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.

• Deutsche Bank upgraded Spartech (NYSE: SEH) to Buy from Hold as it sees further upside following the company's "strong" Q2 results. The firm raised its target on shares to $10 from $2.50.
• Oppenheimer upgraded Clorox (NYSE: CLX) to Outperform from Underperform. The firm believes the company's FY10 outlook is conservative, providing room for upside, and that the valuation is compelling at current levels. Opco set a $70 price target on the stock.
• Goldman upgraded Steel Dynamics (NASDAQ: STLD) to Buy from Neutral and raised its target to $20 from $16, citing reduced balance sheet concerns following the capital raise. Note that AK Steel (NYSE: AKS) was downgraded to Neutral from Buy.
• PG&E (NYSE: PCG) was upgraded to Buy from Hold at Citigroup.
• Pool Corp. (NASDAQ: POOL) was upgraded to Outperform from Market Perform at William Blair.
• Liberty Property Trust (NYSE: LRY) was upgraded to Outperform from Market Perform at Wachovia.

Continue reading Analyst upgrades, downgrades and initiations: CLX, ED, JBHT, HMC, PCG ...

Analyst upgrades, downgrades and initiations: CLX, ED, JBHT, HMC, PCG ... originally appeared on BloggingStocks on Fri, 12 Jun 2009 11:20:00 EST. Please see our terms for use of feeds.

• Goldman upgraded Gerdau AmeriSteel (NYSE: GNA) to Buy from Neutral and has a $5.50 target on shares. Shares were upgraded due to the potential impact from infrastructure spending. Note that Goldman downgraded Steel Dynamics (NYSE: STLD) and Olympic Steel (NYSE: ZEUS) to Neutral from Buy.
  
• Banc of America/Merrill upgraded Coca-Cola Enterprises (NYSE: CCE) to Buy from Neutral and raised the price target to $18 from $15. The firm the strong Q1 report gives them greater confidence in shares.
  
• Roth Capital upgraded Halozyme (NASDAQ: HALO) to Buy from Hold due to increased clarity into Roche programs, the discontinuation of the chemophase program, and progress on insulin delivery.
• American Movil (NYSE: AMX) was raised to Overweight from Neutral at JP Morgan and to Hold from Sell at Citigroup.
  
• Barclays (NYSE: BCS) and Lloyds TSB Group (NYSE: LYG) were upgraded at HSBC to Overweight from Neutral.

Continue reading Analyst upgrades, downgrades and initiations: GNA, CCE, BCS, SFD, TRI ...

Analyst upgrades, downgrades and initiations: GNA, CCE, BCS, SFD, TRI ... originally appeared on BloggingStocks on Wed, 29 Apr 2009 11:30:00 EST. Please see our terms for use of feeds.

• Jefferies upgraded Xilinx (NASDAQ: XLNX) to Buy from Hold and raised its target to $22 from $17 on valuation and the company's "diversified" business.
  
• Barclays expects Steel Dynamics (NASDAQ: STLD) to outperform in Q1 as investors become more comfortable with the company's balance sheet. Shares were upgraded to Overweight from Equal Weight.
  
• Keefe Bruyette upgraded Asset Acceptance (NASDAQ: AACC) to Market Perform from Underperform on valuation but lowered their target to $6 from $8.
• Blackrock (NYSE: BLK) and Intercontinental Exchange (NYSE: ICE) were added to Goldman's Conviction Buy List.
  
• Lattice (NASDAQ: LSCC) was upgraded to Equal Weight from Underweight at Morgan Stanley.

Continue reading Analyst calls: XLNX, STLD, ICE, NYX, MT, JOYG, CME, LLL, AAPL, ENR ...

Analyst calls: XLNX, STLD, ICE, NYX, MT, JOYG, CME, LLL, AAPL, ENR ... originally appeared on BloggingStocks on Thu, 18 Dec 2008 11:41:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Jefferies upgraded shares of Genentech (NYSE: DNA) to Buy from Hold and raised its target to $100 from $95 on increased likelihood of an acquisition after Roche (OTC: RHHBY) reaffirmed commitment to its $100/share offer.
  
