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Analyst upgrades 5-25-07: GSK, LNVGY, RFMD and TWB

MOST NOTEWORTHY: GlaxoSmithKline plc (GSK), RF Micro Devices, Inc (RFMD), BMC Software, Inc (BMC) and Tween Brands Inc (TWB) were today's noteworthy upgrades:
  • Jefferies upgraded shares of RF Micro Devices (NASDAQ: RFMD) to Buy from Hold and raised the target to $9.00 from $7.00 after their channel checks indicated RFMD's business has improved since its last earnings call.
  • Cowen raised BMC Software (NYSE: BMC) to Neutral from Underperform citing valuation and improvements in the cash flow for their upgrade.
  • Susquehanna upgraded Tween Brands (NYSE: TWB) to Positive from Neutral based on Justice's performance and recent buyback activity...
OTHER UPGRADES:
  • Lenovo Group Ltd (OTC: LNVGY) was upgraded at Credit Suisse to Neutral from Underperform; JP Morgan upgraded Lenovo to Overweight from Neutral.
  • Goldman upgraded CDI Corp (NYSE: CDI) to Buy from Neutral.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 1-30-07: RBC says Ipsco is an acquisition target

MOST NOTEWORTHY: Ipsco Inc (IPS) and ASV Inc (ASVI) were today's most notable initiations:
  • RBC believes Ipsco Inc (NYSE: IPS) is an acquisition candidate and initiated the company with a Top Pick rating.
  • Ferris, Baker Watts started ASV Inc (NASDAQ: ASVI) with a Buy rating and $20 target, as the firm believes ASV Inc is the only manufacturer to design rubber track loaders from the ground up and to employ a suspended undercarriage.

OTHER INITIATIONS:
  • Jefferies initiated CDI Corp (NYSE: CDI) with a Hold rating and $28 target and is positive on the long-cycle drivers of CDI's business; the firm also believes the company has the potential for operating leverage, but will remain on the sidelines due to concerns of the near-term macro environment.
  • Wachovia initiated Sealy Corp (NYSE: ZZ) with a Market Perform rating citing lack of visibility into fourth-quarter and first-quarter earnings.
  • Sun Trust Robinson Humphrey initiated HealthSouth Corp (NYSE: HLS) with a Buy rating and $27 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+58.2812,859.51
NASDAQ+22.342,926.22
S&P 500+7.341,349.98

Last updated: February 13, 2012: 12:21 PM

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