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Analyst upgrades: CLWR, CTXS, MO, OSTK and IPG

MOST NOTEWORTHY: Clearwire, Citrix Systems, Altria Group, Overstock.com and Interpublic Group were today's noteworthy upgrades:
  • Jefferies upgraded shares of Clearwire Corporation (NASDAQ: CLWR) to Buy from Hold on valuation as they believe the stock is trading as if the Sprint Nextel Corporation (NYSE: S) deal is off. Jefferies thinks the Sprint/Clearwire deal is still in the best interest of both companies.
  • Deutsche Bank upgraded shares of Citrix Systems (NASDAQ: CTXS) to Buy from Hold, as they believe the contribution from XenSource beginning in Q4 could be better than expected.
  • UBS upgraded shares of Altria Group (NYSE: MO) citing stronger Q3 International results and potential share repurchases. Shares were upgraded to Buy from Neutral.
  • Piper Jaffray raised shares of Overstock.com (NASDAQ: OSTK) to Market Perform from Underperform, as they are incrementally more positive on shares following the company's Q3 upside. They believe the company has turned the corner on profitability.
  • Bear Stearns upgraded shares of Interpublic Group (NYSE: IPG) to Outperform from Peer Perform on valuation and expectations for improved performance in 2008.
OTHER UPGRADES:

Symbol Lookup
IndexesChangePrice
DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 12, 2009: 07:41 AM

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