• Baird expects Broadcom (NASDAQ: BRCM) to gain market share in 2009 in mobile phones, IPTVs, and digital TVs. Shares were upgraded to Outperform from Neutral.
  
• Keefe Bruyette upgraded shares of Torchmark (NYSE: TMK) to Outperform from Market Perform as they see limited earnings risk and an attractive risk/reward.
• Apple (NASDAQ: AAPL) was raised to Buy from Add at Calyon.
  
• Tellabs (NASDAQ: TLAB) was upgraded to Buy from Neutral at UBS and to Hold from Underperform at Jefferies.
  
• Goldman upgraded AK Steel (NYSE: AKS) to Neutral from Sell and Steel Dynamics (NASDAQ: STLD) to Buy from Neutral.

Analyst downgrades:

Continue reading Analyst calls: AAPL, BA, BRCM, MGM, LNC, AEO . . .

Analyst calls: AAPL, BA, BRCM, MGM, LNC, AEO . . . originally appeared on BloggingStocks on Wed, 22 Oct 2008 12:05:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Jefferies upgraded shares of Safeway (NYSE: SWY) to Hold from Underperform on valuation as they believe the company's pricing pressure and sluggish sales trends are now priced in. The firm raised its target to $23.50 from $21.
  
• Merrill upgraded Pfizer (NYSE: PFE) to Buy from Underperform citing attractive dividend yield and stabilizing businesses.
  
• Banc of America upgraded shares of Apollo Group (NASDAQ: APOL) to Neutral from Sell and raised APOL's target to $60 from $48 on valuation as they see a balanced risk/reward at current levels.
• Nucor (NYSE: NUE) was raised to Overweight from Equal Weight at Morgan Stanley.
  
• Citrix Systems (NASDAQ: CTXS) and Symantec (NASDAQ: SYMC) were upgraded to Overweight from Neutral at JP Morgan.
  
• Keefe Bruyette upgraded Jefferies Group (NYSE: JEF) and Bank of America (NYSE: BAC) to Market Perform from Underperform.

Analyst downgrades:

Continue reading Analyst calls: GM, F, BAC, PFE, APOL, SYMC . . .

Analyst calls: GM, F, BAC, PFE, APOL, SYMC . . . originally appeared on BloggingStocks on Wed, 08 Oct 2008 11:50:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Oppenheimer upgraded shares of Shanda Interactive (NASDAQ: SNDA) to Outperform from Perform following the company's better-than-expected quarter to reflect its growth acceleration in the casual games platform and margin improvements.
  
• SAIC (NYSE: SAI) was upgraded to Outperform from Market Perform following the solid Q2 report and guidance.
  
• Susquehanna upgraded Zumiez (NASDAQ: ZUMZ) to Positive from Neutral citing positive August comps, revised merchandising, easier comps, and solid financial position.
• Goldman Sachs upgraded Pharm Product Development (NASDAQ: PPDI) and Steel Dynamics (NASDAQ: STLD) to Buy from Neutral.
  
• Novellus (NASDAQ: NVLS) was raised to Overweight from Equal Weight at Morgan Stanley.

• Morgan Stanley downgraded the Semiconductor Capital Equipment sector to In-Line from Attractive citing optimistic expectations for Q4 orders following the recent bounce in stocks. The firm downgraded Lam Research (NASDAQ: LRCX) to Underweight from Overweight and KLA-Tencor (NASDAQ: KLAC) KLAC to Equal Weight from Overweight.

Continue reading Analyst calls: SAI, KLAC, QCOM, MRVL, UL, CMG, HPQ, AAPL, DELL ...

Analyst calls: SAI, KLAC, QCOM, MRVL, UL, CMG, HPQ, AAPL, DELL ... originally appeared on BloggingStocks on Thu, 04 Sep 2008 11:25:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• UBS upgraded Steel Dynamics (NASDAQ: STLD) and Nucor (NYSE: NUE) to Buy from Neutral and added them to their Short-Term Buy list citing oversold valuations and the belief that both will beat Q2 Street estimates and guide higher.
• Dresdner Kleinwort upgraded shares of Nokia (NYSE: NOK) to Buy from Add as they believe the company's second half of the year looks strong due to new product launches.
  
