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Analyst upgrades: TSN, UN, BRKS, AKZOY and YHOO

MOST NOTEWORTHY: Tyson Foods, Unilever, Brooks Automation, Akzo Nobel and Yahoo! were today's noteworthy upgrades:
  • Deutsche Bank upgraded shares of Tyson Foods (NYSE: TSN) to Buy from Hold on valuation and the potential for protein complex improvement.
  • Goldman upgraded shares of Unilever (NYSE: UN) to Neutral from Sell to reflect the company's diversified product range and growing exposure to developing and emerging markets.
  • Bear Stearns raised its rating on Brooks Automation (NASDAQ: BRKS) to Outperform from Peer Perform. The firm cited the company's compelling valuation and growth drivers.
  • Akzo Nobel (OTC: AKZOY) was upgraded to Buy from Hold at SNS Securities, as they see absolute total return greater than 20%.
  • CIBC upgraded Yahoo! (NASDAQ: YHOO) to Sector Outperformer from Sector Performer on valuation following the recent pullback and their analysis of Yahoo's non-operating assets. They believe Yahoo's stake in Alibaba Group is now worth about $4/share and raised their target to $31 from $28.
OTHER UPGRADES:
  • First Analysis upgraded Spss Inc (NASDAQ: SPSS) to Overweight from Equal Weight.
  • UBS upgraded Yamana Gold (NYSE: AUY) to Buy from Neutral.
  • WestLB upgraded Alcatel-Lucent (NYSE: ALU) to Hold from Reduce.
  • HSBC upgraded Posco (NYSE: PKX) to Overweight from Neutral.

Newspaper wrap-up 8-1-07: More bad news at Home Depot

MAJOR PAPERS:
OTHER PAPERS:
  • According to people familiar with the matter, Dow Chemical Company (NYSE: DOW), the largest chemicals group in the U.S., is considering making a counter-bid for ICI, which has a GBP7.8B bid from Akzo Nobel (NASDAQ: AKZOY), reported the Telegraph.
  • The Telegraph reported that British Airways (OTC: BAIRY) has agreed to pay a fine of GBP121.5M to the U.K.'s Office of Fair Trading and will also pay a fine to the U.S. Department of Justice because of its involvement in an alleged price-fixing scandal.
WEBSITES:
  • Home Depot Inc (NYSE: HD) has fired four purchasing managers for their involvement in a purchasing scandal involving millions of dollars in kickbacks regarding the display of flooring products, reported CBS News.

Symbol Lookup
IndexesChangePrice
DJIA-154.4810,309.92
NASDAQ-37.612,138.44
S&P 500-19.141,091.49

Last updated: November 28, 2009: 09:57 AM

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