WWW - Posts tagged DoverDowns at BloggingStocks

DoverDowns posts

Analyst upgrades: SUN, VLO, UBS, LEH and SUPX

MOST NOTEWORTHY: Sunoco, Valero Energy, UBS AG, Lehman Brothers and Supertex were today's noteworthy upgrades:

Citigroup upgraded both Sunoco (NYSE: SUN) and Valero (NYSE: VLO) to Buy from Hold, as they believe both companies will benefit from the collapse of ethanol prices since refiners are mainly supplied under term contracts struck above current levels.
Merrill upgraded shares of UBS (NYSE: UBS) to Buy from Neutral to reflect the company's lack of exposure to fixed income.
Credit Suisse upgraded shares of Lehman Brothers (NYSE: LEH) to Outperform from Neutral citing improved performance prospects.
Supertex (NASDAQ: SUPX) was raised to Buy from Neutral at Oppenheimer. The firm expects a rebound in all business segments, Medical is entering a seasonally strong September quarter, and notes Motorola (NYSE: MOT) shipments are growing.

OTHER UPGRADES:

CIBC upgraded Novatel Wireless (NASDAQ: NVTL) to Sector Outperformer from Sector Performer.
Suntrust upgraded American Reprographics (NYSE: ARP) to Buy from Neutral.
Taiwan Semiconductor (NYSE: TSM) was upgraded to Overweight from Neutral at JP Morgan.
Jefferies upgraded Dover Downs (NYSE: DDE) to Buy from Hold.

MOST NOTEWORTHY: Eaton Vance (EV), Dover Downs (DDE), Meruelo Maddux (MMPI) and Fifth Third Bancorp (FITB) were today's noteworthy downgrades:

Merrill downgraded shares of Eaton Vance (NYSE: EV) to Sell from Neutral on expectations net flows will slow and pressure shares due to bank loan outflows and closed-end fund sales.

Keybanc downgraded Dover Downs (NYSE: DDE) to Hold from Buy due to expectations of significant movement in the Maryland state legislature regarding the issue of slot machine legalization, which could pressure shares.

Meruelo Maddux (NASDAQ: MMPI) was cut to Sell from Neutral at UBS based on tightening credit markets.

Friedman Billings downgraded shares of Fifth Third (NASDAQ: FITB) to Underperform from Market Perform on this morning's acquisition of First Charter Corp...

OTHER DOWNGRADES:

Alliant Techsys (NASDAQ: ATK) was cut to Market Weight from Overweight at Thomas Weisel.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

MOST NOTEWORTHY: Level 3 Communications Inc (LVLT) and General Motors Corp (GM) were today's notable upgrades:

Deutsche Bank raised Level 3 Communications Inc (NASDAQ: LVLT) to Hold from Sell with a $5.40 target based on the belief the company will meet 2007 expectations.

General Motors Corp (NYSE: GM) was upgraded at Merrill Lynch to Buy from Sell based on increased confidence the company will leverage its liquidity and legacy assets, specifically its pension, to drive positive changes.

OTHER UPGRADES:

MasterCard inc (NYSE: MA) was upgraded to Overweight from Neutral at JP Morgan on valuation.

Following the company's strong Q4 report, Piper Jaffray upgraded shares of Shanda Interactive Entertainment Ltd ADS (NASDAQ: SNDA) to Outperform from Market Perform with a $29 target, citing improved fundamentals and increased confidence in the come-stay-play model, among other reasons.

Dover Downs Gaming & Entertainment (NYSE: DDE) moved to Hold from Sell at Stifel Nicolaus, citing valuation.

Prudential raised HealthNet Inc (NYSE: HNT) to Neutral from Underweight, with a $52 target.

3M Company (NYSE: MMM) was raised to Buy from Hold with an $86 target at Soleil Securities following last nights $7B buyback announcement, which the firm believes will act as a positive catalyst.

Bear Stearns upgraded Applebee's Int'l Inc (NASDAQ: APPB) to Peer Perform from Underperform following the company's announcement that it hired a financial adviser to explore strategic alternatives.