• Merrill Lynch upgraded Wachovia (NYSE: WB) to Neutral from Underperform on valuation as they believe credit headwinds are priced into the stock at current levels. Merrill also thinks WB would make a "good fit" for JP Morgan (JPM) and puts a realistic acquisition value on the company of $16-$20 per share.

• Verisign (NASDAQ: VRSN) was upgraded at Baird to Outperform from Neutral.
  
• Lehman upgraded Penn Virginia (NYSE: PVG) to Overweight from Equal Weight.
  
• Piper raised SGX Pharmaceuticals (NASDAQ: SGXP) to Neutral from Sell.

Analyst upgrades: Steel Dynamics, Nucor, Nokia, Wachovia originally appeared on BloggingStocks on Wed, 09 Jul 2008 12:08:00 EST. Please see our terms for use of feeds.

Steel Dynamics (NASDAQ: STLD) is the fifth largest producer of carbon steel products in the United States. The firm operates five mid-western electric-furnace mini-mills, producing merchant bars, engineered bar products, wide-flange beams, rails, and flat-rolled steels. It also runs six fabrication facilities, making joists, girders, and decking for non-residential construction projects. Steel scrap is processed at 42 locations in the eastern U.S. and Canada. Nucor (NYSE: NUE) and U. S. Steel (NYSE: X) are major competitors.

The company raised its second quarter outlook last week, citing "stronger than anticipated shipping volume and selling values for flat-rolled steel products and stronger volume and margins in recycling." Management predicted Q2 EPS of 90-95 cents (80-90 cent prior estimate, 89 cent Street consensus).

Continue reading Steel Dynamics (STLD): Share price defines bullish 'flag'

Steel Dynamics (STLD): Share price defines bullish 'flag' originally appeared on BloggingStocks on Wed, 18 Jun 2008 11:15:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• JP Morgan initiated EV3 (NASDAQ: EVVV) with a Neutral rating. The firm sees risk to guidance and finds it too early to recommend the stock.
  
• Steel Dynamics (NASDAQ: STLD) was assumed with an Overweight rating at Morgan Stanley.
  
• Lehman initiated Sonic (NASDAQ: SONC) with an Overweight rating.

• HSBC initiated Rostelecom (NYSE: ROS) with an Underweight rating and $36.50 target.
  
• Keefe Bruyette assumed German American Bancorp (NASDAQ: GABC) with a Market Perform rating and $13 target.
  
• JP Morgan initiated Perdigao (NYSE: PDA) with an Overweight rating.

Analyst initiations: EVVV, STLD and SONC originally appeared on BloggingStocks on Mon, 07 Apr 2008 12:02:00 EST. Please see our terms for use of feeds.

Steel Dynamics (NASDAQ: STLD) is the fifth largest producer of carbon steel products in the United States. The firm operates five mid-western electric-furnace mini-mills, producing merchant bars, engineered bar products, wide-flange beams, rails, and flat-rolled steels. It also runs six fabrication facilities, making joists, girders, and decking for non-residential construction projects. Steel scrap is processed at 42 locations in the eastern U.S. and Canada. Nucor (NYSE: NUE) and U. S. Steel (NYSE: X) are major competitors.

The company raised its first quarter and fiscal year outlooks last week, citing higher than anticipated flat rolled steel pricing and improved scrap processing. Management predicted Q1 EPS of $1.25-$1.30, versus Street consensus of $1.18. It also expected FY08 EPS of $5.25-$5.75, versus consensus of $5.35.

Continue reading Steel Dynamics (STLD): Share price cycling in bullish 'flag' pattern

Steel Dynamics (STLD): Share price cycling in bullish 'flag' pattern originally appeared on BloggingStocks on Mon, 17 Mar 2008 11:40:00 EST. Please see our terms for use of feeds.

With Steel Dynamics, you can still root for the U.S. steel industry originally appeared on BloggingStocks on Thu, 13 Mar 2008 08:26:00 EST. Please see our terms for use of feeds.

