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Analyst upgrades: AIG, EAS and BRGYY

MOST NOTEWORTHY: American International Group, Energy East and BG Group Plc were today's noteworthy upgrades:
  • Citigroup upgraded shares of American International Group (NYSE:AIG) to Buy from Hold on valuation as they see limited downside at current levels. They believe the stock is "poised for over 35% upside in the next twelve months" and raised their target price to $42 from $41.
  • Jefferies raised Energy East (NYSE:EAS) to Hold from Underperform to reflect the growing pressure from politicians to influence the final NYPSC order in the merger approval proceeding. The firm raised their target price to $25.50 from $16.50.
  • Bernstein upgraded shares of BG Group (NASDAQ:BRGYY) to Outperform from Market Perform as they believe the company should benefit from the tightness in the global liquefied natural gas market.
OTHER UPGRADES:
  • Total SA (NYSE:TOT) was upgraded to Buy from Neutral at Goldman and added to the Conviction Buy List.
  • Wachovia lifted CarMax (NYSE:KMX) to Market Perform from Underperform.
  • Pike Electric (NYSE:PEC) was raised to Outperform from Market Perform at Friedman Billings.

Analyst upgrades 5-24-07: CSG, HNZ, IP, NYT and OVEN

MOST NOTEWORTHY: New York Times Co (NYT), New York Community Bancorp, Inc (NYB), Cadbury Schweppes plc (CSG), International Paper Co (IP) and TurboChef Technologies, Inc (OVEN) were today's noteworthy upgrades:
  • JP Morgan upgraded shares of the New York Times Co (NYSE: NYT) to Neutral from Underweight to reflect easier advertising sales comparisons the rest of the year and the possibility for a stepped-up buyback program.
  • Bernstein upgraded shares of Cadbury Schweppes (NYSE: CSG) to Outperform from Market Perform and revised its sum-of-the-parts and "real options" analysis. The firm still sees major upside and limited downside at these levels.
  • Matrix believes higher selling prices and lower costs are improving profit margins at International Paper (NYSE: IP).
OTHER UPGRADES:
  • Citigroup upgraded H.J. Heinz Co (NYSE: HNZ) to Buy from Hold with a $52 target.
  • Buckingham raised Eaton Corp (NYSE: ETN) to Strong Buy from Accumulate.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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Last updated: February 13, 2012: 12:07 PM

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