When in doubt, go with those business models that have clout, and Franklin Resources (BEN), first discussed on July 20, 2009, at a price of $73.88, is one.

Ben's shares have have pulled back to about $123 this spring, after hitting $131. And needless to add, if you're in near $74, now may be a good time to consider taking some profits.

However, those investors who can tolerate the risk can maintain their full position and go for a larger gain, but keep in mind the journey to $150 probably won't be completed in 2011.

The shares of Franklin Resources (BEN) have pulled back, after retesting highs near $126. I first discussed Franklin on July 20, 2009, at a price of $73.88, and if you're in near that price, now may be a good time to consider taking some profits.

However, those investors who can tolerate the risk can maintain their full position and go for a larger gain, but keep in mind the journey to $150 probably won't be completed in 2011.

Analyst Upgrades

• TCF Financial (TCB) to buy from hold at Deutsche Bank.
• Exelon (EXC) to market perform from underperform at Wells Fargo.
• Nvidia (NVDA) and Boyd Gaming (BYD) upgraded to overweight from equal weight at Barclays.
• Estee Lauder (EL) to buy from neutral at UBS.
• Webster Financial (WBS) to buy from hold at Jefferies.
• Skilled Healthcare (SKH) to outperform from market perform at Morgan Keegan.
• Acorda Therapeutics (ACOR) to outperform from market perform at Leerink.
• NCR Corp. (NCR) to outperform from neutral at Wedbush.
• Barnes & Noble (BKS) to neutral from underperform and Pioneer Natural (PXD) to outperform from neutral at Credit Suisse.
• Autodesk (ADSK) to buy from neutral at Goldman.

For those of you who stuck with Franklin Resources (BEN), first discussed on July 20, 2009, at a price of $73.88, despite its 30% summer drop, you've been rewarded, to say the least.

Franklin's shares zoomed higher beginning in mid-summer, took out key, psychological resistance at $100, and recently vaulted above $120. And I still like the shares here.

One of the best-run asset managers globally, Franklin's double-digit asset growth should continue in FY2011, aided by an improved asset mix, better fund performance across asset classes, and increased flows from money market funds. Look for BEN's revenue to increase 15% to 18% in FY2011.

Analyst Upgrades

• Piper Jaffray upgraded Salesforce.com (CRM) to overweight from neutral, citing valuation following the recent sell-off and strong business trends. The firm has a $115 price target for shares.
• Keefe Bruyette upgraded M&T Bank (MTB) to market perform from underperform on valuation after AIB sold its stake in the company. The firm has a $72 price target for shares.
• Jefferies upgraded OGE Energy (OGE) to buy from hold following the announcement that ArcLight will purchase 9.9% of OGE's interest in Enogex for $183M and believes this deal highlights the hidden value associated with Enogex. The firm raised its price target to $51.50 from $43.
• Thomas & Betts (TNB) was upgraded to outperform from perform at Oppenheimer.
• Bayer (BAYRY) was upgraded to buy from neutral at UBS.
• Texas Roadhouse (TXRH) was upgraded to outperform from neutral at Baird.

Analyst Upgrades

• FBR Capital upgraded Franklin Resources (BEN) to outperform from market perform and raised its target price for shares to $127 from $105 to reflect its belief the company is well positioned in the current environment.
• UBS upgraded Nuance (NUAN) to buy from neutral and has an $18 price target on the stock. The firm upgraded shares based on valuation and believes the company could be an acquisition target.
• Morgan Stanley upgraded DryShips (DRYS) to equal weight from underweight and has a $5.50 target on the stock. The firm cites the firmer ultra-deepwater drilling market for the upgrade.
• Becton Dickinson (BDX) was upgraded to neutral from sell at Goldman.
• Edwards Lifesciences (EW) was upgraded to market perform at Rodman & Renshaw.
• Arkansas Best (ABFS) was upgraded to neutral from underperform at BofA/Merrill.

Option traders appear to be setting up for a bullish move on Market Vectors Agribusiness ETF (MOO). Traders plowed into 2,601 new call option contracts -- 20.81 times the average volume -- on the stock on Wednesday. And we know that traders were eager to get into this trade because 89% of the trades came in on the ask price.

The ETF closed Wednesday at $45.60, up 4.35% during the past month.

Analyst upgrades:

• Citigroup assumed coverage of Boeing (BA) and upgraded the stock to Buy from Hold due to its positive view on the aerospace cycle and valuation. The firm raised its target for shares to $80 from $73.
• Morgan Stanley upgraded Motorola (MOT) to Overweight from Underweight citing expectations for higher handset margins driven by Android. The analyst raised Android unit shipping estimates and earnings estimates. The firm raised its price target on shares to $9.75 from $8.75.
• Susquehanna upgraded SINA Corporation (SINA) to Positive from Neutral and has a $50 target on the stock. The firm said Sina'a Twitter like service called 'Sina Weibo' has seen exponential growth and will crate huge value for the company.
• AOL (AOL) was upgraded to Neutral from Underperform at Credit Suisse.
• Frontier Communications (FTR) was upgraded to Sector Perform from Underperform at RBC Capital and to Buy from Hold at Hudson Square.
• Canadian Solar (CSIQ) was upgraded to Outperform from Market Perform at Wells Fargo.