Continue reading What bear market? Ten stocks making new highs

What bear market? Ten stocks making new highs originally appeared on BloggingStocks on Thu, 06 Mar 2008 11:58:00 EST. Please see our terms for use of feeds.

Steel Dynamics (STLD) raises forecast and boosts steel-makers originally appeared on BloggingStocks on Thu, 18 Oct 2007 13:48:00 EST. Please see our terms for use of feeds.

A lot has been written about Steel Dynamics Inc. (NASDAQ: STLD) the growing "mini-mill" located in Fort-Wayne Indiana. In the last year it reported sales growth of 48% and many think it is still a bargain at Thursday's closing price of $41.28. I have been watching it for a couple of months and thought it makes for an interesting story.

Continue reading Chasing Value: Dynamic analysts go both ways on Steel Dynamics Inc. (STLD)

Chasing Value: Dynamic analysts go both ways on Steel Dynamics Inc. (STLD) originally appeared on BloggingStocks on Fri, 24 Aug 2007 15:25:00 EST. Please see our terms for use of feeds.

Last December, over 100 stocks were featured in our Top Picks for 2007 report. Now, at mid-year, we turn to the 20 advisors whose picks showed the strongest gains to get an update on their previous picks, as well as a new favorite stock for the second half of the year.

Neil Macneale, editor of 2 for 1 (a newsletter focused exclusively on stocks that have announced stock splits), chose two stocks in the Top Picks for 2007 report, and both picks qualified him for our Top 20 Advisors. His previous selections were Chaparrel Steel Co. (NASDAQ: CHAP) and Steel Dynamics Inc. (NASDAQ: STLD).

As of June 1, 2007, Steel Dynamics has risen 49%. while Chapparel had scored a gain of 67%. Here is Neil's original recommendation for these issues.

Updating his outlook on these steel stock, he now says, "This rate of return cannot continue forever, but there is every reason to believe these remain good stocks to own.

"Steel should continue to perform, given the strength of the economy, even without a strong housing market. As the housing market improves, steel should get even stronger. In both cases, fundamentals for these companies remain strong and the stocks still sell at a discount to their peers."

Continue reading Top 20 advisors: Neil Macneale opts for steel and engines

Top 20 advisors: Neil Macneale opts for steel and engines originally appeared on BloggingStocks on Thu, 21 Jun 2007 15:10:00 EST. Please see our terms for use of feeds.

• PennantPark Investment Corp. (NASDAQ: PNNT) was initiated with a Buy rating and $17 target at Jefferies. The finds shares compelling given the potential dividend growth and book multiple expansion. PennantPark was also initiated at Keefe Bruyette with an Outperform rating and $18 target, at Banc of America with a Buy rating and $16 target and at Friedman Billings with an Outperform rating and $17 target.
• Delta Air Lines Inc. (NYSE: DAL) was initiated at Bear Stearns with a Peer Perform rating and at Cathay Financial with an Outperform rating.
• Banc of America initiated RenaissanceRe Holdings Ltd. (NYSE: RNR) with a Buy rating and Montpelier Re Holdings Ltd. (NYSE: MRH) and IPC Holdings Ltd. (NASDAQ: IPCR) with Neutral ratings.

• Dell Inc. (NASDAQ: DELL) was initiated with a Hold rating and $24 target at Soleil.
• Robert W. Baird initiated Avery Dennison Corp. (NYSE: AVY) with an Outperform rating.
• Steel Dynamics Inc. (NASDAQ: STLD) was initiated with a Buy rating and $58 target at Citigroup.
• Nollenberger initiated Lakes Entertainment Inc. (NASDAQ: LACO), MTR Gaming (NASDAQ: MNTG) and Full House Resorts (NYSE: FLL) with Buy ratings and Monarch Casino (NASDAQ: MCRI) with a Neutral rating.

Analyst initiations 5-30-07: Delta Air Lines, Dell initiated originally appeared on BloggingStocks on Wed, 30 May 2007 11:38:00 EST. Please see our terms for use of feeds.

The world steel industry is in a state of flux. Unsurprisingly, the winning firms are those best able to achieve and maintain attractive measures of efficiency, management effectiveness, profitability, growth and valuation. A Fort Wayne, Indiana steel maker is consistently among those generating solid parameters.

