Analyst Upgrades

• Goldman upgraded Reliance Steel (RS) to buy from neutral and The Buckle (BKE) to neutral from sell.
• RAM Energy (RAME) was upgraded to outperform from market perform at Rodman & Renshaw.
• RBC Capital upgraded H&E Equipment (HEES) and Cameco (CCJ) to outperform from sector perform, and Denison Mines (DNN) to sector perform from underperform.
• Alexandria Real Estate (ARE) was upgraded to overweight from neutral at JPMorgan.
• Investment Technology (ITG) was upgraded to outperform from neutral at Wedbush.

Continue reading Analyst Calls: AKS, BXP, CCJ, CXW, GBX, PETM, RIMM, RS, SIRI SOHU ...

Analyst Calls: AKS, BXP, CCJ, CXW, GBX, PETM, RIMM, RS, SIRI SOHU ... originally appeared on BloggingStocks on Tue, 09 Nov 2010 12:00:00 EST. Please see our terms for use of feeds.

In case you need to be reminded to look closely at the books, today's poster boy for erroneous ledgers, Bernie Maddoff, should be a constant reminder. Furthermore, when you are looking at the books, remember that Benjamin Graham, mentor to "my pal Warren," advised buying stocks for less than their intrinsic value. And book value is the starting point in attempting to establish that.

Two weeks ago, I posted an update on my toxic stock picks. These were six unloved stocks where I felt the stage was set for market beating returns. The same is true again for today's market-beating group, although it is not the headlines that tied this group together, but their standout bargain metrics.

Continue reading Chasing Value: Cheap Stocks by the Book

Chasing Value: Cheap Stocks by the Book originally appeared on BloggingStocks on Mon, 16 Aug 2010 12:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Soleil upgraded Starwood Hotels (HOT) to buy from hold, citing accelerating RevPAR comps and valuation. The firm upped its target for shares to $57 from $55.
• TD Newcrest upgraded Ivanhoe Mines (IVN) to speculative buy from hold based on valuation.
• BMO Capital upgraded Power Integrations (POWI) and ON Semiconductor (ONNN) to outperform from market perform based on valuation. The firm has a $45 target on Power Integrations and a $9 target on ON Semiconductor.
• Priceline.com (PCLN) was upgraded to buy from neutral at Goldman.
• Reliance Steel (RS) was upgraded to buy from neutral at UBS.
• AXA (AXA) was upgraded to add from neutral at WestLB.
  

Continue reading Analyst Calls: AXA, BHP, BYI, CAT, DWA, HOT, IVN, JPM, ONNN, PCLN ...

Analyst Calls: AXA, BHP, BYI, CAT, DWA, HOT, IVN, JPM, ONNN, PCLN ... originally appeared on BloggingStocks on Wed, 16 Jun 2010 12:30:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Deutsche Bank upgraded T. Rowe Price (TROW) to buy from hold due to valuation and solid core trends. The firm raised its target on shares to $57 from $55. Note the firm downgraded Franklin Resources to hold from buy (see below).
• KeyBanc upgraded U.S. Steel (X) to buy from hold based on stable domestic cost environment in 2010 and likelihood of sustained higher spot pricing. The firm has a $65 target on shares.
• Goldman upgraded Canadian Natural Resources (CNQ) to buy from neutral, citing oil leverage, sizable resource base and free cash flow. The firm raised its target to $90 from $88.
• Darden (DRI) was upgraded to buy from neutral at UBS.
• Carnival (CCL) was upgraded to overweight from neutral at JPMorgan.
• AmerisourceBergen (ABC) was upgraded to overweight from equal weight at Barclays.

Continue reading Analyst upgrades, downgrades and initiations: AXP, BBY, BEN, H, LLY, TROW, X ...

