Analyst Upgrades

• Diamond Offshore (DO) to conviction buy from sell and Baker Hughes (BHI) to buy from neutral at Goldman.
• Frontier Communications (FTR) to outperform from market perform at Wells Fargo.
• Syntel (SYNT) to outperform from market perform at Wells Fargo, to buy from hold at Deutsche Bank and to buy from neutral at Janney Capital.
• Kulicke & Soffa (KLIC) and Fiserv (FISV) to outperform from perform at Oppenheimer.
• 3M (MMM) to neutral from underweight and Tyco (TYC) to overweight from neutral at JPMorgan.
• Collective Brands (PSS) and Nordstrom (JWN) to overweight from equal weight, as well as Foot Locker (FL) to equal weight from underweight, at Morgan Stanley.
• Amazon.com (AMZN) to buy from hold at Lazard Capital.
• Yamana Gold (AUY) to outperform from neutral at Credit Suisse.

Continue reading Analyst Calls: APC, AMZN, CME, DO, GPS, H, JCP, JWN, KSS, PM SYNT ...

Analyst Calls: APC, AMZN, CME, DO, GPS, H, JCP, JWN, KSS, PM SYNT ... originally appeared on BloggingStocks on Fri, 07 Jan 2011 11:20:00 EST. Please see our terms for use of feeds.

Continue reading Call Volume Surges on Yamana Gold

Call Volume Surges on Yamana Gold originally appeared on BloggingStocks on Tue, 09 Nov 2010 14:00:00 EST. Please see our terms for use of feeds.

Options Update: Euro Currrency Trust Volatility Elevated; Euro Trends Lower originally appeared on BloggingStocks on Tue, 18 May 2010 14:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• JPMorgan upgraded TiVo (TIVO) to overweight from neutral as it believes Thursday's appeal win against DISH Network could lead to revenue upside. The firm raised its target price for shares to $23 from $15.
• Collins Stewart upgraded DISH Network (DISH) to buy from hold on valuation, as it believes much of the impact from the negative appeals ruling is priced into the stock. The firm has a $30 target for shares.
• Cowen upgraded Ciena (CIEN) to outperform from neutral. The firm believes Ciena's acquisition of MEN is transformative and will accelerate top line growth.
• Progress Software (PRGS) was upgraded to buy from hold at Needham.
• Allergan (AGN) was upgraded to buy from hold at Lazard Capital.
• Public Service (PEG) was upgraded to buy from hold at Jefferies.

Continue reading Analyst Calls: CIEN, COF, DISH, ED, GME, MOS, POT, TIVO, WEN ...

Analyst Calls: CIEN, COF, DISH, ED, GME, MOS, POT, TIVO, WEN ... originally appeared on BloggingStocks on Fri, 05 Mar 2010 11:40:00 EST. Please see our terms for use of feeds.

Yamana Gold (NYSE: AUY) closed at $11.79. Gold is recently up 0.40% to $1093.70 according to Bloomberg. AUY November option implied volatility is at 60; January is at 59; versus its 26-week average of 59, according to Track Data, suggesting non-directional price movement.

Limited (NYSE: LTD) closed at $17.89. LTD reported comparable store sales decreased 2% for Q3. LTD is expected to report Q3 EPS on November 19. LTD November option implied volatility is at 60; December is at 56 above its 26-week average of 53, according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Options Update: Yamana Gold volatility at 60 on $1093 gold originally appeared on BloggingStocks on Fri, 06 Nov 2009 08:00:00 EST. Please see our terms for use of feeds.

One of the hottest gold stocks is Yamana Gold Inc. (NYSE: AUY).

With a share price that is affordable to the retail customer, smaller investors have been gobbling up shares in 2009.

But like AngloGold, the credit crisis knocked the wind out of the Yamana trade.

Shares actually were fairly valued when they bottomed below $5 per share. Now, with more than 100% recovery of that value, AUY trades above $10 per share. As a result, the valuation is way ahead of itself. Shares of AUY trade for more than 17 times trailing earnings and 18 times forward earnings. Gold prices would have to continue increasing by 15% to 20% per annum in order to justify these prices.

Continue reading Gold stock to sell #3: Yamana Gold (AUY)

Gold stock to sell #3: Yamana Gold (AUY) originally appeared on BloggingStocks on Sun, 13 Sep 2009 09:00:00 EST. Please see our terms for use of feeds.

Gold at $1,000. Better buy now or you will miss the greatest invention since tulips in the 1800s.

