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Stock Upgrades: Flash Boys Flock to Men's Wearhouse


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

"Buy on the sound of cannons, sell on the sound of trumpets." Actually, not so much. Admittedly, Canon (NYSE:CAJ) did gain 4.43% as Russia amassed troops by the Ukrainian border, but otherwise, Nathan Rothschild's iconic investment advice of 1810 didn't work. (And after his spare heir took to Twitter (NYSE:TWTR) to call his competitor a "worthless pile of turd," who can blame investors for ignoring the fabled financial dynasty?) There were some winners even as the S&P 500 Index (INDEXSP:.INX) and (especially) Nasdaq (INDEXNASDAQ:.IXIC) each endured a torrid time of it. Shareholders got their kicks from Gol Linhas Aereas Inteligentes (NYSE:GOL), up 8.39%, and soccer side Manchester United (NYSE:MANU), had a 9.00% gainer. The hedge-fund honcho who shorted the sports team to the tune of $22 million thus had a rotten week. However, as he also spent a quarter-million bucks on a chicken coop, Crispin Odey should quite literally remain CALM. For Cal-Maine (NASDAQ:CALM), this morning saw a 9% increase in its specialty-egg sales. An unloved Citigroup (NYSE:C) saw its stock fall 5.7% after again failing a Fed stress test. A member of Margaret Thatcher's cabinet would no doubt tell the company to get "on its bike," but alas, even that now appears impossible for the beleaguered bank.
Today in economics, a slight slippage is seen in the Chicago Purchasing Managers Index at 9:45 a.m. EDT. On the earnings front, the aforementioned Cal-Maine and UTi Worldwide (NASDAQ:UTIW) each released results earlier this morning.
Affiliated Managers (NYSE:AMG): Citigroup increases AMG to Buy from Neutral.
Banco Santander (NYSE:SAN): Shares get a Hold-from-Sell hoist by Deutsche Bank.
Big Lots (NYSE:BIG): KeyBanc Capital Markets moves the stock to Buy from Hold.
BlackBerry (NASDAQ:BBRY): The troubled tech titan, whose shares tumbled 8.4% last week, is currently falling further before the opening bell. This, after receiving dual ratings reductions this morning. The news is, however, better at Needham, which raises its recommendation to Hold from Underperform amid high hopes for new CEO John Chen.
Builders Firstsource (NASDAQ:BLDR): The stock is upgraded to Buy from Hold at Deutsche Bank, which also increases its price objective to $12 from $5.
C.H. Robinson (NASDAQ:CHRW): FBR Capital takes the transport name to Perform from Underperform with a $52 target price.
Delhaize Group (NYSE:DEG): Shares get upgraded to Overweight from Neutral at JP Morgan.
Edison International (NYSE:EIX): UBS increases its investment assessment to Buy from Neutral. The target is also taken up, by $3 to $60.
ExOne (NASDAQ:XONE): XONE is lifted to Buy from Hold at BB&T Capital.
ING US (NYSE:VOYA): Goldman Sachs gives the stock a Buy-from-Neutral boost, raising its price objective to $43 from $38.
Knight Transportation (NYSE:KNX): Shares are lifted to Buy from Neutral at Longbow.
Lululemon Athletica (NASDAQ:LULU): The stock, up 8.94% last week, is adding on another 2.52% as we speak. This, after getting upgraded to Outperform from Neutral with Wedbush.
Men's Wearhouse (NYSE:MW): (Hat tip to man of the hour Michael Lewis for today's title.) The apparel outfit gets upgraded to Buy from Neutral with a $60 price objective at Mizuho. Catalysts include merger synergies from its Jos. A. Bank Clothiers (NASDAQ:JOSB) acquisition, tuxedo rentals, and the clothing company's Joseph Abboud collection.
Panera Bread (NASDAQ:PNRA): Shares are upgraded to Outperform from Neutral with Wedbush.
SINA Corp (NASDAQ:SINA): Pacific Crest raises its recommendation to Outperform from Sector Perform amid increasing liquidity for an array of the company's assets. The stock is up 2.80% this morning as a result.
Travelers (NYSE:TRV): The key Dow (INDEXDJX:.DJI) component gets taken to Neutral from Sell at Guggenheim.
Vipshop (NYSE:VIPS): Shares are boosted to Buy from Neutral at Goldman Sachs.

Also see:

New Stock Coverage: Do Cry for Argentina's MercadoLibre

Stock Downgrades: Raspberries for BlackBerry

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No positions in stocks mentioned.
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