Analyst upgrades, downgrades and initiations: AXP, BBY, BEN, H, LLY, TROW, X ... originally appeared on BloggingStocks on Wed, 16 Dec 2009 11:50:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Wells Fargo upgraded Prudential (PRU) to outperform from market perform. The firm thinks the company is in a better position than its peers and will be able to more effectively exploit M&A opportunities.
• UBS upgraded Reliance Steel (RS) to buy from neutral based on potential growth through M&A and valuation. The firm raised its target to $50 from $49.
• Deutsche Bank upgraded Eastman Chemical (EMN) to buy from hold on expectations the company's portfolio transformation will drive higher normalized earnings power, which the firm believes is not fully reflected in consensus estimates. Deutsche raised its target price on shares to $70 from $62.
• Amylin Pharma (AMLN) was upgraded to overweight from equal weight at Barclays.
• Cephalon (CEPH) was upgraded to buy from hold at Jefferies.
• Acuity Brands (AYI) was upgraded to outperform from perform at Oppenheimer.

Continue reading Analyst upgrades, downgrades and initiations: BLK, CIEN, PCLN, PRU, RS, TIF, UNP ...

Analyst upgrades, downgrades and initiations: BLK, CIEN, PCLN, PRU, RS, TIF, UNP ... originally appeared on BloggingStocks on Tue, 24 Nov 2009 11:45:00 EST. Please see our terms for use of feeds.

• Citigroup upgraded Emergency Medical Services (NYSE: EMS) to Hold from Sell as it believes earnings estimates and valuation multiples could expand should Congress extend insurance coverage to the currently uninsured. The firm raised its target on shares to $38 from $29.
• JPMorgan upgraded Deutsche Bank (NYSE: DB) to Neutral from Underweight on expectations the company's fixed income business will drive earnings.
• KeyBanc expects U.S. Steel (NYSE: X) to benefit from a global recovery in flat-rolled products and a potential stabilization in energy end markets. The firm upgraded shares to Buy from Hold.
• Yahoo! (NASDAQ: YHOO) was upgraded to Buy from Hold at Soleil.
• Pinnacle Financial (NASDAQ: PNFP) was upgraded to Equal Weight from Underweight at Stephens.
• BP Plc (NYSE: BP) was raised to Buy from Hold at ING Group.

Continue reading Analyst upgrades, downgrades and initiations: BP, DB, NUE, TLB, X, YHOO ...

Analyst upgrades, downgrades and initiations: BP, DB, NUE, TLB, X, YHOO ... originally appeared on BloggingStocks on Wed, 10 Jun 2009 11:20:00 EST. Please see our terms for use of feeds.

• Citigroup upgraded Amazon.com (NASDAQ: AMZN) to Buy from Hold on expectations the company's top-line growth rate could be more sustainable than expected and its operating margins could recover given due to less retail discounting. The firm raised its price target on shares to $97 from $65.
  
• UBS upgraded King Pharmaceuticals (NYSE: KG) to Buy from Sell based on expectations that Sandoz will settle patent litigation regarding Skelaxin after last weeks settlement of Clarinex with Schering-Plough (SGP).
  
• Jefferies upgraded Reliance Steel (NYSE: RS) to Buy from Hold as it believes steel prices and demand are close to near-term bottoms. The firm raised its target on the stock to $44 from $25.
• Palm (NASDAQ: PALM) was raised to Buy from Neutral at Banc of America/Merrill.
  
• Nestle (OTC: NSRGY) was lifted to Neutral from Underweight at JP Morgan.
• Johnson & Johnson (NYSE: JNJ) was upgraded at Wachovia to Outperform from Market Perform.

Continue reading Analyst upgrades, downgrades and initiations: AMZN, RS, JNJ, NFLX ...

Analyst upgrades, downgrades and initiations: AMZN, RS, JNJ, NFLX ... originally appeared on BloggingStocks on Mon, 20 Apr 2009 12:00:00 EST. Please see our terms for use of feeds.

Among all the negative economic data that came out last week was a positive surprise: retail sales were higher in January. A fluke or a glimmer at the end of the tunnel? That may depend on whether we see any positive surprises arising from items on this week's economic calendar:

• Consumer Analyst Group of New York Conference: Monday through Friday
• NY Empire Manufacturing Index (Feb. 2009): Tuesday, 8:30 AM
• NAHB Housing Market Index (Feb. 2009): Tuesday, 1:00 PM
• Fed's Bullard speaks before National Association of Business Economists: Tuesday, 1:00 PM
• Housing starts (Jan. 2009): Wednesday, 8:30 AM
• Fed's Pianalto speaks before Commercial Developers Power Breakfast: Wednesday, 9:00 AM
• Industrial production (Jan. 2009): Wednesday, 9:15 AM
• Fed's Bernanke speaks before National Press Club Luncheon: Wednesday, 12:30 PM

Continue reading The week in preview: A glimmer at the end of the tunnel?

