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.

Stock Upgrades: Can Netflix, Its Development Recently Arrested, Stop Falling Like a House of Cards?


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

Netflix (NASDAQ:NFLX), the top S&P 500 Index (INDEXSP:.INX) stock of 2013, has lately endured a far tougher time of it. The online video outfit behind both House of Cards and the revitalization of Arrested Development saw its stock slide roughly 30% since just the start of March, selling off along with myriad other momentum names. Yet today shares are currently bouncing back to the tune of 1.36% after being boosted by Pacific Crest. The broker believes an acceleration in international growth, along with margin and pricing potential, can all act as catalysts. A comedian-turned-politician (now, there's a distinction without a difference if ever there was one) may have something to say about that, however.
Yesterday stocks surged after the silver-haired woman showed infinitely more compassion for the unemployed than did the Gray Lady. Janet Yellen's promise of ongoing assistance for America's jobless was welcomed by Wall Street and stood in stark contrast to the New York Times (NYSE:NYTcallously canning the CEO of Goldman Sachs (NYSE:GS). (Mind you, as one ex-worker at Yahoo (NASDAQ:YHOO) can attest, occasionally it preposterously pays more to be fired after 15 months than it does to actually head up the company. Not that we should feel too sorry for Marissa Mayer, who saw her beloved stock skyrocket an S&P 500 (INDEXSP:.INX)-best 6.26%.) Elsewhere, burger behemoth Sonic Corp. (NASDAQ:SONC) advanced 2.06% after announcing plans to take on industry titans McDonald's (NYSE:MCD), Wendy's (NASDAQ:WEN), and Burger King (NYSE:BKW) in earnest. That sounds serious, but the fast-food industry, as evidenced in a hilarious new skit from Amy Schumer, is actually a barrel of fun. Ms. Mayer's geeky guffaw could be heard laughing all the way to the bank at that.
This morning in economics, April's Philadelphia Fed Index is expected to show an improvement at 10:00 a.m. EDT. On the corporate front, a battery of earnings announcements include Dow (INDEXDJX:.DJI) duo DuPont (NYSE:DD) and General Electric (NYSE:GE), which each released results earlier. The bond market closes early today at 2:00 p.m., and the NYSE won't open tomorrow in observance of Good Friday.
Now let's turn to this morning's analyst upgrades, a group that encompasses an alternative-energy darling as well as our aforementioned Netflix.
Alcoa (NYSE:AA): RBC Capital raises its recommendation on the commodity company to Sector Perform from Underperform.
Bank of America (NYSE:BAC): Shares, which slid 1.59% in Wednesday's ebullient market, are moved to Outperform from Perform with a $19 price objective at Oppenheimer. Although litigation costs are a concern, shares are seen as inexpensive relative to tangible book value.
Boardwalk Pipeline (NYSE:BWP): JP Morgan lifts the limited partnership an unusual 180 degrees, to Overweight from Underweight. Its target price is also taken up, by $4 to $18.
Edison International (NYSE:EIX): The stock gets a Buy-from-Hold boost at Jefferies. Its price objective, previously $61, increases to $64.50.
Gogo Inc. (NASDAQ:GOGO): JP Morgan gives the provider of in-flight Wi-Fi an upgrade to Overweight from Neutral.
National Bank of Greece (NYSE:NBG): The financial firm is now Neutral from Underweight at a busy JPMorgan.
Netflix: Pacific Crest hikes its investment assessment to Outperform from Sector Perform with a $500 price objective.
SolarCity (NASDAQ:SCTY): The alternative-energy outfit whose chairman is Tesla Motor's (NASDAQ:TSLA) omnipresent Elon Musk gets raised to Outperform from Neutral with a $75 target by Robert W. Baird. A recent share-price pullback offers investors an attractive entry point, the bank believes, especially as the US rooftop business appears to be on the brink of a long-term boom.

Also see:

New Stock Coverage: Unforgettable Day for Flash Memory Maker SanDisk

Stock Downgrades: Ryder Reaches End of the Road

< 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