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Analyst upgrades: ELOS, CEL, GMT and TNS

MOST NOTEWORTHY: Syneron Medical, Cellcom Israel, GATX Corp and TNS, Inc were today's noteworthy upgrades:
  • Merriman upgraded shares of Syneron Medical (NASDAQ:ELOS) to Buy from Neutral following the Q1 results to reflect the introduction of LipoLite and the company's global distribution channel. They believe shares can trade towards the $22-$26 level.
  • Jefferies upgraded Cellcom Israel (NYSE:CEL) to Buy from Hold following the company's Q1 results to reflect its improved EBITDA outlook.
  • Morgan Keegan upgraded GATX (NYSE:GMT) to Outperform from Market Perform as they believe the company has increased opportunities to deploy capital given the current state of the market for railcars, which should result in share outperformance.
  • Suntrust raised TNS, Inc (NYSE:TNS) to Buy from Neutral citing improved execution and the global shift towards electronic transactions.
OTHER UPGRADES:

Analyst initiations 4-09-07: Akamai Tech & Take-Two Interactive initiated today

MOST NOTEWORTHY: NDS Group plc (NNDS), Payless ShoeSource, Inc (PSS), Southern Union Co (SUG) and Take-Two Interactive Software, Inc (TTWO) were today's noteworthy initiations:
  • B. Riley believes NDS Group (NASDAQ: NNDS) is in an attractive space with 42M digital TV subscribers, increasing competition between TV service providers and declining digital deployment costs, starting shares with a Buy rating and $66.50 target.
  • KeyBanc McDonald initiated shares of Payless ShoeSource Inc (NYSE: PSS) with a Buy rating and $42 target.
  • Calyon started Southern Union Co (NYSE: SUG) with a Buy rating and $38 target and sees positive catalysts over the next 12-18 months, including a potential takeover or monetization and the formal creation of an MLP.
  • Take-Two Interactive Software (NASDAQ: TTWO) was started with a Hold rating at Needham. The firm finds it unlikely that shares will outperform until new management sets forth their new plan, which is expected to take 3-6 months.
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+20.0310,246.97
NASDAQ-2.982,151.08
S&P 500-0.071,093.01

Last updated: November 10, 2009: 04:27 PM

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