The week in preview: A glimmer at the end of the tunnel? originally appeared on BloggingStocks on Sun, 15 Feb 2009 12:30:00 EST. Please see our terms for use of feeds.

Continue reading Chasing Value: 2008 picks -- the last nail

Chasing Value: 2008 picks -- the last nail originally appeared on BloggingStocks on Mon, 12 Jan 2009 15:00:00 EST. Please see our terms for use of feeds.

In his Validea newsletter, John reese explains, "Benjamin Graham -- considered the greatest investment guru by Warren Buffett -- built his reputation by using an extremely conservative, low-risk approach to investing." Buffett, incidentally, was Ben Graham's student.

Reese continues, "To Graham, preserving one's original capital was every bit as important as netting big gains. Having lived through the 1929 market crash, it's no surprise that the strategy Graham laid out in his classic book The Intelligent Investor was a conservative, loss-averse approach.

"To Graham, an investment wasn't something that could be turned into quick, easy profits; anything that offers such 'easy' rewards also comes with substantial risk, and Graham abhorred risk. In terms of specifics, Graham's approach limited risk in a number of ways, and my Graham-based model lays out several of those methods.

Continue reading Top 10 Benjamin Graham value plays: Men's Wearhouse, Carlisle, Movado and Scholastic make the grade

Top 10 Benjamin Graham value plays: Men's Wearhouse, Carlisle, Movado and Scholastic make the grade originally appeared on BloggingStocks on Fri, 24 Oct 2008 12:50:00 EST. Please see our terms for use of feeds.

After seven months of tracking my 2008 picks -- Wham! -- I went from beating the indices and Berkshire Hathaway (NYSE: BRK.B) to being humbled by the market. However difficult it is to display your failings, once again I will share all. This is the low point since I posted the original story Chasing Value: Final list -- 8 stocks for 2008.

Only Reliance Steel & Aluminum (NYSE: RS) remained in positive territory, down from five stocks that were up in the last report. Sometimes, the reasons for the downslide were more obvious than they were in the cases for my picks. The cutting in half of Valero Energy Corporation (NYSE: VLO) has been reported often, as the largest independent oil refiner in North America has had its profit margins squeezed.

Loews Corporation (NYSE: L) has been hurt by its insurance interests and helped by its holdings -- a 51% stake in Diamond Offshore Drilling, Inc. (NYSE: DO) that has been doing well as the world remains desperate for more oil and natural gas.

The gap between the Dow Jones Industrial Average, Standard & Poor's 500 Index and the technology heavy NASDAQ Composite Index is narrower than in the past.

Continue reading Chasing Value: 8 stocks for 2008 -- June/July, that sinking feeling

Chasing Value: 8 stocks for 2008 -- June/July, that sinking feeling originally appeared on BloggingStocks on Thu, 14 Aug 2008 12:30:00 EST. Please see our terms for use of feeds.

If you were looking for help from the economic front or from the oil patch today to help out the market, that wasn't in the cards. Home prices plunged by a record 15.3% from may 2007 to May 2008. Consumer confidence also came in at a 16-year low. From bottom to top to bottom we had more than a 150 point trading range in the DJIA today. These are the unofficial closing levels:

• DJIA 11810.04 (-32.89)
• S&P 500 1314.54 (-3.46)
• NASDAQ 2368.28 (-17.46)
• 10YR T-Note 4.105% (-0.063%)
• 52-week lows
• Top 10 Analyst Calls

Eastman Kodak Co. (NYSE: EK) saw a sharp rise with shares up 15% at $4.20 late in the day after the company announced a large IRS refund and a $1 billion buyback to retire close to half of its stock.

Eli Lilly & Co. (NYSE: LLY) hit the 52-week low list and a multi-year low earlier today before recovering list after the FDA delayed a decision on its anti-clot blood thinning drug, with shares down some 1.5% at $46.87 in the final minutes today.

