Posted Jul 2nd 2009 2:15PM by Steven Mallas
Filed under: Analyst upgrades and downgrades, Time Warner (TWX), Film, Marvel Entertainment (MVL)

Ah, an upgrade of an old favorite of mine.
Marvel Entertainment (NYSE:
MVL). I've owned this one in the past. Never lost money on it. I'd like to be back in Marvel. Only one problem.
Yesterday, Marvel, a company whose comic library competes with Time Warner (NYSE: TWX) and its own stable of superheroes, received an upgrade from JPMorgan. It now is in the Overweight camp. Before, it was merely Neutral. As you might expect, the stock reacted. There was no way the market was going to ignore this because, really, Marvel is one of those stocks that does show a lot of promise considering that the sequel to Iron Man is due out next summer. Shares closed over 5% higher on Wednesday in reaction to the headline. The professional traders must loved the action.
Continue reading Is Marvel getting away?
Posted Jul 2nd 2009 9:50AM by Laurie Pasternack
Filed under: Analyst reports, Analyst upgrades and downgrades, Cisco Systems (CSCO), Southwest Airlines (LUV), Contl Airlines'B' (CAL), Analyst initiations, Johnson Controls (JCI), Juniper Networks (JNPR), Delta Air Lines (DAL)
Analyst upgrades:
- Citigroup upgraded Adtran (NASDAQ: ADTN) to Buy from Hold on expectations the company will benefit from the broadband Stimulus funds.
- Morgan Stanley upgraded Continental Airlines (NYSE: CAL) to Overweight from Equal Weight based on relative valuation and views the company as a "survivor." Additionally, the analyst lowered 2009 industry estimates but believes it is the last cut for the year and is incrementally more positive on the sector.
- Morgan Stanley also upgraded EXFO Electro-Optical (NASDAQ: EXFO) to Overweight from Market Weight based on valuation.
- Tata Motors (NYSE: TTM) was upgraded to Buy from Hold at Deutsche Bank.
- Ascent Solar (NASDAQ: ASTI) was upgraded to Neutral from Underweight at JP Morgan.
- Mechel Steel (NYSE: MTL) was upgraded to Neutral from Underperform at Credit Suisse.
Continue reading Analyst upgrades, downgrades and initiations: ADTN, CAL, EXFO, JCI, LUV, VAR, CSCO, KMT, EZCH
Posted Jul 1st 2009 11:20AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations
Analyst Upgrades
- Goldman upgraded Yum! Brands (NYSE: YUM) to Buy from Neutral on expectations business in the U.S. and China will improve in the second half of 2009. Goldman raised its target price on shares to $40 from $36.
- Canaccord upgraded Exco Resources (NYSE: XCO) to Buy from Speculative Buy citing the company's financial transactions to reduce debt. The firm, which has a $17 target on the stock, says Exco now has a stronger balance sheet, a greater geographic focus, and the ability to expedite drilling programs.
- ThinkEquity upgraded Shanda (NASDAQ: SNDA) to Accumulate from Source of Funds and raised its target to $60 from $50. The firm believes recent weakness on regulatory concerns is overdone and that Q2 estimates are conservative.
- Mack-Cali Realty (NYSE: CLI) was upgraded to Overweight from Equal Weight at Barclays.
- Marvel Entertainment (NYSE: MVL) was upgraded to Overweight from Neutral at JPMorgan.
- France Telecom (NYSE: FTE) was upgraded to Outperform from Underperform at Credit Suisse.
Continue reading Analyst upgrades, downgrades and initiations: HOT, MVL, NDAQ, PALM, YUM ...
Posted Jun 30th 2009 11:40AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations
Analyst Upgrades
- Wachovia upgraded Choice Hotels (NYSE: CHH) to Outperform from Market Perform based on its high margin franchise, valuation, and brand acquisition opportunities, among other reasons.
- Canaccord upgraded Freeport McMoRan (NYSE: FCX) to Buy from Speculative Buy based on asset and management quality, size, and liquidity, and view as a potential hedge against inflation and U.S. dollar weakness.
- Cowen upgraded Amazon.com (NASDAQ: AMZN) to Outperform from Neutral. The firm expects Amazon to gain more of the consumer wallet as it focuses on lower prices and a superior shopping experience vs. online and offline competitors.
- Ctrip.com (NASDAQ: CTRP) was upgraded to Buy from Neutral at Nomura.
- FedEx (NYSE: FDX) was upgraded to Overweight from Equal Weight at Barclays.
- Marathon Oil (NYSE: MRO) was upgraded to Neutral from Sell at Goldman.
Continue reading Analyst upgrades, downgrades and initiations: AMZN, FDX, MRO, NOK, SUN ...
Posted Jun 29th 2009 2:10PM by Steven Mallas
Filed under: Analyst upgrades and downgrades, Coca-Cola (KO), PepsiCo (PEP)

According to
reports, both
PepsiCo (NYSE:
PEP) and
Pepsi Bottling Group (NYSE:
PBG) received an upgrade from Stifel Nicolaus. Both are now placed in the "buy" category. I'm sure the companies are happy to be away from the depressing "hold" moniker. The price targets on Pepsi and Pepsi Bottling Group are $64 and $37, respectively. As of this writing, Pepsi was priced at $54.82 while Pepsi Bottling Group's last bid was $33.71.
As can be seen, if Stifel Nicolaus turns out to be right, then traders might have a winning transaction on their hands. But one thing that must be remembered is the arbitrage game going on here. Pepsi wants to buy Pepsi Bottling Group. The latter is, of course, arguing for a higher purchase price.
