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Stock Upgrades: Casual Friday Suits Joe's Jeans Just Fine


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

Small cap stock Joe's Jeans (NASDAQ:JOEZ) is dressed for success as we end the week. Shares in the clothing company are surging some 16.50% this morning after being boosted by a broker who hails its improving operating metrics. Joe's Jeans just reported a 56% surge in net sales.
And to think, it was only two weeks ago that all of America was enormously indebted to Portugal's most celebrated son, an Iberian soccer superstar whose Uncle Sam-infatuated parents named him after Ronald Reagan. Yesterday the debt threat was firmly on the other foot, as Lisbon lion Banco Espírito Santo (ELI:BES) proved a paper tiger after slumping 17.24% as its owner organization missed key commercial paper payments to send the company's bonds to lifetime lows. This debacle dragged Dow Industrials (INDEXDJX:.DJI) down along with it, although, after initially dropping 180, the blue-chips index tried to do a 180 and ended down just a shade over 70 points. Ironically, US economic data was decidedly decent, with better-than-expected employment data. However, dire news from China, Japan, and of course continental Europe had investors cursing the fact that It's a Small World After All. Not that Walt Disney (NYSE:DIS) will much mind as it celebrates the song's 50th anniversary. Yesterday the Mouse House hit a historic high even amid the market mayhem. While Portugal's beleaguered bank was busy blaming its parent, (NASDAQ:AMZN) was left cursing the kids after suffering a 0.62% loss. CBS Corp (NYSE:CBS) cratered 3.33% in losing gravity quicker than its Astronaut Molly Woods, who has somehow returned pregnant from a year-long solo schlep to the solar system. (Never mind the erstwhile "Tiffany network"; what on Earth has happened to the trajectory of Halle Berry, once an Oscar winner?) Ms. Woods, expecting a pea in the space pod, should certainly stay away from Destination Maternity (NASDAQ:DEST) after its 8.19% implosion. Elsewhere a surging Alcoa (NYSE:AA) hit a fresh multi-year high after attracting another analyst hosanna, this time at Morgan Stanley (NYSE:MS). Interestingly, however, amid all the other broker accolades for the commodity company, Merrill Lynch (NYSE:BAC) is stubbornly sticking to its lukewarm "neutral" rating and $16 price objective. Stan O'Neal may be exercising his "right to be forgotten" on Google (NASDAQ:GOOG) but the "Thundering herd" evidently hasn't forgotten how he exited the investment bank with a $161.5 million pay package after almost bankrupting it, and swiftly found a cushy gig at a certain aluminum outfit.
There aren't any top-tier economic reports due today but, in earnings action, Infosys (NYSE:INFY) and Wells Fargo (NYSE:WFC) each released results earlier this morning.
Now let's analyze this morning's research recommendations, a group encompassing a couple of oil outfits as well as headline analyst initiation Joe's Jeans.

Air France-KLM (OTCMKTS:AFLYY): The stock is hoisted to Hold from Underperform at Jefferies.
Joe's Jeans: Today's headline name is now Buy from Neutral at B. Riley & Co.. Its price objective also increases, to $1.70 from $1.30.
LogMeIn (NASDAQ:LOGM): Cowen lifts LOGM to Outperform from Perform.
Marathon Petroleum (NYSE:MPC): Shares get moved to Buy from Neutral at Citigroup, whose new target price is $94.
QLogic (NASDAQ:QLGC): Morgan Stanley takes the tech equity to Equal-Weight from Underweight.
Royal Dutch Shell (RDS.A): The oil outfit is raised to Overweight from Neutral at JPMorgan.
Siemens (OTCMKTS:SIEGY): RBC Capital gives the German industrial giant an Outperform-from-Sector Perform upgrade.
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No positions in stocks mentioned.
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