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Upgrades & Downgrades: JetBlue Takes Off

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Maybe the experts know something we don't know.

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For a third straight session stocks ended in the black, as did black gold with oil gaining 4.6%. The yellow metal itself got up over $1,000 intraday, an 18-month high, but our greenback could use bucking up after falling to its lowest level against the euro all year.

The motorcycle diaries made impressive reading for Harley Davidson (HOG) (up 7.4% on an upgrade, see yesterday's Harley Davidson in Hog Heaven) though McGraw-Hill (MHP) fell of a cliff, closing down 7.2%. That its chairman rang the opening bell was either curse or coincidence, but both superstitions and statisticians will run amok on a day that has numerologists in Nirvana. 09/09/09 certainly provides proof The Beatles possess nine lives; a band which disbanded four decades ago gets set for a huge Day in the Life.

Initiations

Discovery Communications (DISCA): Oppenheimer discovers Discovery Communications, initiating with an Outperform and establishing a $31 price objective. The broker sees it as the preeminent pure-play cable network operator.

Southern Copper (PCU): FBR Capital picks up coverage of Southern Copper ($25 target) with a Market Perform, suggesting investors stand on the sidelines for now.

Upgrades

JetBlue (JBLU): Analysts at Argus say shares of JetBlue could fly as high as $8 after a 180 degree Buy-from-Sell upgrade. Falling fuel costs and reduced congestion at JFK airport bode well for earnings.

MasterCard (MA): Mastercard is boosted to Hold from Sell at Citigroup.

United Parcel Service (UPS): It's a red letter day for UPS, raised to Overweight from Neutral at JP Morgan which bumps up its price target $13 to $70 in a belief the underperformance is overdone.

Morgan Stanley (MS): The house of Morgan stands united as JP Morgan also upgrades Morgan Stanley to Overweight from Neutral, taking its target to $36 from $33. The firm favors quality traditional credit-exposed banks over international investment banks.

SanDisk (SNDK): The tech company is upgraded by Deutsche Bank to Buy from Hold based on industry-wide supply cuts and an improving demand environment in 2010.

Wynn Resorts (WYNN): Oppenheimer upgrades Wynn Resorts (Perform from Underperform) on opportunities in the Macau market.

Downgrades

Kraft (KFT): Kraft is cut (Hold from Buy) at Argus, which also removes the shares from its Focus List following the company's bid to buy Cadbury (CBY).

UBS (UBS): Type carefully when entering those orders; on the day JP Morgan upgrades UPS to Overweight from Neutral, the same firm is downgrading UBS to Neutral from Overweight.

DuPont (DD): Dow component DuPont could have a down day after Goldman Sachs lowered it to Neutral from Buy.
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.

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