Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Upgrades & Downgrades: Buying Best Buy


Maybe the experts know something we don't know.

The route was certainly circuitous but stocks ultimately staged a modest rebound from Friday's ugly action. Ford's (F) $997 million profit hoard, a three year high in manufacturing, and pending home sales posting their eighth consecutive monthly increase all moved equities up. Revlon (REV), after rising 46.1% last week, was again a revelation and added another 19.4%; that the lipstick index lives was also evidenced in Estée Lauder's (EL) 4.4% gain on an upgrade at UBS. While women clearly continue to look their best, their men-friends may need to do more to disprove that chivalry is dead on dates if yesterday's 14.3% plunge in (FLWS) is anything to go on.

Nice Systems (-5.2%) turned in a decidedly nasty performance and America's biggest dairy processor Dean Foods (DF) found itself crying over spilt milk after its 8.4% slide. White flag waving was the order of the day with Citizens Bank, Phillies fans celebrating at the eponymous ballbark as a corporate parent ponders surrendering it in a sale. Ryanair (RYAAY) shares lost a lot of altitude after earnings failed to meet expectations, though as the company intends to make the restroom their best room for fees, relief should shortly be at hand. Releasing results this Election Day are Archer-Daniels-Midland (ADM), Cablevision (CVC), Emerson Electric (EMR), Kraft Foods (KFT), Marathon Oil (MRO), MasterCard (MA), MedcoHealth (MHS), Polo Ralph Lauren (RL), Royal Caribbean (RCL), Teva Pharmaceutical (TEVA), UBS (UBS), Viacom (VIA), Vornado (VNO), and WebMD (WBMD). The Fed starts its two-day confab and look for September factory orders at 10:00AM Eastern.


Hardline Retailers: UBS picks up hardline retailers, with Buys on Advance Auto Parts (AAP), AutoZone (AZO), Bed Bath & Beyond (BBBY), Best Buy (BBY), Home Depot (HD), and Lowe's (LOW). Neutrals are assigned on CarMax (KMX), O'Reilly Automotive (ORLY), and Staples (SPLS).

Precision Drilling (PDS): RBC Capital initiates Precision Drilling at Outperform.


Royal Dutch Shell (RDS-B): The oil company is taken up to Neutral from Underperform by Credit Suisse.

CSX Corp. (CSX): Stifel Nicolaus lifts CSX Corp to Buy from Hold with a price objective of $51 due to valuation on a day Warren flexes his wallet with the railroads. See also Two Ways to Play: Berkshire Acquires Burlington Northern.

Dean Foods: The stock is upgraded to Buy from Hold at Stifel Nicolaus, which sets a $20 target.

Donaldson (DCI): Bank of America/Merrill Lynch boosts Donaldson (Buy from Neutral).

AvalonBay (AVB): The stock gets a Neutral-from-Underperform increase at Bank of America/Merrill Lynch, which takes its target to $70 from $53.

Canadian Solar (CSIQ): The enrgy company sees an Equal-Weight from Underweight upgrade from Credit Suisse. The price objective is increased by $4.50 to $16.

Alliance Data Systems (ADS): The stock is lifted to Buy from Neutral ($70 target) at SunTrust.

Lukoil: HSBC raises its Lukoil rating to Overweight from Neutral.


Semiconductors: Morgan Stanley's more cautious outlook on semiconductors sees downgrades for Intel (INTC) (Overweight from Equalweight; target taken to $22 from $25) as well as Altera (ALTR), Micron (MU) and Xilinx (XLNX). For more on this see Inventory in Semiconductors Looking Lean.

RBC Bearings (ROLL): The stock may roll over after a Neutral-from-Buy cut at Bank of America/Merrill Lynch.

Diedrich Coffee (DDRX): This stock gets downgraded to Hold from Buy by Roth Capital. Shares are no longer trading on fundamentals after the announcement that Peet's Coffee (PEET) will purchase the company.

Affiliated Managers (AMG): AMG is cut to Neutral from Buy at Goldman Sachs.

Noble Energy (NE): Noble gets a valuation based downgrade at Argus (Hold from Buy).

Register For Minyanville's Holiday Festivus '09 Here
< Previous
  • 1
Next >
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.
Featured Videos