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Analyst upgrades: VQ, NFX and RF

MOST NOTEWORTHY: Venoco, Newfield Exploration and Regions Financial were today's noteworthy upgrades:
  • Jefferies upgraded shares of Venoco (NYSE:VQ) to Buy from Hold on increased confidence in the company's 5%-10% 2008 production growth target.
  • Newfield Exploration (NYSE:NFX) was upgraded to Outperform from Market Perform at Friedman Billings. The firm said there has been significant progress in the economics of NFX's Woodford play.
  • Citigroup upgraded Regions Financial (NYSE:RF) to Hold from Sell on valuation, as they their concerns are now priced into shares.
OTHER UPGRADES:

Analyst upgrades: Vodafone, AstraZeneca and Forest Oil

MOST NOTEWORTHY: Vodafone, AstraZeneca and Forest Oil were today's noteworthy upgrades:

  • Bear Stearns upgraded shares of Vodafone (NYSE: VOD) to Outperform from Peer Perform on valuation, as they believe the stock trades at a discount to peers.
  • AstraZeneca (NYSE: AZN) was raised to Buy from Hold at Citigroup to reflect the potential for higher sales of the company's Crestor cholesterol pill.
  • Jefferies upgraded shares of Forest Oil (NYSE: FST) to Buy from Hold and raised their target to $63 from $50 following the company's "bullish" analyst conference.

OTHER UPGRADES:

  • Pharmasset (NASDAQ: VRUS) was raised to Buy from Neutral at UBS.
  • Deutsche Bank upgraded China Mobile (NYSE: CHL) to Buy from Hold.
  • Morgan Keegan upgraded RadNet (NASDAQ: RDNT) to Outperform from Market Perform.

Analyst downgrades: MNTA, IPG, LIOX, PTR and CGPI

MOST NOTEWORTHY: Momenta Pharmaceuticals, Interpublic Group, Lionbridge, PetroChina and Collagenex were today's noteworthy downgrades:
OTHER DOWNGRADES:

Analyst upgrades 5-08-07: AA, LVS, MRVL, SLE and UA

MOST NOTEWORTHY: Alcoa Inc (AA), Marvell Technology Group Ltd (MRVL) Under Armour, Inc (UA), Las Vegas Sands Corp (LVS) and QLogic Corp (QLGC) topped today's list of noteworthy upgrades:
  • RBC Capital upgraded Alcoa Inc (NYSE: AA) to Sector Perform from Underperform following the bid by Alcan Inc (NYSE: AL).
  • Marvell Technology Group Ltd (NASDAQ MRVL) was upgraded to buy from Neutral with a $23 target at Oppenheimer based on valuation and the improvements made to HDD PC/Desktop.
  • Morgan Stanley raised shares of Under Armor Inc (NYSE: UA) to Equal Weight from Underweight with a $47 target, based on valuation and long-term growth.
  • Stifel upgraded shares of Las Vegas Sands (NYSE: LVS) to Buy from Hold with a $100 target citing valuation.
  • Morgan Keegan upgraded shares of QLogic Corp (NASDAQ: QLGC) to Outperform from Market Perform on valuation and expectations for strong sequential growth to resume in 2H07.
OTHER UPGRADES:
  • Friedman Billings upgraded shares of Sonic Corp (NASDAQ: SONC) to Outperform from Peer Perform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 3-06-07: eBay, Amazon.com & YRC Worldwide initiated today

MOST NOTEWORTHY: YRC Worldwide Inc (YRCW), Baidu.com, Inc (BIDU), an several e-commerce names were today's more notable initiations:
  • Prudential started YRC Worldwide Inc (NASDAQ: YRCW) with an Underweight rating and $41 target. The firm said recent organizational changes could be a distraction in what it expects to be a challenging first-half of 2007.
  • Susquehanna views Baidu.com Inc (NASDAQ: BIDU) as a strategic holding in its China portfolio and expects the company's massive brand value to drive continuous growth; shares were initiated at Susquehanna with a Positive rating.
  • Oppenheimer initiated three e-commerce names today:
    • eBay Inc (NASDAQ: EBAY) was initiated with a Buy rating and $38 target
    • Overstock.com, Inc (NASDAQ: OSTK) and Amazon.com, Inc (NASDAQ: AMZN) were initiated with Neutral ratings.
OTHER INITIATIONS:
  • In addition to YRC Worldwide, Prudential initiated several companies in the transportation sector:
    • Con-Way Inc (NYSE: CNW) was started with an Underweight rating and $47 target
    • Canadian Pacific Railway (NYSE: CP) and Norfolk Southern (NYSE: NSC) were initiated with Overweight ratings
    • Canadian National Railway (NYSE: CNI) was initiated with a Neutral rating and $47 target.
  • Jefferies initiated Forest Oil Corp (NYSE: FST) with a Buy rating and $42 target.
  • Citigroup believes aQuantive, Inc (NASDAQ: AQNT) will be one of the key beneficiaries of the strong secular growth in online advertising and they note that shares are trading in the lower half of its 52-week range; shares were initiated with a Buy rating and $33 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 11, 2012: 10:21 AM

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