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Stock Upgrades: Hazy, Crazy Days of Summer Sit Well With La-Z-Boy
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

(Hat tip to Nat King Cole for today's title as we approach the summer solstice.) La-Z-Boy (NYSE:LZB) stock reclined in major way yesterday, but its shares are snapping back somewhat this morning. The furniture firm imploded 8.05% even as S&P 500 (INDEXSP:.INX) shares rose to records, this after fourth-quarter revenue came in light. Comparable store sales also slumped for the first time in almost four years on account of inclement weather, among other issues. However, one equity analyst says the steep sell-off creates a compelling buying opportunity.
 
The bull is quite literally being downsized by Bank of America (NYSE:BAC) but there is no sign that Wall Street as a whole is about to follow suit. Even as Spain, land of the matador, proved pathetic value for money at the World Cup, this bull market proved impossible to kill. The Dow (INDEXDJX:.DJI) advanced impressively on market-friendly comments from Fed head Janet Yellen, while for its part Nasdaq (INDEXNASDAQ:.IXIC) hit its highest since 2000. That was the year Dick Cheney famously agreed with Dubya that a New York Times (NYSE:NYT) journalist was a "major league as--" and, to judge by recent events, the hurt hasn't healed. (Yesterday Mr. Cheney enjoyed the last laugh, as Halliburton (NYSE:HAL) gained 1.32% to a fresh best even as The Grey Lady failed to benefit from the grey lady, Ms. Yellen, and fell 0.19%. Brooklyn-born Janet Yellen also appears to be inspiring a boom in Brooklyn as a baby name -- everywhere apart from Brooklyn, that is. There are, of course, "8 million stories in the naked city." Or $8.25 million, if you once worked at Goldman Sachs (NYSE:GS), whose Bronx-native Lloyd Blankfein now has a new headache.
 
Today in economic data, May leading indicators and the Philadelphia Fed index for June are each released at 10:00 a.m. EDT. On the earnings front, BlackBerry (NASDAQ:BBRY), Kroger (NYSE:KR), Oracle (NYSE:ORCL), Rite Aid (NYSE:RAD), and Smith & Wesson (NASDAQ:SWHC) all announce earnings.
 
Now let's analyze this morning's analyst upgrades, a group encompassing a surging package delivery powerhouse as well as our aforementioned La-Z-Boy.

AngioDynamics (NASDAQ:ANGO): Canaccord Genuity gives the company a Buy-from-Hold boost. Its price objective, previously $16.25, increases to $20.
 
Bruker Corp (NASDAQ:BRKR): Shares are moved to Outperform from Market Perform with Wells Fargo.
 
Diamond Foods (NASDAQ:DMND): Barclays increases its investment assessment on the snack food firm to Overweight from Equal Weight.
 
FedEx (NYSE:FDX) The stock, up 6.16% yesterday to a historic high, gets raised to Sector Perform from Underperform at RBC Capital, which has increased conviction in its earnings estimates. The target price is also taken higher, by $30 to $155.
 
La-Z-Boy: BB&T Capital Markets lifts LZB to Buy from Hold.
 
Ryanair (NASDAQ:RYAAY): Shares in the low cost carrier are up in Europe today on the back of a Buy-from-Neutral boost at UBS, which cites prospects for market share gains.
 
Spirit Aerosystems (NYSE:SPR): Sterne Agee increases its investment assessment to Buy from Neutral.
 
Starbucks (NASDAQ:SBUX): The coffee king is now Buy from Neutral at UBS.
 
Also see:

New Stock Coverage: Keurig Green Mountain Not Worth Hill of Beans?

Stock Downgrades: ConAgra's Prospects Appear Slim, Jim
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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.
Stock Upgrades: Hazy, Crazy Days of Summer Sit Well With La-Z-Boy
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

(Hat tip to Nat King Cole for today's title as we approach the summer solstice.) La-Z-Boy (NYSE:LZB) stock reclined in major way yesterday, but its shares are snapping back somewhat this morning. The furniture firm imploded 8.05% even as S&P 500 (INDEXSP:.INX) shares rose to records, this after fourth-quarter revenue came in light. Comparable store sales also slumped for the first time in almost four years on account of inclement weather, among other issues. However, one equity analyst says the steep sell-off creates a compelling buying opportunity.
 
The bull is quite literally being downsized by Bank of America (NYSE:BAC) but there is no sign that Wall Street as a whole is about to follow suit. Even as Spain, land of the matador, proved pathetic value for money at the World Cup, this bull market proved impossible to kill. The Dow (INDEXDJX:.DJI) advanced impressively on market-friendly comments from Fed head Janet Yellen, while for its part Nasdaq (INDEXNASDAQ:.IXIC) hit its highest since 2000. That was the year Dick Cheney famously agreed with Dubya that a New York Times (NYSE:NYT) journalist was a "major league as--" and, to judge by recent events, the hurt hasn't healed. (Yesterday Mr. Cheney enjoyed the last laugh, as Halliburton (NYSE:HAL) gained 1.32% to a fresh best even as The Grey Lady failed to benefit from the grey lady, Ms. Yellen, and fell 0.19%. Brooklyn-born Janet Yellen also appears to be inspiring a boom in Brooklyn as a baby name -- everywhere apart from Brooklyn, that is. There are, of course, "8 million stories in the naked city." Or $8.25 million, if you once worked at Goldman Sachs (NYSE:GS), whose Bronx-native Lloyd Blankfein now has a new headache.
 
