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Stock Upgrades: Pandora Out of the Penalty Box


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

MINYANVILLE ORIGINAL A half millenia old bank in Italy, home to high fashion, suffered a severe loss but Jos. A. Bank Clothiers (JOSB) was dressed for success after advancing 13.96%. Yelp Inc. (YELP) jumped 22.51% to top the NYSE in echoes of the Internet bubble and Bubble Wrap maker Sealed Air (SEE) increased 12.15% after replacing CEO William V. Hickey CEO. He had been its head since March 2000, the month the market bubble of the century began bursting in such spectacular fashion. Sears (SHLD) rose 4.53%, after which the S&P 500 (^GSPC) said it was nice knowing you. An upbeat analyst initiation of Sunoco (SXL) sent it surging 4.12% to the highest level in its history, which should be some consolation for those who missed out on its $337 million Powerball jackpot in Michigan earlier in August.

Today's earnings announcements are expected to include Bio-Reference Labs (BRLI), Ciena (CIEN), Gazprom (OGZPY), Methode Electronics (MEI), OmniVision Technologies (OVTI), Pernod Ricard (PDRDY), Splunk (SPLK), Gordmans Stores (GMAN), Vivendi (VIVHY), WPP Plc (WPPGY), and Zumiez (ZUMZ).

Brightcove (BCOV): BCOV gets a Strong Buy-from-Outperform boost at Raymond James, whose price objective is $26.

Calpine (CPN): Shares are upgraded to Overweight from Equal Weight by Barclays.

Cigna (CI): The managed care outfit is moved to Outperform from Neutral at Credit Suisse.

Frontline (FRO): The stock is upgraded to Market Perform from Underperform with Wells Fargo.

Kingfisher (KGFHY): Citigroup increases the name to Buy from Neutral.

Louisiana-Pacific (LPX): The stock, downgraded elsewhere this morning, is moved to Buy from Neutral at Bank of America-Merrill Lynch.

Pandora (P): Shares, surging 13% before the bell, are upgraded to Buy from Hold at Canaccord. Improved visibility following the company's Q2 results is cited. The target is also taken up by $3, to $16.

Volvo (VOLVY): The Swedish car company is hoisted to Buy from Hold at Société Générale.

World Wrestling Entertainment (WWE): Roth Capital raises its recommendation to Buy from Neutral due to the pick up in Pay-Per-View buy rates. The new target is $12, up from $10.

(See also: Stock Downgrades: Hanging Up on Ericsson and New Stock Coverage: Magnum Hunter Looks Like a Long Shot.)
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No positions in stocks mentioned.
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