Stock Upgrades: Sherwin-Williams Paints Town Red, Tape Green

By Justin Sharon  SEP 23, 2013 9:29 AM

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

 


Stocks endured a tumultuous time of it after being blindsided by a bald man with a white beard. But enough about Walter Mossberg. Ben Bernanke sent the Dow Average (INDEXDJX:.DJI) to a fresh peak last week after the Fed he heads unexpectedly opted not to end its bond-buying binge. Among equities on the move, Destination Maternity (NASDAQ:DEST) rose 1.15% on Friday to finish at the highest level in its history. (With one market sage erroneously predicting a “tiny taper” in September and another indicating that a “small taper” may come in October, getting a little bit pregnant was evidently all the rage.)

"Fans camped outside for days in anticipation," said the New York Times (NYSE:NYT) -- and not because of Apple Inc. (NASDAQ:AAPL), but rather to mark the passing of a giant at Nintendo (OTCMKTS:NTDOY). The "newspaper of record” once mistakenly claimed, "A rocket will never be able to leave the Earth’s atmosphere." Rocket Fuel (NASDAQ:FUEL), which rose 93.45% to top the Nasdaq (INDEXNASDAQ:.IXIC) on Friday, may beg to differ.

There isn’t any top-tier economic data due today, but Red Hat (NYSE:RHT) is expected to announce its quarterly earnings.
 
American Electric (NYSE:AEP): Shares are moved to Outperform from Market Perform with Wells Fargo.
 
BlackBerry Ltd (NASDAQ:BBRY): Credit Suisse takes the tech stock to Neutral from Underperform following Friday’s 17.06% share price slump. (Note that the stock simultaneously suffered ratings reductions this morning.)
 
Gold Fields (NYSE:GFI): The commodity company gets upgraded to Neutral from Sell at Citigroup.
 
ING Group (NYSE:ING): Shares are now Neutral from Outperform at BNP Paribas.
 
Maxim Integrated (NASDAQ:MXIM): Goldman Sachs upgrades the equity to Conviction Buy from Neutral.
 
Metrocorp Bancshares (NASDAQ:MCBI): The regional financial firm is moved to Outperform from Market Perform by Keefe Bruyette.
 
Open Text (NASDAQ:OTEX): Credit Suisse raises its recommendation to Neutral from Underperform.
 
Nokia (NYSE:NOK): There’s no stopping this surging stock, which is now Neutral from Underweight at HSBC Securities.
 
Regional Management (NYSE:RM): FBR Capital raises the credit services company to Outperform from Market Perform, increasing its price objective by $5 to $33. Good growth and profitability are each cited.
 
Sherwin-Williams Company (NYSE:SHW): The paint and coating powerhouse is now Outperform from Neutral at Credit Suisse.
 
Towers Watson (NYSE:TW): Shares are boosted to Buy from Hold at Deutsche Bank, whose target price is hoisted to $125 from $93.
 
TripAdvisor (NASDAQ:TRIP): Praising the company’s amended advertising model, Stifel Nicolaus takes TRIP to Buy from Hold.
 
Walgreen (NYSE:WAG): Morgan Stanley moves the recently-surging stock to Overweight from Equal-Weight.
 
Zimmer Holddings (NYSE:ZMH): RBC Capital Markers moves the medical device maker to Outperform from Sector Perform.
 
(See also: Stock Downgrades: Rude Awakening for DreamWorks Animation and New Stock Coverage: Stratasys Stock Going Through the Stratosphere.)

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No positions in stocks mentioned.

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