Stock Upgrades: Stock Up on Chili's Owner Brinker This First Day of Winter

By Justin Sharon  DEC 21, 2012 9:24 AM

Wall Street ratings agencies set the tone for today's stock market.

 


MINYANVILLE ORIGINAL Stocks rose on the last day of fall as President Obama — bolstered by the fact he had Time on his side even as the end of the world approached — appeared to best John Boehner in fiscal cliff negotiations. Alas Bed Bath & Beyond (BBBY), which slumped 6.50% to a new low in posting the S&P 500's (^GSPC) poorest performance, is getting no REM sleep, notwithstanding that the Mayans were wrong with their dire prediction.
 
The analyst who prophetically downgraded Research In Motion (RIMM) yesterday was much more on the money than our pre-Columbian prognosticators, since that stock is slumping 13.31% before the opening bell. And even as the Elves and Dwarfs of The Hobbit do boffo box office business, no one was shorting the Big and Tall guys of Casual Male Retail Group (DXLG), which gained 6.12%.
 
This morning in economics, analysts expect the University of Michigan’s final figure for December consumer confidence to come in essentially unchanged at 9:55 a.m. Eastern. In earnings action Quanex Building Products (NX) and Walgreen (WAG) are due to report results.
 
Access Midstream Partners (ACMP): The limited partnership is lifted to Outperform from Market Perform with Wells Fargo, which cites valuation and the company’s distribution growth.
 
Ameren (AEE): Morgan Stanley moves the stock to Overweight from Equal-Weight.
 
Bancolombia (CIB): Shares get upgraded to Neutral from Underweight at JP Morgan.
 
Brinker International (NYSE:EAT): The owner of Chili’s Grill & Bar gets a Buy-from-Neutral boost at Sterne Agee, which says its channel checks indicate strong performance for new menu items. Its price objective is $36.
 
Infineon Technologies (PINK: IFNNY) Shares are moved to Overweight from Neutral at JPMorgan.

(See also: Stock Downgrades: Herbalife Acting Like Life Ends Today and New Stock Coverage: TripAdvisor Stopped in Its Tracks.)
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.