MOST NOTEWORTHY: Gap Inc (GPS), World Wrestling Entertainment, Inc (WWE), AstraZeneca plc (AZN), and Nike, Inc (NKE) top today's list of noteworthy upgrades:
- Wachovia upgraded shares of Gap Inc (NYSE: GPS) to Outperform from Market Perform citing increased visibility on the turnaround and execution given modest merchandising improvements at Old Navy and GapKids, potential cost-cutting by late Spring and Summer and potential improved products at Gap adult by the holiday season into Spring 2008.
- Bernstein upgraded AstraZeneca plc (NYSE: AZN) to Market Perform from Underperform citing valuation and more realistic expectations.
- Off The Record Research changed their view to Positive on Nike Inc (NYSE: NKE) shares given the company's lack of discounting, share gains at Foot Locker (FL) and momentum in Europe.
OTHER UPGRADES:
- Lehman Brothers upgraded LG Phillips LCD Co, Ltd (NYSE: LPL) to Overweight from Equal Weight citing a fundamentals turnaround in display and structural changes occurring now rather than in the second-half of 2007.
- Friedman Billings believes TD AmeriTrade Holding Corp (NASDAQ: AMTD) has compelling risk/reward and upgraded shares to Outperform from Market Perform given significant free cash flow and an attractive valuation that increases the likelihood that the company could become a takeover target.
- Goldman Sachs upgraded The Mosaic Co (NYSE: MOS) to Buy from Neutral on valuation.
- AG Edwards upgraded American Home Mortgage nvestment Corp (NYSE: AHM) to Buy from Hold and believes the market has over-reacted, pulling shares down with it.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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