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Analyst upgrades, downgrades and initiations: BBY, LYG, XOM, BIDU

Analyst upgrades:
  • Barclays upgraded Best Buy (NYSE:BBY) to Overweight from Equal Weight and raised their target to $35 from $28 citing the company's earnings power and free cash flow generation.
  • William Blair upgraded St. Jude Medical (NYSE:STJ) to Outperform from Market Perform following the company's Q4 results on valuation and the company's "steady growth."
  • Wunderlich upgraded Liberty Interactive (NASDAQ:LINTA) to Buy from Hold as they believe debt concerns are overdone. The firm thinks that language in the proxy statement for the Liberty Entertainment hard spin suggests that cash and cash flow from the stub Entertainment tracker could be used to provide inter-company support to Interactive. The firm raised their target to $5 from $4.25.
  • Lloyds TSB Group (NYSE:LYG) was raised to Buy from Hold at Citigroup.
  • BB&T (NYSE:BBT) was removed from Goldman's Conviction Sell List.
  • Patni Computer (NYSE:PTI) was upgraded to Buy from Hold at KeyBanc.

Continue reading Analyst upgrades, downgrades and initiations: BBY, LYG, XOM, BIDU

Analyst upgrades: WMB, KRC and DVAX

MOST NOTEWORTHY: Williams, Kilroy Realty and Dynavax Tech were today's noteworthy upgrades:
  • RBC upgraded shares of Williams (NYSE: WMB) to Outperform from Sector Perform to reflect their expectation for three years of double-digit production growth in the company's E&P business.
  • Kilroy Realty (NYSE: KRC) was upgraded to Outperform from Neutral as they believe the current valuation does not reflect the company's pure asset value.
  • Oppenheimer upgraded shares of Dynavax Tech (NASDAQ: DVAX) to Outperform from Perform as they expect positive phase III results for Heplisav around mid-2008, driving shares higher.
OTHER UPGRADES:

Analyst upgrades: NTRI, UA, CME, AKH and KRC

MOST NOTEWORTHY: NutriSystem, Under Armour, CME Group, Air France ADS and Kilroy Realty were today's noteworthy upgrades:
  • NutriSystem (NASDAQ: NTRI) was upgraded to Strong Buy from Buy at Broadpoint on valuation, as they believe all concerns are overdone.
  • Think Equities upgraded Under Armour (NYSE: UA) to Buy from Accumulate on valuation.
  • Wachovia upgraded CME Group (NYSE: CME) to Overweight from Market weight, as they expect fed income volumes to benefit from a more active Federal Reserve.
  • Goldman added Air France (NYSE: AKH) to its Pan-European Conviction Buy List citing valuation following the recent sell-off.
  • Citigroup upgraded shares of Kilroy Realty (NYSE: KRC) to Buy from Hold on valuation, as they believe concerns are overblown and the company's underleveraged balance sheet can drive growth.
OTHER UPGRADES:

Analyst upgrades 5-30-07: Coca-Cola upgraded to Buy

MOST NOTEWORTHY: Coca-Cola (KO), Fiserv, Inc (FISV) and several real estate companies were today's noteworthy upgrades:
OTHER UPGRADES:
  • RBC Capital upgraded Texas Roadhouse (NASDAQ: TXRH) to Outperform from Sector Perform, citing valuation and improved EPS outlook.
  • Kenexa Corp (NASDAQ: KNXA) was upgraded to Outperform from Neutral at Credit Suisse, citing valuation and reduced risk from the BrassRing acquisition.
  • Goldman Sachs added Foster Wheeler (NASDAQ: FWLT) added to its Conviction Buy List, citing valuation and leverage to energy infrastructure build and power.
  • Goldman also added ProLogis (NYSE: PLD) to its Conviction Buy list, citing upside to FFO guidance, favorable domestic and international demand and above-average development margins.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 5-22-07: BXP, KLAC, MGM and RTN

MOST NOTEWORTHY: MGM Mirage (MGM), KLA-Tencor Corp (KLAC), Raytheon Co (RTN) and four apartment REIT's were today's noteworthy upgrades:
  • Bear Stearns upgraded MGM Mirage (NYSE: MGM) to Outperform from Peer Perform following Kirk Kerkorian's intentions to purchase the Bellagio and City Center and also pursue strategic alternatives for the rest of the company.
  • Matrix raised KLA-Tencor (NASDAQ: KLAC) to Buy from Hold, believing that growing demand for memory chips used in computers is leading to increasing revenues and profits.
  • Cowen upgrade shares of Raytheon (NYSE: RTN) to Outperform from Neutral based on cash deployment potential from the RAC sale, pension EPS tailwind, foreign sales cycle, and strong execution.
OTHER UPGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 12, 2009: 07:16 AM

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