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Analyst upgrades: POT, CSG and ZRAN

MOST NOTEWORTHY: Potash, Cadbury Schweppes and Zoran were today's noteworthy upgrades:
  • Citigroup upgraded shares of Potash (NYSE: POT) to Buy from Hold and raised its target to $178 from $141 to reflect their expectation for a more bullish outcome from the ongoing China Potash contract negotiations.
  • Cadbury Schweppes (NYSE: CSG) was raised to Overweight from Neutral at JP Morgan to reflect the company's takeout potential and cash returns.
  • Oppenheimer raised its rating on Zoran (NASDAQ: ZRAN) to Outperform from Perform on valuation, as they believe the recent weakness is overdone.
OTHER UPGRADES:
  • Pep Boys (NYSE: PBY) was upgraded to Market Weight from Underweight at Thomas Weisel.
  • JMP Securities upgraded Actuate (NASDAQ: ACTU) to Strong Buy from Outperform.
  • Goldman raised Broadcom (NASDAQ: BRCM) to Buy from Neutral.

Analyst upgrades: Trucking sector, Banco Santander, StatoilHydro

MOST NOTEWORTHY: The trucking sector, Banco Santander and StatoilHydro were today's noteworthy upgrades:
  • Bear upgraded the trucking sector to Market Weight from Underweight and continues to expect weak pricing but believes valuations are near a bottom. The firm raised Con-way Inc. (NYSE: CNW) and Knight Transportation (NYSE: KNX) to Peer Perform from Underperform.
  • WestLB upgraded shares of Banco Santander (NYSE: STD) to Buy from Add as they believe the company's diversified business would shield it from an economic slowdown in Spain.
  • StatoilHydro (NYSE: STO) was upgraded to Buy from Hold at Societe Generale on valuation, as they believe the company has one of the most risk/reward profiles in the industry.
OTHER UPGRADES:
  • Under Armour (NYSE: UA) was upgraded to Buy from Hold at Citigroup.
  • B. Riley upgraded Actuate (NASDAQ: ACTU) to Buy from Neutral.
  • Deutsche Bank raised RF Micro (NASDAQ: RFMD) to Hold from Sell.

Analyst upgrades: GM, AYI, PPS, MAN and IMAX

MOST NOTEWORTHY: General Motors, Acuity Brands, Post Properties, Manpower and IMAX Corp were today's noteworthy upgrades:
  • UBS upgraded General Motors (NYSE: GM) to Buy from Sell citing a potential $3B in cost savings from the "transformational contract" with the UAW.
  • Acuity Brands (NYSE: AYI) was upgraded to Outperform from Neutral at Baird based on valuation and management's ability to execute.
  • Post Properties (NYSE: PPS) was raised to Neutral from Sell at Merrill Lynch following its Q3 report and guidance.
  • Citigroup upgraded shares of Manpower (NYSE: MAN) to Buy from Hold as they like the company's business model and balance sheet.
  • Soleil upgraded shares of IMAX Corporation (NASDAQ: IMAX) to Buy from hold with digital IMAX set to launch in Q208, to reflect the attractive economics of the company's new joint venture model.
OTHER UPGRADES:
  • Verizon Communications (NYSE: VZ) was upgraded to Market Perform from Underperform at Raymond James.
  • JMP Securities upgraded Actuate Corporation (NASDAQ: ACTU) to Outperform from Market Perform.
  • Citigroup upgraded FormFactor (FORM) to Buy from Hold and added shares to their Global Tech Conviction List.
  • CIBC upgraded Northgate Minerals Corporation (NYSE: NXG) to Sector Performer from Sector Underperformer.

Symbol Lookup
IndexesChangePrice
DJIA+73.0010,270.47
NASDAQ+18.862,167.88
S&P 500+6.241,093.48

Last updated: November 14, 2009: 05:28 PM

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