The shares of money management firm Franklin Resources (BEN), which I first discussed on July 20, 2009 at a price of $73.88, have dropped more than 30% with the Dow's recent decline, but the shares are still favored. Here's why:

One of the best-run asset managers, Franklin's double-digit asset growth should continue in FY2010, aided by an improved asset mix, better fund performance across asset classes, and increased flows from money market funds.

BEN's relatively strong balance sheet, declining debt liabilities, and prudent cost cuts rounds out the solid business model.

Money management firm Franklin Resources (BEN), which I first wrote about on July 20, 2009 at a price of $73.88, has survived the financial crisis and recession in good shape.

One of the best-run asset managers, Franklin's double-digit asset growth should continue in FY2010, aided by an improved asset mix, better fund performance across asset classes, and increased flows from money market funds. BEN's relatively strong balance sheet, declining debt liabilities, and prudent cost cuts rounds out the positive story.

With the U.S./global economies recovering, and increased confidence in equity market gains, moving forward, the landscape for money managers is improving, and that's a major reason I'm reiterating my buy rating for Franklin Resources (BEN), first recommended on July 20, 2009 at a price of $73.88. If you bought BEN in July, you're up about 50%.

Franklin's double-digit asset growth should continue in FY2010, aided by an improved asset mix, better fund performance across asset classes, and increased flows from money market funds. BEN's relatively strong balance sheet, and prudent cost cuts rounds-out the positive story. The First Call FY2010/FY2011 EPS estimates for BEN are $6.08 to $7.03.

Analyst upgrades:

• Deutsche Bank upgraded T. Rowe Price (TROW) to buy from hold due to valuation and solid core trends. The firm raised its target on shares to $57 from $55. Note the firm downgraded Franklin Resources to hold from buy (see below).
• KeyBanc upgraded U.S. Steel (X) to buy from hold based on stable domestic cost environment in 2010 and likelihood of sustained higher spot pricing. The firm has a $65 target on shares.
• Goldman upgraded Canadian Natural Resources (CNQ) to buy from neutral, citing oil leverage, sizable resource base and free cash flow. The firm raised its target to $90 from $88.
• Darden (DRI) was upgraded to buy from neutral at UBS.
• Carnival (CCL) was upgraded to overweight from neutral at JPMorgan.
• AmerisourceBergen (ABC) was upgraded to overweight from equal weight at Barclays.

Analyst upgrades:

• FBR upgraded Abercrombie & Fitch (ANF) to reflect strong channel checks over the Black Friday weekend. The firm raised its target on shares to $46 from $39.
• Morgan Stanley upgraded Safeway (SWY), citing improvements in pricing.
• Baird upgraded US Bancorp (USB) based on valuation. The firm raised its target price to $29 from $25.
• HSBC Holdings (HBC) was upgraded to buy from neutral at BofA/Merrill.
• Genzyme (GENZ) was upgraded to buy from hold at Citigroup.
• Deere (DE) was upgraded to outperform from market perform at Wells Fargo.

The Franklin Resources (NYSE: BEN) Buy call, issued on July 20, 2009 at a price of $73.88, is panning out, which is why I'm Reiterating my Buy rating for the company' shares. If you bought BEN in July, you're up about 54%.

The advice furnished here is to avoid stand-alone money managers as equity plays, but Franklin is an exception. BEN's double-digit asset growth should continue in FY2010 aided by an improved asset mix, and better fund performance across asset classes. BEN's relatively strong balance sheet and declining debt liabilities fleshes-out the positive story.

Analyst upgrades:

• Citigroup upgraded Capital One (NYSE: COF) to Buy from Hold as it believes the credit cycle is starting to recover for U.S. credit cards and an improving economy will support bank credit stabilization. The firm raised its target on shares to $44 from $28.
• JPMorgan upgraded Morgan Stanley (NYSE: MS) to Overweight from Neutral on valuation and believes the stock market recovery will serve as a catalyst.
• Deutsche Bank upgraded F5 Networks (NASDAQ: FFIV) to Buy from Hold after its channel checks indicated a sooner-than-expected order ramp and stabilizing pricing trends. The firm raised its target on shares to $46 from $39.
• COTT Corp. (NYSE: COT) was upgraded to Buy from Neutral at UBS.
• Blackstone Group (NYSE: BX) was upgraded to Equal Weight from Underweight at Barclays.
• Illinois Tool Works (NYSE: ITW) was upgraded to Conviction Buy from Neutral at Goldman.