Kroger Co. (NYSE: KR) saw shares rise a sharp 7% with shares at $27.88 in the final minutes today after the company raised guidance.

Reliance Steel (NYSE: RS) saw shares up after the company raised its own guidance again. Its shares were only up 0.5% at $73.85 in the final minutes of the trading day. Shares were up over 5% at the start.

United Parcel Service Inc. (NYSE: UPS) saw a drop after the company came clean and fessed up that high fuel prices and low demand for premium delivery services were hurting business domestically and abroad. Shares were down 6% at $62.26 late in the day.

Closing bell: Bulls lose their way as Bears win out today originally appeared on BloggingStocks on Tue, 24 Jun 2008 16:51:00 EST. Please see our terms for use of feeds.

Platinum Equity focuses primarily on buying non-core assets from major companies. It's complex stuff but the firm has built a strong system to facilitate deals, such as with transition plans, long-term strategies, HR and so on.

And it's paying off. This week Platinum Equity sold PNA Group Holding to Reliance Steel & Aluminum Co. (NYSE: RS) for about $1.1 billion.

Keep in mind that Platinum picked up PNA in 2006 for a cheap $17.5 million. What's more, the firm was able to recap the company and take out a special dividend for $181 million last year.

Continue reading Platinum Equity's golden deal

Platinum Equity's golden deal originally appeared on BloggingStocks on Wed, 18 Jun 2008 15:30:00 EST. Please see our terms for use of feeds.

• Appliances
• Aviation
• Consumer Electronics
• Electrical Distribution
• Energy
• Finance - Business
• Finance - Consumer
• Health-care
• Lighting
• Media & Entertainment
• Oil & Gas
• Rail
• Security
• Water

Continue reading Serious Money: GE should focus on water and power

Serious Money: GE should focus on water and power originally appeared on BloggingStocks on Thu, 12 Jun 2008 15:40:00 EST. Please see our terms for use of feeds.

After five months of tracking my 2008 picks, it is rewarding to finally have a breakthrough -- topping the three major stock indices and Berkshire Hathaway (NYSE: BRK.B) too. It has been painful to have to report each month that I was being bested. However, since I have not seen anything contradicting my original rationale for my eight picks I stood my ground.

This past month saw great improvement. For the first time since I posted the original story Chasing Value: Final list -- 8 stocks for 2008, five of the eight stocks are up:

Moving into positive territory by pennies was Loews Corporation (NYSE: LTR). Among its holdings is a 51% stake in Diamond Offshore Drilling, Inc. (NYSE: DO) that has been doing well as the world remains desperate for more oil and natural gas.

Bunge Limited (NYSE: BG) was the other stock to cross the line into the black, while Valero Energy Corp. (NYSE: VLO), although improving, remains my worst performer. It is still down almost 28% after five months.

The gap between the Dow Jones Industrial Average, Standard & Poor's 500 Index and the technology heavy NASDAQ Composite Index narrowed substantially so that the three are tracking each other very closely. Stocks like Apple, Inc (NASDAQ: AAPL) and Google Inc. (NASDAQ: GOOG) continue to gain significantly and their outlooks have not been shaken amid overall pessimistic economic forecasts.

Continue reading Chasing Value: 8 stocks for 2008 -- May beats all

Chasing Value: 8 stocks for 2008 -- May beats all originally appeared on BloggingStocks on Mon, 02 Jun 2008 13:01:00 EST. Please see our terms for use of feeds.

Today was a very gloomy day in the stock market with Oil reaching new highs and everything else losing -- almost. Among the few winners, and I mean very few, Apple Inc. (NASDAQ: AAPL), oil, and specialty steel were up. I went through my watch list and found this very short list of winners:

Anadarko Petroleum (NYSE: APC) $78.49, up +$0.95 or 1.23%

Apple Inc (NASDAQ: AAPL) $185.90, up +$2.30 or 1.25%

Halliburton (NYSE: HAL) $49.92, +$0.85 up +$1.73%

Precision Drilling TR (NYSE: PDS) $27.90, up $1.13, or 4.22%

Reliance Steel and Aluminum (NYSE: RS) $67.37, +0.$52, or 0.78%

Valero Energy (NYSE: VLO) $50.12, up +$0.43 or 0.87%

Continue reading Apple, Oil, & Steel were rays of light on gloomy market day

Apple, Oil, & Steel were rays of light on gloomy market day originally appeared on BloggingStocks on Tue, 20 May 2008 20:15:00 EST. Please see our terms for use of feeds.

