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Analyst upgrades, downgrades and initiations: ADBE, HAL, GCI, GT, IMAX, URBN ...

Analyst upgrades:

  • Sierra Wireless (NASDAQ: SWIR) was upgraded at Jefferies to Hold from Underperform following Q3 results. The firm believes the Wavecom acquisition integration is progressing better than expected and finds the valuation attractive at current levels. The firm raised its price target to $10 from $5.
  • Boston Properties (NYSE: BXP) was upgraded to Buy from Hold at Deutsche Bank to reflect the company's recapitalization and better-than-expected occupancy. The firm raised its target to $69 from $46.
  • Wyndham (NYSE: WYN) was upgraded to Outperform from Market Perform at FBR Capital after the shares sold off following the company's Q3 results. The firm raised its target to $23 from $15.
  • Human Genome (NASDAQ: HGSI) was upgraded to Overweight from Neutral at JPMorgan. Target was raised to $25 from $14.
  • Urban Outfitters (NASDAQ: URBN) was upgraded to Overweight from Market Weight at Thomas Weisel as they expect a "meaningful sales and earnings improvement in Q4." Target was raised to $39 from $32.
  • Methanex (NASDAQ: MEOH) was upgraded to Buy from Neutral at UBS, citing improved methanol demand following the Q3 report. Target was raised to $19.50 from $17.
  • Buffalo Wild Wings (NASDAQ: BWLD) was upgraded at Raymond to Market Perform from Underperform.

Continue reading Analyst upgrades, downgrades and initiations: ADBE, HAL, GCI, GT, IMAX, URBN ...

The week in preview: Is the rally over?

Autumn has arrived and the quarter winds down this week. The Dow has been inching toward 10,000 for a while now, though it closed lower in the past three sessions. Can it make it to 10,000 for the start of the third quarter? If so, what will push it higher? If not, what will drag it down further?

Continue reading The week in preview: Is the rally over?

Analyst upgrades, downgrades and initiations: GLW, A, BHP, MJN, AET ...

Analyst upgrades:
  • Citigroup upgraded shares of Corning (NYSE: GLW) to Buy from Hold as it believes LCD glass production and sales have bottomed and will pick-up in Q2. The firm raised its target price to $16 from $11.25.
  • Thomas Weisel upgraded Celera (NASDAQ: CRA) to Overweight from Market Weight based on valuation and its strong business model.
  • ThinkEquity upgraded Varian Semi (NASDAQ: VARI) to Buy from Accumulate and raised its target to $32 from $20 based on valuation and weakness at its sole competitor.
  • Sanofi-Aventis (NYSE: SNY) was upgraded to Hold from Underperform at Jefferies.
  • Agilent (NYSE: A) was raised to Outperform from Neutral at Credit Suisse.
  • Liberty Interactive (NASDAQ: LINTA) was upgraded at JP Morgan to Neutral from Underweight.

Continue reading Analyst upgrades, downgrades and initiations: GLW, A, BHP, MJN, AET ...

The week in preview: Interest rates, manufacturing, earnings gainers

On Tuesday, the Federal Reserve's FOMC holds two-day meeting on interest rates and will announce its decision on Wednesday. The Fed's Ben Bernanke will still be out and about this week, discussing the failure of Lehman Brothers later today, and ending up the week speaking at the Independent Community Bankers of America National Convention and Techworld.

Manufacturing will be in focus this week, starting with industrial production numbers for February and the Empire State Manufacturing Survey Diffusion Index for March scheduled to be released Monday morning. Tuesday morning will bring us the Producer Price Index for February, and Thursday morning comes the Philadelphia Fed Outlook Survey -- Diffusion Index Manufacturing for March.

Continue reading The week in preview: Interest rates, manufacturing, earnings gainers

A defensive investment: Biotechnology ETFs

One of the buzzwords that is currently in vogue in the investment community is biotechnology. This is a broad-based field that covers technological applications in any biological system, meaning humans, animals, agriculture, and medicines. This is a booming science and the investment field offers many opportunities for wealth accumulation.

If you don't want to spend countless hours trying to understand not just financials, but scientific and technical jargon that biotech companies harbor, exchange-traded funds (ETFs) may be the better choice for investing in the biotechnology industry.

An ETF is similar to buying a share of a company, but instead of getting one particular company you're investing in a bundle of companies within a particular field or specialty. It's a great way to invest in something you believe in while still hedging your bets and having a bit of diversity.

Continue reading A defensive investment: Biotechnology ETFs

The week in preview: A bottom for the housing sector?

Earnings reports continue to dribble in as the quarter winds down. Much of the attention this week will be on homebuilders KB Home (NYSE: KBH) and Lennar Corp. (NYSE: LEN) as investors look for any sign that the housing sector has bottomed (home sales numbers are also due out this week; see below). Analysts surveyed by Thomson Financial anticipate that both companies will report that they narrowed their losses in the most recent quarter.

KB Home's expected $1.25 per share loss, on revenue of $725.5 million, compares to the previous quarter loss of $3.30 and to a year-ago loss of $6.19. However, KB Home's losses in the past few quarters have been deeper than expected. The Los Angeles-based homebuilder's long-range earnings growth forecast is 10.5%, less than the S&P 500. Analysts continue to recommend holding KB Home, and have for at least 120 days. Shares, however, reached a new 52-week high of $31.69 on Friday, and they are up 10.5% year to date.

Lennar is expected to post a loss of 52 cents per share, on revenue of $1.1 billion. That compares to the previous quarter's per-share loss of 76 cents and to a year-ago loss of $3.25. While Lennar also has tended in the past few quarters to miss expectations, the Miami-based company managed a positive surprise in the first quarter of 2008. Lennar's long-range earnings growth forecast is 10.3%, about the same as KB Home's. Analysts also recommend holding Lennar. Friday, shares of Lennar also reached a 52-week high, $27.75, but they are down 6.4% year to date.

Continue reading The week in preview: A bottom for the housing sector?

Analyst upgrades: Celera Genomics, Plantronics, Nymex

MOST NOTEWORTHY: Celera Genomics, Plantronics and Nymex were today's noteworthy upgrades:
  • JMP Securities upgraded Celera Group, Applera Corp. (NYSE: CRA) to Outperform from Market Perform, as they believe an announcement on the company's evaluation of its tracking stock could come as early as 1Q08, a split of Celera/Applied Biosystems could occur by FY08, and a new finding in a peer-review journal that predicts risk of coronary heart disease and statin benefit within the next six weeks.
  • Baird raised Plantronics (NYSE: PLT) to Outperform from Neutral based on valuation, strength in the Center and Office segment, and negative sentiment on Mobile revenues unwarranted.
  • Deutsche Bank upgraded shares of NYMEX (NYSE: NMX) to Buy from Hold and raised their target to $160 from $145 to reflect stabilized floor volumes, increased trading of commodities and acquisition potential consensus estimates that are too low. Deutsche named NMX their top exchange idea for 2008.
OTHER UPGRADES:

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 26, 2009: 11:53 PM

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