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Stock Upgrades: Is This Heaven? No, It's Iowa -- Meredith Corporation a Heartland Hit

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

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Minnesota was colder than Mars, but stocks still went to Pluto. Even as January job growth remained frozen amid a polar vortex, Dow Industrials (INDEXDJX:.DJI) responded with a triple-digit advance on Friday to finish the first week of February with a 0.61% increase. Among stocks on the move, CVS Caremark (NYSE:CVS) announced it will stop selling tobacco products, secure in the knowledge it remains America's go-to destination for personalized Valentine's Day gifts. The smart money said buy Starbucks (NASDAQ:SBUX) but, only twenty-four hours on, customers were dumbfounded. Handbag king Michael Kors (NYSE:KORS) advanced 18% on the week to a fresh all-time peak, even as its competitor disgraced itself at a service for Philip Seymour Hoffman. Elsewhere, Scarlett Johansson went makeup-free in Vanity Fair, and looked a decade younger for it. Mere mortals who still need Photoshop, fear not, however, for its owner Adobe Systems (NASDAQ:ADBE) surged 2.51% on Friday to a historic high. Flappy Bird flew the coop, and flip-the-bird was the order of the day for Twitter (NYSE:TWTR), which tumbled 16%.

There aren't any top-tier economic reports out today. In earnings action, CNA Financial (NYSE:CNA), Hasbro (NASDAQ:HAS), and Masco (NYSE:MAS) all release results.

American Express (NYSE:AXP): Morgan Stanley moves the stock, a key Dow component, to Overweight from Equal Weight. Its price target, previously $90, increases by $10. The stock is up this morning as a result.

Bristol-Myers (NYSE:BMY): BMY gets an Outperform-from-Perform boost by BMO Capital Markets.

Fast Food: Raymond James juices Bloomin' Brands (NASDAQ:BLMN), DineEquity (NYSE:DIN), Red Robin Gourmet Burgers (NASDAQ:RRGB), and Texas Roadhouse (NASDAQ:TXRH), all now Strong Buy from Outperform.

Ingram Micro (NYSE:IM): IM gets increased to Buy from Hold with a $31 price objective at Brean Capital, which cites a stabilizing demand environment among other favorable factors.

JPMorgan Chase (NYSE:JPM): Societe Generale hoists its fellow financial firm to Buy from Hold.

Legg Mason (NYSE:LM): Shares are trading up today after getting lifted to Outperform from Perform by Keefe Bruyette. Its price objective, previously $48, increases to $50.

Meredith Corporation (NYSE:MDP): It is indeed a Field of Dreams for this publishing powerhouse and pride of Des Moines, today taken to Buy from Neutral at Citigroup.

St. Jude Medical (NYSE:STJ): William Blair moves the medical device maker to Outperform from Market Perform, sending it higher ahead of this morning's opening bell.

T-Mobile US (NYSE:TMUS): TMUS gets increased to Overweight from Equal Weight by Barclays.

Urban Outfitters (NASDAQ:URBN): The retailer is raised to Buy from Hold at Brean Capital.

Whole Foods Market (NASDAQ:WFM): BB&T Capital Markets gives the gourmet grocer a Buy-from-Hold boost.

See also:

Stock Downgrades: Foul Day for Fairway

New Stock Coverage: Sky's the Limit for Rocket Fuel
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No positions in stocks mentioned.
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