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Analyst upgrades, downgrades and initiations: JCP, NVLS, CAG, RJF, PCG, STP, AMZN, MS, MSFT

Analyst upgrades:
  • JP Morgan upgraded J.C. Penney (NYSE: JCP) to Neutral from Underweight based on lower input costs, stabilization in home, lower markdown dollars, and valuation.
  • Oppenheimer upgraded Novellus (NASDAQ: NVLS) to Perform from Underperform as it believes Novellus' market share has stabilized and that the company is a potential acquisition target. The firm raised its price target to $20 from $9.
  • Bernstein upgraded ConAgra (NYSE: CAG) to Market Perform from Underperform citing strength in grains and moderating input costs.
  • ConocoPhillips (NYSE: COP) was raised to Buy from Neutral at Goldman.
  • China Housing (NASDAQ: CHLN) was upgraded to Buy from Hold at Roth Capital.

Continue reading Analyst upgrades, downgrades and initiations: JCP, NVLS, CAG, RJF, PCG, STP, AMZN, MS, MSFT

Analyst calls: AB, WPI, TEVA, LYG, UACL, NTAP, SIMO, BRCM ...

Analyst upgrades:
  • Keefe Bruyette upgraded shares of AllianceBernstein (NYSE: AB) to Outperform from Market Perform as they find AB's risk/reward attractive given its attractive long-term business model. Wachovia upgraded Watson Pharma (NYSE: WPI) and Teva Pharma (NASDAQ: TEVA) to Outperform from Market Perform citing valuations and positive drivers for generics that include patent expirations and market share expansion.
  • UBS raised Lloyds TSB Group (NYSE: LYG) to Neutral from Sell on expected pricing power following the HBOS (OTC: HBOOY) acquisition.
  • Otter Tail (NASDAQ: OTTR) was upgraded to Outperform from Neutral at Baird.
  • GFI Group (NASDAQ: GFIG) was upgraded at Citigroup to Hold from Sell.
  • Merrill upgraded Logitech (NASDAQ: LOGI) to Neutral from Underperform.
Analyst downgrades:
  • JP Morgan downgraded shares of Lloyds TSB Group to Underweight from Neutral on capital concerns and believes the HBOS acquisition is not in the best interest of shareholders.
  • Stephens downgraded Universal Truckload (NASDAQ: UACL) to Equal Weight from Overweight on valuation and concerns about a slowdown in the flatbed sector. The firm's target remains $28.

Continue reading Analyst calls: AB, WPI, TEVA, LYG, UACL, NTAP, SIMO, BRCM ...

Analyst initiations: AWBC and RJF

MOST NOTEWORTHY: AmericanWest and Raymond James were today's noteworthy initiations:
  • Keefe Bruyette initiated AmericanWest (NASDAQ: AWBC) with a Market Perform rating and $5 target, citing limited capital and credit visibility.
  • Sandler started Raymond James (NYSE: RJF) with a Buy rating.
OTHER INITIATIONS:

Symbol Lookup
IndexesChangePrice
DJIA+132.7910,450.95
NASDAQ+29.972,176.01
S&P 500+14.861,106.24

Last updated: November 24, 2009: 01:51 AM

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