Or so they say. I say, what a bunch of baloney. Why on earth would I want to put hard-earned cash on something that may look pretty but has no real tangible value?

That's right, gold has no tangible value. Well, that's not entirely true since there is a vast cult of worshipers out there that say gold is the only thing with value. As a result of their die-hard belief, gold actually does have value, as we now see with AU trading for $1,000 per ounce.

Continue reading Gold is losing its shine: Five to sell now

Gold is losing its shine: Five to sell now originally appeared on BloggingStocks on Sat, 12 Sep 2009 09:00:00 EST. Please see our terms for use of feeds.

Continue reading Yamana Gold (AUY) drops as gold futures fall

Yamana Gold (AUY) drops as gold futures fall originally appeared on BloggingStocks on Mon, 08 Jun 2009 13:00:00 EST. Please see our terms for use of feeds.

• Deutsche Bank upgraded shares of Camden Property (NYSE: CPT) to Hold from Sell on valuation and believes the company has improved its liquidity position. Despite the upgrade, the firm lowered its target price to $21 from $25.
  
• Goldman added Best Buy (NYSE: BBY) to its Conviction Buy List as it is now the sole dominant retailer in consumer electronics and expects Best Buy's margins to benefit from Circuit City's demise.
  
• Molson Coors (NYSE: TAP) was upgraded to Overweight from Neutral at JP Morgan as it finds the valuation attractive and sees a number of long-term fundamental positive catalysts. The firm has a $47.50 target on shares.
• United Rentals (NYSE: URI) and Illinois Tool Works (NYSE: ITW) were upgraded to Buy from Neutral at UBS.
  
• ProLogis (NYSE: PLD) was upgraded to Buy from Neutral at Banc of America/Merrill.

• Oppenheimer downgraded Global Traffic Network (NASDAQ: GNET) to Perform from Outperform following the company's weaker than expected Q2 results and lowered its target price to $6.25 from $7.
  
• Friedman Billings downgraded BankAtlantic (NYSE: BBX) to Underperform from Market Perform to reflect the deterioration of both the company's credit and capital in Q4. The firm lowered its target price to $1 from $5.
  
• RBC Capital downgraded AbitibiBowater (NYSE: ABH) to Underperform from Sector Perform and lowered its target to 50 cents from $2.00 following the company's debt refinancing announcement.
• Lions Gate (NYSE: LGF) was cut to Market Weight from Overweight at Thomas Weisel.
  
• Ctrip.com (NASDAQ: CTRP) was downgraded at Goldman to Sell from Neutral.
  
• Molson Coors (NYSE: TAP) was downgraded to Neutral from Buy at Banc of America/Merrill.

• Oppenheimer initiated Chattem (NASDAQ: CHTT) with an Outperform rating and believes the company's business model is well suited for the current uncertain consumer environment. The firm has an $80 target on the stock.
• Freeport McMoRan (NYSE: FCX) was initiated at BMO Capital with a Market Perform rating and $30 target.
  
• Anglo American (NASDAQ: AAUK) was assumed with a Sell rating at Societe Generale.
  
• Yamana Gold (NYSE: AUY) was started at UBS with a Buy rating.

Analyst upgrades, downgrades and initiations: BBY, TAP, LGF, FCX, AUY ... originally appeared on BloggingStocks on Wed, 11 Feb 2009 11:42:00 EST. Please see our terms for use of feeds.

Continue reading Hedge Inflation with two gold ETF ideas: GDX and GLD

Hedge Inflation with two gold ETF ideas: GDX and GLD originally appeared on BloggingStocks on Wed, 19 Nov 2008 17:15:00 EST. Please see our terms for use of feeds.

Continue reading Gold prices drop and take several gold stocks to new 52 week lows

Gold prices drop and take several gold stocks to new 52 week lows originally appeared on BloggingStocks on Thu, 23 Oct 2008 16:40:00 EST. Please see our terms for use of feeds.

Minyanville contributor Lance Lewis dares to share the kind of keen insight and actionable information you won't find in any prospectus. For more original thought, visit www.minyanville.com.

Professor Lewis,

Interesting times, eh what? Is gold being sold -- as the dollar trips down beneath 106 yen -- to raise cash?

For example, was the hedge fund world heavily invested enough there to make gold vulnerable as the ill effects of Lehman work themselves through the system?

Also, any current thoughts about Golden Star Resources Ltd. (NYSE: GSS), Yamana Gold Inc. (NYSE: AUY), Kinross Gold Corporation (NYSE: KGC), and the NYSE gold ETF (NYSE: GLD)?

