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Analyst upgrades 7-27-07: GPS, JWN, NYX and ODFL

MOST NOTEWORTHY: AU Optronics (AUO), RightNow Tech (RNOW), Alaska Air (ALK), Nordstrom (JWN), Gap (GPS) and Old Dominion Freight Line (ODFL) were today's noteworthy upgrades:
  • HSBC upgraded AU Optronics (NYSE: AUO) to Overweight from Neutral following the company's Q2 results.
  • Jefferies raised RightNow Technology (NASDAQ: RNOW) to Buy from Hold, believing low expectations have created a buying opportunity and that fundamentals remain intact.
  • JP Morgan upgraded shares of Alaska Air (NYSE: ALK) to Overweight from Netural on valuation.
  • Citigroup upgraded Nordstrom (NYSE: JWN) to Buy from Hold on valuation; they consider the recent pullback a buying opportunity.
  • Citigroup upgraded Gap (NYSE: GPS) to Buy from Hold from valuation and expects for better execution and cost savings in 2008 under the new CEO.
OTHER UPGRADES:
  • Merriman upgraded MicroTune (NASDAQ: TUNE) to Buy from Neutral.
  • Wachovia raised shares of Wendy's (NYSE: WEN) to Market Perform from Underperform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 1-25-07: L-1 Identity could lose contract, gets downgraded

MOST NOTEWORTHY: WCI Communications Inc (WCI) and L-1 Identity Solutions Inc (ID) topped today's list of downgrades:
  • JMP Securities downgraded shares of WCI Communications Inc (NYSE: WCI) to Underperform from Market Perform to reflect the negative Q4 pre-announcement and lower-than-expected traditional home net orders.
  • L-1 Identity Solutions Inc (NYSE: ID) was downgraded to Sell from Neutral at Oppenheimer, noting that the Transportation Security Administration is prepared to award the Transportation Worker Identification Card contract to Lockheed instead of L-1.

OTHER DOWNGRADES:
  • General Dynamics Corp (NYSE: GD) was downgraded to Hold from Buy by AG Edwards, citing valuation.
  • Matrix USA downgraded Microtune Inc (NASDAQ: TUNE) to Strong Sell from Sell on valuation.
  • Convergys Corp (NYSE: CVG) was downgraded to Sell from Hold, with a $22 target, based on valuation.
  • BancFirst Corp (NASDAQ: BANF) was downgraded to Underperform from Market Perform, with a $45 target, at Keefe Bruyette following the disappointing Q4 report.
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: 10:21 AM

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