; as such, he did not view the recent pullback as a surprise. And with the "speculative fever" in the gold sector having cooled, he is now more comfortable recommending mining positions.

One favorite is Meridian Gold, which he notes pulled back nearly 16% on what he cites as no news except a broker downgrade from Market Outperform to Market Perform. He notes, "This is hardly cause for panic."

"Meridian is back within our buy range now," he says. "If you don't own the stock, I'd ease in by buying a half position at this time, and waiting to see what the market does. Still, it's a good long-term buy at this price, with the stock down 33% from its 52-week high."

Continue reading Adamo: Mining for value

Adamo: Mining for value originally appeared on BloggingStocks on Thu, 22 Mar 2007 11:15:00 EST. Please see our terms for use of feeds.