Cheers,
Minyan Bill

MB,

I think you are just seeing gold (and gold stocks) flag a bit here.

Now that we have a deal from Congress, I expect everything is likely going to melt up, but gold and gold equities should rally more (and even make new highs) given the inflationary nature of this deal. Meanwhile, the rally in stocks is likely to just be a bear market rally. This $700 bln will keep the financial system functioning, but it's not a cure-all. It's also going to further cement the stagflationary forces that are pressing in from all sides. That's good for gold but not good for much else.

As for the dollar, I'm not sure we'll see new lows because the G7 will no doubt try and support it, but we could see the DXY move back to its July lows potentially after this bill has passed.

As for thoughts on GSS, KGC, AUY, and GLD, I like them all at these prices.

Prof. Lewis

Mailbag: Bailout's effect on gold originally appeared on BloggingStocks on Thu, 25 Sep 2008 15:56:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• JP Morgan upgraded O'Reilly (NASDAQ: ORLY) to Overweight from Neutral, citing increased demand and CSK acquisition synergies.
  
• Yamana Gold (NYSE: AUY) was raised to Outperform from Sector Perform by RBC Capital, based on valuation and the firm's expectation that gold will rally.
  
• HSBC upgraded KLA-Tencor (NASDAQ: KLAC) to Overweight from Neutral with a $44 target.

• Bernstein dropped DISH Network (NASDAQ: DISH) to Underperform from Market Perform, citing continued weak operations, declining cash flow, and satellite sector headwinds, among other reasons.
  
• Macy's (NYSE: M) was downgraded to Neutral from Buy by Goldman Sachs based on valuation.
  
• Kohl's (NYSE: KSS) was also dropped to Neutral from Buy by Goldman based on valuation.
  
• UBS downgraded Dr Pepper Snapple (NYSE: DPS) to Neutral from Buy based on valuation.

• Salesforce.com (NYSE: CRM) was started with a Buy rating by Kaufman Bros., which believes the core on-demand CRM application market is nowhere close to full penetration.
  
• Caris initiated Eli Lilly (NYSE: LLY) with a Below Average rating, citing the company's Zyprexa and Cymbalta patent expirations.
  
• Leerink Swann assumed coverage of Amgen (NASDAQ: AMGN) with an Outperform, as the firm predicts that the company's denosumab will allow the company to substantially increase its earnings starting in 2010.

Analyst calls: ORLY, DISH, M, KSS, DPS, CRM, LLY ... originally appeared on BloggingStocks on Wed, 20 Aug 2008 11:51:00 EST. Please see our terms for use of feeds.

Continue reading Before the bell: Stocks may rebound; HPQ, FRE, EBAY, AAPL, AUY, F

Before the bell: Stocks may rebound; HPQ, FRE, EBAY, AAPL, AUY, F originally appeared on BloggingStocks on Wed, 20 Aug 2008 08:10:00 EST. Please see our terms for use of feeds.

When gold was trading above $1,000 an ounce, Curtis Hesler reversed his buy signal and fortuitously warned of a seasonal pullback expected over the summer.

In his The Professional Timing Service, he stated, "Gold should settle into the cyclical and seasonal lows due in early August. Although you will hear plenty of bearish arguments as gold prices pull back, weakness will be a buying opportunity."

He now explains, "I don't think there is much left on downside for the mining shares. We will likely see the miners firm up and begin to rally before the bullion. My adice is to hold tight and exploit the fear.

"This weakness presents a final opportunity before the late summer and early fall strength returns to precious metals. The coast is clearing for gold to advance to new highs by October when its next seasonal high is due.

"Longer-term, I can't help but wonder if gold isn't anticipating the next break in the dollar. We all should be thinking about the trillions of dollars in U.S. government unfunded liabilities for Medicare, Social Security, pensions, etc. There's going to be a tsunami of dollars printed to cover all of that.

"At the top of my buy list is Kinross (NYSE: KGC). Yamana (NYSE: AUY) is an excellent diversification in the precious metals sector. Also among my favorites is Goldcorp (NYSE: GG)."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.

Gold cycle: Seasonal low is due originally appeared on BloggingStocks on Fri, 15 Aug 2008 10:00:00 EST. Please see our terms for use of feeds.

Continue reading With U.S. stocks plunging, here are some Canadian stock picks

With U.S. stocks plunging, here are some Canadian stock picks originally appeared on BloggingStocks on Fri, 11 Jul 2008 15:34:00 EST. Please see our terms for use of feeds.