Steel Dynamics (NASDAQ:STLD) is the fifth largest producer of carbon steel products in the United States, with annual shipments of 4.7 million tons. The firm operates five mid-western electric-furnace mini-mills, producing merchant bars, engineered bar products, wide-flange beams, rails and flat-rolled steels. Its fabrication operation makes joists, girders, and decking for non-residential construction projects. Last week, the company reached an agreement to purchase two privately owned metals recycling facilities in eastern Tennessee.

STLD shares popped late last month, in response to the United States Steel (NYSE:X) agreement to purchase tubular steel manufacturer Lone Star Technologies (NYSE:LSS). The steel industry is in the midst of an active round of consolidation moves and the U.S. Steel announcement re-energized speculation of further acquisitions. Most analysts consider Steel Dynamics to be one of the more attractive takeover targets. UBS subsequently upgraded the shares to "buy", citing near-term benefits from higher sheet prices and long-term growth prospects. The STLD price is now consolidating the gain in a bullish "flag" pattern. Stocks frequently exit flags moving in the same direction they were traveling when they entered them. In this case, that would be to the upside.

Altogether, brokers recommend the issue with two "strong buys", two "buys" and six "holds". The STLD P/E ratio (11.62), PEG ratio (1.16), Price to Sales ratio (1.46), Price to Book ratio (3.45), Price to Cash Flow ratio (9.23), Sales Growth rate (47.43%), EPS Growth rate (57.50%), Operating Margin (20.35%), Return on Assets (19.81%), Return on Investment (23.37%), Return on Equity (37.59%), Revenue per Employee ($928k) and Net Income per Employee ($114k) compare favorably with industry, sector and S&P 500 averages.

Institutions own about 87 percent of the outstanding shares. The stock is one of those used to calculate the S&P 400 MidCap Index. Over the past 52 weeks, it has traded between $22.58 and $44.62. A stop-loss of $38.25 looks good here. Note that the firm is next expected to release quarterly results on April 16th, after the close.

Larry Schutts is a contributing editor for Theflyonthewall.com and the Vice-President of Stockwinners.com.

Steel Dynamics: Financially reliable steel making originally appeared on BloggingStocks on Tue, 10 Apr 2007 13:23:00 EST. Please see our terms for use of feeds.

Continue reading Cramer talks Cummins, Dendreon and more

Cramer talks Cummins, Dendreon and more originally appeared on BloggingStocks on Wed, 04 Apr 2007 19:11:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• William Blair started THQ Inc (NASDAQ: THQI) with an Outperform rating, as they are positive on shares based on earnings upside potential from the new video game cycle.

• RBC initiated shares of LaSalle Hotel Properties (NYSE: LHO) with an Outperform rating and $52 target, as the firm expects growth to be driven by portfolio repositioning efforts and renovations.

• OfficeMax Inc (NYSE: OMX) was initiated at Bear Stearns with a Peer Perform rating citing a balanced risk/reward.

• Lehman Brothers initiated both AK Steel Holding Corp (NYSE: AKS) and Steel Dynamics Inc (NASDAQ: STLD) with Equal Weight ratings.

• Wachovia started Beazer Homes USA Inc (NYSE: BZH) with a Market Perform rating, saying the company has few discernible competitive advantages over other public homebuilders and lacks catalysts.

• Cowen initiated Rackable Systems Inc (NASDAQ: RACK) with a Neutral rating.

• Bear Stearns re-initiated Tiffany & Co (NYSE: TIF) with a Peer Perform rating.

• Leerink Swann started Align Technology (NASDAQ: ALGN) with an Outperform rating, with a range of $21-$23, believing the company's Invisalign technology is well positioned for renewed growth.

• Bernstein initiated Murphy Oil Corp (NYSE: MUR) with an Outperform rating.

• Cascade Financial Corp (NASDAQ: CASB) was initiated with a Hold rating and $19 target at Sandler.

Analyst initiations 2-27-07: Rest your head at LaSalle Hotel Properties originally appeared on BloggingStocks on Tue, 27 Feb 2007 11:10:00 EST. Please see our terms for use of feeds.