Tax Reform in This Election Year: It's Not Likely
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MOST NOTEWORTHY: Trina Solar, Adtran and Elan Corp were today's noteworthy upgrades:
- Friedman Billings upgraded Trina Solar (NYSE: TSL) to Market Perform from Underperform citing expectations for improved FCF following the company's announcement to discontinue its in-house poly manufacturing.
- Thomas Weisel believes Adtran (NASDAQ: ADTN) is in a multi-year transition where new products are able to offset continued declines in the legacy products. Shares were raised to Overweight from Market WEight, and also upgraded at Raymond James to Strong Buy from Outperform.
- Goldman upgraded shares of Elan Corp. (NYSE: ELN) to Buy from Neutral to reflect their outlook for Tysabri and Bapineuzumab.
OTHER UPGRADES:
- Suntrust upgraded BOK Financial (NASDAQ: BOKF) to Buy from Neutral.
- Plains All American (NYSE: PAA) was upgraded at Morgan Stanley to Overweight from Equal Weight.
- Morgan Keegan upgraded Diodes (NASDAQ: DIOD) to Outperform from Market Perform.
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