With gold trading down sharply from its highs, Keith-Fitzerald offers a special report on gold stocks in Money Morning, highlighting three companies that he consider to be the "very best of the best."

"Gold remains a key profit opportunity -- especially if inflation, or even stagflation, is taking hold. It should also help that economic uncertainty is escalating. However, since the economic outlook has grown more uncertain, we've decided to our recommended list down to just three picks:

"The StreetTracks Gold Trust (NYSE: GLD) is an ETF that tracks the price of gold directly, making it the simplest way to invest in the yellow metal via an ETF. And with a market cap approaching $17 billion, this fund has ample liquidity.

"Barrick Gold Corp. (NYSE: ABX) is a Toronto-based company with mostly North American production, as well as properties in South America and Africa, and some copper and zinc add-ons. It has a $38 billion market capitalization, so there's plenty of liquidity.

Continue reading Best of breed in the gold sector

Best of breed in the gold sector originally appeared on BloggingStocks on Wed, 18 Jun 2008 12:45:00 EST. Please see our terms for use of feeds.

"The recent pullback in commodity prices has opened up this window of opportunity," says resources expert Larry Edelson who reaffirms his long-term bullishness on gold.

In his Real Wealth newsletter, he explains, "If you think the slowdown in the U.S. economy is impacting China and other emerging markets - ground zero for the natural resources boom - think again." Here, he discusses his favorite gold plays.

"Not only are the Chinese and Indian economies expected to surge more than 9% this year, countless other economies throughout Asia, the former Soviet states and Latin American countries are also growing by leaps and bounds.

"As long as this massive new demand continues, natural resources and commodities will continue to soar And investors who use temporary pull-backs in this long-term bull market stand to multiply their money - over and over again - for years to come.

"You must own some gold in this economic environment. Gold represents the epitome of the natural resource boom because it is the world's best barometer of inflation and financial crises. When inflation is on the rise, as it is now all over the world, gold thrives.

Continue reading Golden favorites: streetTRACKS Gold (GLD) and Yamana (AUY)

Golden favorites: streetTRACKS Gold (GLD) and Yamana (AUY) originally appeared on BloggingStocks on Mon, 02 Jun 2008 12:48:00 EST. Please see our terms for use of feeds.

"You must own some gold in this economic environment," emphasizes natural resources authority Larry Edelson who sees the recent setback in gold prices as "an ideal time to buy."

The editor of Real Wealth offers two "core" favorites for those seeking to invest in the sector: streetTRACKS Gold Trust (NYSE: GLD) and Yamana Gold (NYSE: AUY). Here is his review.

"Gold represents the epitome of the natural resource boom. It is the world's best barometer of inflation and financial crises. When inflation is on the rise, as it is now all over the world, gold thrives.

"And when there are financial crises, as we now have with the plunging dollar and the meltdown in the mortgage markets in the U.S. - gold gets an extra boost. Savvy investors flock to the safety of the precious metal, pushing its price even higher.

"In addition, there's more to the bull market in gold than just inflation and financial problems in the United States. Three billion new consumers in Asia are buying gold hand over fist! Previously in China, investors were not allowed to own gold. Now they can, and they are buying up gold like crazy.

Continue reading Pullback creates 'ideal opportunity' in gold

Pullback creates 'ideal opportunity' in gold originally appeared on BloggingStocks on Mon, 28 Apr 2008 10:20:00 EST. Please see our terms for use of feeds.

"The recent decline in gold from above $1,000 is prompting gold bears to say that the great gold bull market has reversed itself," says Martin Hutchinson who states, "Let me say right now: They're wrong."

In his Money Map Reporter, he explains, "Thanks to three key catalysts, we may well see gold at $1,500 an ounce this year, if not higher." Here's his outlook and a trio of ways to play this trend.

"These three catalysts - worldwide monetary policy, global supply-and-demand for gold, and gold's past performance - have already ignited a powerful rally that's virtually certain to carry gold to much higher price points, despite the breather the rally appears to be taking right now.

"Don't be fooled. Every rally needs a catalyst - something that ignites and then fuels the bullish trend. As noted above, gold has three. Let's take a look at each of them:

1. Monetary policy: More than for any other investment, gold's price depends primarily on the world's monetary policy. When monetary policy is loose, as it was in the 1970s, gold prices soar. When it is tight, as in the 1980s, prices decline sharply.

Continue reading Trio of catalysts set to boost gold

Trio of catalysts set to boost gold originally appeared on BloggingStocks on Mon, 14 Apr 2008 13:30:00 EST. Please see our terms for use of feeds.