MOST NOTEWORTHY: FedEx Corp (FDX) and Applied Materials Inc (AMAT) were today's notable upgrades:
- Morgan Keegan upgraded FedEx Corp (NYSE: FDX) to Outperform from Market Perform. The firm said recent data indicates that the company's core business segments are well-positioned for operational improvements given current initiative; data also indicates that we may have reached a bottom in the economy and can potentially expect a soft landing.
- Applied Materials Inc (NASDAQ: AMAT) was upgraded to Buy from Hold with a $25 target at First Albany and Stanford, as they believe the company's memory cycle is better than investors may think.
OTHER UPGRADES:
- Coca-Cola Enterprises Inc (NYSE: CCE) was upgraded to Market Perform from Underperform at Bernstein because the firm no longer sees any major negative catalysts ahead.
- Apria Healthcare Group Inc (NYSE: AHG) was upgraded to Hold from Sell with a $30 target at Deutsche Bank. The firm said Apria reported a solid fourth quarter and near-term momentum was more clear.
- JP Morgan upgraded King Pharmaceuticals inc (NYSE: KG) to Neutral from Underweight on valuation and the potential of a prolonged delay of generic Skelazin.
- Citigroup upgraded Ciena Inc (NASDAQ: CIEN) to Buy from Hold, but still considers JDS Uniphase Corp (NASDAQ: JDSU) their top pick for capacity exposure.
- Jefferies raised Applebee's Int'l Inc (NASDAQ: APPB) to Hold from Underperform to reflect the company's decision to seek strategic alternatives.
- Prudential upgraded Nasdaq Stock Market Inc (NASDAQ: NDAQ) to Neutral from Underweight with a $30 target.
- JMP Securities upgraded KB Home (NYSE: KBH) to Outperform from Market Perform with a $60 target.
Analyst summaries provided by
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