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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.

Analyst upgrades 7-24-07: CMLS, DFG, PBY and RNOW

MOST NOTEWORTHY: Lee Enterprises (LEE), The Pep Boys (PBY), Cumulus Media (CMLS), VeraSun Energy (VSE) and Acuity Brands (AYI) were today's more noteworthy upgrades:
  • Wachovia upgraded Lee Enterprises (NYSE: LEE) to Market Perform from Underperform on valuation.
  • RBC Capital raised Pep Boys (NYSE: PBY) to Sector Perform from Underperform citing upside potential from its real estate monetization strategy.
  • Cumulus Media (NASDAQ: CMLS) was upgraded to Hold from Sell at Citigroup based on the proposed buyout offer.
  • VeraSun Energy (NYSE: VSE) was upgraded to Hold from Sell at Soleil based on the acquisition of three 110mgy ethanol projects from ASAlliance.
  • Gabelli upgraded Acuity Brands (NYSE: AYI) to Hold from Sell following the company's announcement that it will pursue a tax-free spin-off of its specialty products business...

OTHER UPGRADES:

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 7-18-07: DELL, SNDK, SNY and WMG

MOST NOTEWORTHY: Sanofi-Aventis (SNY), Dell (DELL), Warner Music Group (WMG), KeyCorp (KEY) and SanDisk Corp (SNDK) were today's noteworthy upgrades:
  • HSBC upgraded shares of Sanofi-Aventis (NYSE: SNY) to Overweight from Neutral to reflect the company's new drug pipeline investments.
  • ThinkEquity raised Dell (NASDAQ: DELL) to buy from Sell based on expectations for a better-than-expected July quarter due to strong consumer business demand.
  • Pali Research upgraded Warner Music Group (NYSE: WMG) to Neutral from Sell on valuation with the stock down 40% year-to-date.
  • Merrill upgraded KeyCorp (NYSE: KEY) to Neutral from Sell following better-than-expected Q2 results.
  • JP Morgan upgraded SanDisk (NASDAQ: SNDK) to Overweight from Neutral citing increased demand for NAND applications and supply constraints...
OTHER UPGRADES:
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: 04:27 AM

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