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Analyst upgrades 3-29-07: Berkshire Hathaway & Warner Music Group upgraded

MOST NOTEWORTHY: Warner Music Group Corp (WMG), Red Robin Gourmet Burgers, Inc (RRGB) and Berkshire Hathaway Inc (BRK.A) were some of today's notable upgrades:
OTHER UPGRADES:
  • UBS upgraded ARM Holdings plc (NASDAQ: ARMHY) to Buy from Neutral as the firm believes the company will be a significant beneficiary of the acceleration in 3G handset adoption in 2007.
  • Wachovia upgraded Pactiv Corp (NYSE: PTV) to Outperform from Market Perform on valuation.
  • O2Micro International Ltd (NASDAQ: OIIM) was upgraded to Buy from Neutral at Oppenheimer citing a possible near-term court settlement with Samsung, which provides significant earnings leverage.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Unsexy workhorses lead market rally

It's not only the fun tech stocks that are responsible for the markets' soaring heights. It may be fun to watch Google, Inc. (NASDAQ:GOOG) soar to $505 and Microsoft Corporation (NASDAQ:MSFT) inch to $30 per share, as it did yesterday and was rewarded by Credit Suisse with an upgrade from neutral to outperform. But there are plenty of less glamorous leaders driving the markets ever upwards.

As Alexandra Twin points out at CNNMoney.com, Allegheny Technologies, Inc. (NYSE:ATI), for example, is up a whopping 112% year-to-date. There's also a lot of strength in the steel sector, as Tom Taulli points out today with his post on the Oregon Steel Mills (NYSE:OS) deal.

Steel not boring enough? Pactiv Corp. (NYSE:PTV), the maker of Hefty trash bags and a variety of take-out containers, is up 52.3%. Now there's a social trend reflected in the markets!

Other market workhorses include OfficeMax, Inc. (NYSE:OMX) and Big Lots, Inc (NYSE: BIG) both up 93.2% in the 2006 S&P.

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: 02:43 AM

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