Continue reading With Reliance Steel, customizing is the key

With Reliance Steel, customizing is the key originally appeared on BloggingStocks on Mon, 19 May 2008 18:15:00 EST. Please see our terms for use of feeds.

This month saw great improvement after last month's disaster. Having to conclude my findings on a specific month end day, or any day, depending on the news, sometimes distorts results. For example news on March 31 sent the market down and on April first my picks shot up an unusual amount; hopefully the trend will continue.

My riskiest stock pick Newcastle Investment Corp (NYSE: NCT) was down the most in March but recovered about 35% of the loss in April leaving Valero Energy Corp. (NYSE: VLO) the dubious honor of being my worst performer, down over 30% in the first four months of the year.

April showed improvement as many companies reported positive earnings reports or beat expectations.

The Dow Jones Industrial Average gained some ground in April as did the Standard & Poor's 500 Index, and the technology heavy NASDAQ Composite Index was up with stocks like Apple, Inc (NASDAQ: AAPL) and Google Inc. (NASDAQ: GOOG) improving significantly on very strong reports. Google is up over 25%.

Most of my picks improved. Higher food prices no doubt helped Bunge Limited (NYSE: BG) which recaptured losses moving up 23% from its recent bottom. My two winners Raytheon Co. (NYSE: RTN), the high tech defense contractor, and Reliance Steel & Aluminum (NYSE: RS) were joined by a third, Anglo American plc (ADR) (NASDAQ: AAUK) which had a 10% swing entering positive territory.

Continue reading Chasing Value: 8 stocks for 2008 -- April Bunge's back

Chasing Value: 8 stocks for 2008 -- April Bunge's back originally appeared on BloggingStocks on Thu, 01 May 2008 15:58:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Abbott Laboratories Inc. (NYSE: ABT) first-quarter profit soared on overseas demand for Humira.
• Advanced Micro Devices Inc. (NYSE: AMD) posted a bigger-than-expected loss, its sixth straight.
• Coca-Cola Co. (NYSE: KO) posted better-than-expected first-quarter results on strength overseas.
• CSX Corp. (NYSE: CSX) first-quarter profit soared on strong demand for grain, ethanol, and coal.
• eBay Inc. (NASDAQ: EBAY) beat first-quarter expectations but the outlook was uninspiring.
• Google Inc. (NASDAQ: GOOG) first-quarter profit soared 42%, beating Wall Street estimates.
• Intel Corp. (NASDAQ: INTC) first-quarter earnings slipped but exceeded expectations.
• Intuitive Surgical Inc. (NASDAQ: ISRG) beat first-quarter estimates and offered a disappointing outlook.
• J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) missed first-quarter estimates on rising fuel prices.
• Nokia Corp. (NYSE: NOK) first-quarter profit missed expectations and it warned of a coming decline.
• Pfizer Inc. (NYSE: PFE) first-quarter profits fell and missed analysts' expectations.
• Reliance Steel & Aluminum Co. (NYSE: RS) lowered its second-quarter outlook.
• Royal Philips Electronics posted a bigger-than-expected fall in profit on weak North America TV sales.
• Wolverine World Wide Inc. (NYSE: WWW) beat earnings estimates but shareholders were not impressed.
• Xerox Corp. (NYSE: XRX) posted a first-quarter loss that matched analysts' estimates.

Continue reading Earnings highlights: Google, Intel, Coca-Cola, Pfizer, eBay, AMD and others

Earnings highlights: Google, Intel, Coca-Cola, Pfizer, eBay, AMD and others originally appeared on BloggingStocks on Sun, 20 Apr 2008 10:10:00 EST. Please see our terms for use of feeds.

Reliance Steel (RS) drops on lower Q2 guidance originally appeared on BloggingStocks on Thu, 17 Apr 2008 13:46:00 EST. Please see our terms for use of feeds.