Continue reading PepsiCo's upgrade -- should you buy?
Posted Jun 26th 2009 12:00PM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations
Analyst Upgrades
- Barclays upgraded Anglo American (NASDAQ: AAUK) to Overweight from Equal Weight based on a potentially higher bid from Xstrata (OTC: XSRAY) or a white night willing to pay a premium for the group, higher copper prices, and improving operating performance.
- Janney Montgomery upgraded Chiquita Brands (NYSE: CQB) to Buy from Neutral citing improved bagged salad margins, strong free cash flow, solid banana trends, and valuation. The firm has a $13 target on the stock.
- Wunderlich upgraded Legacy Reserves (NASDAQ: LGCY) to Buy from Hold due to the firm's belief that the back of the crude board is still very cheap, the firm's increased distribution outlook, and the movement of the stock after the discontinuation of the company's talks with Apollo.
- Deutsche Bank (NYSE: DB) was upgraded to Buy from Neutral at UBS.
- UBS (NYSE: UBS) was upgraded to Outperform from Neutral at Credit Suisse.
- Illinois Tool Works (NYSE: ITW) was upgraded to Outperform from Market Perform at Wachovia.
Continue reading Analyst upgrades, downgrades and initiations: DB, CAT, MMM, NKE, UBS ...
Posted Jun 25th 2009 10:30AM by Elizabeth Harrow
Filed under: Analyst reports, Analyst upgrades and downgrades, Options, E*TRADE (ETFC)
E*Trade Financial Corp. (NASDAQ: ETFC) has garnered three upgrades in as many days this week. On Monday, Fox-Pitt upped the equity from Underperform to In Line, while FBR on Tuesday raised its opinion from Underperform to Outperform. Raymond James rounded out the trifecta on Wednesday, hiking its rating on ETFC from Underperform to Market Perform.
Judging by this rush of analyst love, Wall Street seems to think the worst is over for E*Trade. However, most of this week's commentary falls under the category of "damning with faint praise." For example, Fox-Pitt said they now believe ETFC is more likely to be acquired by another firm than to file bankruptcy, and Raymond James observed that the stock has "limited downside" -- hardly a bold statement for an equity that settled Wednesday at $1.23.
Continue reading Call volume climbs on E*Trade Financial after a trio of upgrades
Posted Jun 24th 2009 11:45AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations
Analyst Upgrades
- Citigroup upgraded Deutsche Bank (NYSE: DB) to Hold from Sell citing reduced legacy risks and strength in the fixed income franchise.
- Janney Montgomery upgraded Fuel Systems (NASDAQ: FSYS) to Buy from Neutral based on valuation, the OEM market in Europe for alternative transportation is growing faster than expected, and the $30M equity raise was smaller than expected.
- Freeport McMoRan (NYSE: FCX) was upgraded to Outperform from Market Perform by FBR Capital. The firm believes that the company will benefit from copper supply issues over the long term, and it thinks the stock has reached an attractive entry point.
- Black & Decker (NYSE: BDK) was upgraded to Neutral from Underperform at Credit Suisse.
- American Tower (NYSE: AMT) was raised to Overweight from Neutral at JPMorgan.
- EMC Corp. (NYSE: EMC) was upgraded at Barclays to Overweight from Equal Weight.
Continue reading Analyst upgrades, downgrades and initiations: BA, DB, EMC, FCX, JCI, VZ ...
Posted Jun 23rd 2009 11:20AM by Mark Fightmaster
Filed under: Analyst upgrades and downgrades, FedEx Corp (FDX)
This morning, JPMorgan Chase upgraded FedEx (NYSE: FDX) to "overweight" from "neutral," citing the company's "strong operating leverage" that "should drive performance for the stock when there is improvement in the economy." The brokerage also stated that bad news is already reflected in FDX's stock price. They also upped the dean of delivery's price target to $66 per share from $60 per share.
Is this upgrade a smart move or wishful thinking? I have reservations on a couple of levels, so let's address those, shall we? My first reservation is on a fundamental level. The per-barrel price of oil is rising and could continue to rise, leading to higher gas prices. If this situation occurs, we could see FedEx punished a bit, mainly because of the company's reliance on gasoline. Yes, there is a possibility that FedEx could break its reliance on black gold, but it would take a fleet of hybrid or electric vehicles for this to happen -- and that costs a lot of money.
Continue reading Is JPMorgan's FedEx upgrade wishful thinking?
Posted Jun 22nd 2009 11:40AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations
Analyst Upgrades
- McAdams Wright expects Dendreon's (NASDAQ: DNDN) near-term momentum to continue but has long-term concerns that Street estimates are too high. The firm upgraded shares to Hold from Sell.
- JPMorgan upgraded Ameristar Casinos (NASDAQ: ASCA) to Overweight from Neutral to reflect valuation, potential catalysts from Colorado's easing gaming regulations, and the company's strong free cash flow. The firm raised its target on shares to $24 from $20.
- Citigroup upgraded Valspar (NYSE: VAL) to Hold from Sell after channel checks indicated paint demand is shifting to big-box retailers, the company's primary sales channel. The firm raised its target on shares to $22 from $19.
- Vulcan Materials (NYSE: VMC) was upgraded to Buy from Neutral at UBS.
- Altera (NASDAQ: ALTR) was raised to Outperform from Sector Perform at RBC Capital.
- Spectra Energy (NYSE: SEP) was upgraded to Neutral from Sell at Goldman.
Continue reading Analyst upgrades, downgrades and initiations: ALU, BJ, CPB, KMX, PGR
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