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Analyst upgrades, downgrades and initiations: AKAM, PFE, NYX, SCHW, SNDK

Analyst upgrades:
  • Merriman upgraded shares of Akamai (NASDAQ:AKAM) to Buy from Neutral as they believe consensus expectations are now realistic and already reflect macro headwinds. Merriman also thinks the company's cost reductions could generate upside to EPS estimates.
  • JP Morgan upgraded Novo Nordisk (NYSE:NVO) to Overweight from Neutral on expectations the company's diabetes drug will gain U.S. approval.
  • Credit Suisse upgraded Pfizer (NYSE:PFE) to Outperform from Neutral and raised their target to $20 from $19 citing the merits of the Wyeth (WYE) deal and valuation.
  • Quality Systems (NASDAQ:QSII) was upgraded to Buy from Neutral at Piper Jaffray.
  • Parexel (NASDAQ:PRXL) was raised to Outperform from Market Perform at Wachovia.
  • Ferro (NYSE:FOE) was upgraded at KeyBanc to Hold from Underweight.

Continue reading Analyst upgrades, downgrades and initiations: AKAM, PFE, NYX, SCHW, SNDK

Analyst upgrades: NSC, OMX and PQ

MOST NOTEWORTHY: Norfolk Southern, OfficeMax and PetroQuest Energy were today's noteworthy upgrades:
  • JP Morgan upgraded Norfolk Southern (NYSE:NSC) to Overweight from Neutral based on leverage to export coal and the tighter truckload market.
  • Credit Suisse upgraded OfficeMax (NYSE:OMX) to Outperform from Neutral citing the company's clean balance sheet, positive cash flow, and limited downside.
  • UBS upgraded PetroQuest Energy (NYSE:PQ) to Buy from Neutral citing valuation and production catalysts. The company's target was raised to $30 from $25.
OTHER UPGRADES:
  • Piper Jaffray (NYSE:PJC) was upgraded to Market Weight from Underweight at Thomas Weisel.
  • Corning(NYSE:GLW) was upgraded at Merrill to Buy from Neutral.
  • HSBC lifted BP Plc (NYSE:BP) to Overweight from Neutral.
  • Calgon Carbon (NYSE:CCC) was raised to Hold from Sell at Morgan Joseph.

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 27, 2009: 05:32 AM

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