MOST NOTEWORTHY: JP Morgan Chase (JPM), Symantec (SYMC), Advanced Micro Devices (AMD), Nvidia (NVDA) and SVB Financial Group (SIVB) were today's more notable upgrades:
- Keefe Bruyette upgraded JP Morgan Chase (NYSE: JPM) to Outperform from Market Perform based on valuation and superior execution.
- Symantec Corp (NASDAQ: SYMC) was raised to Outperform from Neutral at Baird as they believe integration issues from Veritas (CGV) are behind the company and expectations that shares will benefit from investments made during the past two years.
- Stifel upgraded Advanced Micro Devices (NYSE: AMD) to Short-Term Trading Buy from Neutral and recommends buying shares of AMD ahead of the Q2 report given market stabilization, the seasonally stronger 2H, and any positive commentary during the call that may be enough to encourage renewed investor interest.
- Lehman upgraded Nvidia (NASDAQ: NVDA) to Overweight from Equal Weight citing checks that indicate a strong product cycles & shares gains in notebooks, improving seasonal demand, and new product traction.
- Citigroup upgraded shares of SVB Financial (NASDAQ: SIVB) to Hold from Sell to reflect less earnings volatility due to more later-stage customers and growing funds management...
OTHER UPGRADES:
- Citigroup upgraded MBIA Inc (NYSE: MBI) to Buy from Hold.
- Banc of America upgraded Sybase (NYSE: SY) to Buy from Neutral.
- Lehman raised Swisscom (NYSE: SCM) to Overweight from Equal Weight.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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