MOST NOTEWORTHY: Strattec Security Corp (STRT), Palm, Inc (PALM), Netflix, inc (NFLX), J.C. Penney Co, Inc (JCP) and Marriott International Inc (MAR) were some of today's noteworthy upgrades:
- Shares of Palm, Inc (NASDAQ: PALM) were raised to Equal Weight from Underweight at Lehman Bros.
- Banc of America upgraded Netflix Inc (NASDAQ: NFLX) to Neutral from Sell based on valuation.
- J.C. Penney Co Inc (NYSE: JCP) was raised to Strong Buy from Accumulate with a $105 target at Buckingham, citing strategic merchandise, flow and cycle-timing initiatives.
- Wachovia believes that as the lodging cycle matures, Marriott International's (NYSE: MAR) diversified fee-based, unit-driven model will outperform relative to pure hotel-owned companies, and upgraded shares to Outperform from Market Perform.
OTHER UPGRADES:
- Goldman Sachs upgraded CNOOC Ltd (NYSE: CEO) to Buy from Neutral.
- Oppenheimer upgraded Playtex Products, Inc (NYSE: PYX) to Buy from Neutral on its acquisition of Tiki Hut, strong fundamentals and realistic investor expectations.
- Shares of VCA Antech, Inc (NASDAQ: WOOF) were upgraded to Outperform from Market Perform at Morgan Keegan.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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