Today in economic data, May leading indicators and the Philadelphia Fed index for June are each released at 10:00 a.m. EDT. On the earnings front, BlackBerry (NASDAQ:BBRY), Kroger (NYSE:KR), Oracle (NYSE:ORCL), Rite Aid (NYSE:RAD), and Smith & Wesson (NASDAQ:SWHC) all announce earnings.
 
Now let's analyze this morning's analyst upgrades, a group encompassing a surging package delivery powerhouse as well as our aforementioned La-Z-Boy.

AngioDynamics (NASDAQ:ANGO): Canaccord Genuity gives the company a Buy-from-Hold boost. Its price objective, previously $16.25, increases to $20.
 
Bruker Corp (NASDAQ:BRKR): Shares are moved to Outperform from Market Perform with Wells Fargo.
 
Diamond Foods (NASDAQ:DMND): Barclays increases its investment assessment on the snack food firm to Overweight from Equal Weight.
 
FedEx (NYSE:FDX) The stock, up 6.16% yesterday to a historic high, gets raised to Sector Perform from Underperform at RBC Capital, which has increased conviction in its earnings estimates. The target price is also taken higher, by $30 to $155.
 
La-Z-Boy: BB&T Capital Markets lifts LZB to Buy from Hold.
 
Ryanair (NASDAQ:RYAAY): Shares in the low cost carrier are up in Europe today on the back of a Buy-from-Neutral boost at UBS, which cites prospects for market share gains.
 
Spirit Aerosystems (NYSE:SPR): Sterne Agee increases its investment assessment to Buy from Neutral.
 
Starbucks (NASDAQ:SBUX): The coffee king is now Buy from Neutral at UBS.
 
Also see:

New Stock Coverage: Keurig Green Mountain Not Worth Hill of Beans?

Stock Downgrades: ConAgra's Prospects Appear Slim, Jim
< 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.
Daily Recap
Stock Upgrades: Hazy, Crazy Days of Summer Sit Well With La-Z-Boy
Wall Street ratings agencies set the tone for today's stock market.
Justin Sharon    

(Hat tip to Nat King Cole for today's title as we approach the summer solstice.) La-Z-Boy (NYSE:LZB) stock reclined in major way yesterday, but its shares are snapping back somewhat this morning. The furniture firm imploded 8.05% even as S&P 500 (INDEXSP:.INX) shares rose to records, this after fourth-quarter revenue came in light. Comparable store sales also slumped for the first time in almost four years on account of inclement weather, among other issues. However, one equity analyst says the steep sell-off creates a compelling buying opportunity.
 
The bull is quite literally being downsized by Bank of America (NYSE:BAC) but there is no sign that Wall Street as a whole is about to follow suit. Even as Spain, land of the matador, proved pathetic value for money at the World Cup, this bull market proved impossible to kill. The Dow (INDEXDJX:.DJI) advanced impressively on market-friendly comments from Fed head Janet Yellen, while for its part Nasdaq (INDEXNASDAQ:.IXIC) hit its highest since 2000. That was the year Dick Cheney famously agreed with Dubya that a New York Times (NYSE:NYT) journalist was a "major league as--" and, to judge by recent events, the hurt hasn't healed. (Yesterday Mr. Cheney enjoyed the last laugh, as Halliburton (NYSE:HAL) gained 1.32% to a fresh best even as The Grey Lady failed to benefit from the grey lady, Ms. Yellen, and fell 0.19%. Brooklyn-born Janet Yellen also appears to be inspiring a boom in Brooklyn as a baby name -- everywhere apart from Brooklyn, that is. There are, of course, "8 million stories in the naked city." Or $8.25 million, if you once worked at Goldman Sachs (NYSE:GS), whose Bronx-native Lloyd Blankfein now has a new headache.
 
Today in economic data, May leading indicators and the Philadelphia Fed index for June are each released at 10:00 a.m. EDT. On the earnings front, BlackBerry (NASDAQ:BBRY), Kroger (NYSE:KR), Oracle (NYSE:ORCL), Rite Aid (NYSE:RAD), and Smith & Wesson (NASDAQ:SWHC) all announce earnings.
 
Now let's analyze this morning's analyst upgrades, a group encompassing a surging package delivery powerhouse as well as our aforementioned La-Z-Boy.

AngioDynamics (NASDAQ:ANGO): Canaccord Genuity gives the company a Buy-from-Hold boost. Its price objective, previously $16.25, increases to $20.
 
Bruker Corp (NASDAQ:BRKR): Shares are moved to Outperform from Market Perform with Wells Fargo.
 
Diamond Foods (NASDAQ:DMND): Barclays increases its investment assessment on the snack food firm to Overweight from Equal Weight.
 
FedEx (NYSE:FDX) The stock, up 6.16% yesterday to a historic high, gets raised to Sector Perform from Underperform at RBC Capital, which has increased conviction in its earnings estimates. The target price is also taken higher, by $30 to $155.
 
La-Z-Boy: BB&T Capital Markets lifts LZB to Buy from Hold.
 
Ryanair (NASDAQ:RYAAY): Shares in the low cost carrier are up in Europe today on the back of a Buy-from-Neutral boost at UBS, which cites prospects for market share gains.
 
Spirit Aerosystems (NYSE:SPR): Sterne Agee increases its investment assessment to Buy from Neutral.
 
Starbucks (NASDAQ:SBUX): The coffee king is now Buy from Neutral at UBS.
 
Also see:

New Stock Coverage: Keurig Green Mountain Not Worth Hill of Beans?

Stock Downgrades: ConAgra's Prospects Appear Slim, Jim
< 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.
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