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Analyst upgrades: Countrywide Financial, AstraZeneca, Massey Energy, International Coal

MOST NOTEWORTHY: Countrywide Financial, AstraZeneca, Massey Energy and International Coal were today's noteworthy upgrades:
  • Wachovia upgraded Countrywide (NYSE: CFC) to Market Perform from Underperform, as they do not expect any other bidders to emerge and for the acquisition by Bank of America (NYSE: BAC) to close.
  • HSBC upgraded AstraZeneca (NYSE: AZN) to Overweight from Neutral on valuation and their belief that an agreement with Ranbaxy on Nexium is possible.
  • Massey Energy (NYSE: MEE) and International Coal (NYSE: ICO) were upgraded to Neutral from Underweight at JP Morgan citing higher coal price forecasts.
OTHER UPGRADES:

Analyst initiations 7-05-07: CSUN, HLCS and ORCL

MOST NOTEWORTHY: Oracle Corp (ORCL), Helicos BioSciences (HLCS), Clean Energy Fuels (CLNE) and China Sunergy (CSUN) topped today's noteworthy initiations:
  • JP Morgan initiated Helicos BioSciences (NASDAQ: HLCS) with a Neutral rating based on the potential of its single-molecule genetic sequencing platform but noted that commercialization carries near-term risk.
  • Hambrecht believes Clean Energy Fuels' (NASDAQ: CLNE) total addressable market is over $20B given the company's focus on natural gas vehicle fuel for return-to-base applications and started shares with a Buy rating.
  • Jefferies wants to see China Sunergy (NASDAQ: CSUN) demonstrate that its silicon wafer suppliers can meet aggressive ramping plans before becoming more positive on the stock, starting shares off with a Hold rating...
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 11, 2012: 01:43 AM

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