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Stock Upgrades: Adobe Is No Flash in the Pan


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

MINYANVILLE ORIGINAL And on the seventh day, stocks rested. The S&P 500 Index (^GSPC) snapped a six-session wining streak, though stocks did pare losses late on as it emerged John Boehner and President Obama would meet at the White House at 5:00 p.m. Our politicians are thus obviously listening to Buffett - alas Jimmy and not cousin Warren - which is actually oddly appropriate, as you just know that Come Monday the fiscal cliff crisis will remain unresolved.

Harbinger (HRG) tumbled 26.61%, the single worst session in the history of an organization whose brands include Remington razors. New England Patriots owner Victor Kiam once famously bought that company, but the news wasn't all bad in Beantown. Boston Beer (SAM) surged 15.50% to an all-time best. Play it again, Sam, and on the Casablanca piano Sotheby's (BID) is about to auction.

And speaking of Rick's place, Rick's Cabaret (RICK) is out with earnings today, along with London Mining (PINK:LIIGY), North West Company (NWC), Ocean Power Technologies (OPTT), and Oxygen Biotherapeutics (OXBT).

Adobe Systems (NASDAQ:ADBE): Shares in the maker of Flash and Acrobat are up 5% before the bell. It has been upgraded to Outperform from Underperform at JMP Securities, which believes reduced guidance do to the cloud transition removes an overhang.

Bazaarvoice (BV): BV gets upgraded to Outperform from Perform at Credit Suisse.

CVS Caremark (CVS): Shares are upgraded to Outperform from Neutral at Macquarie, which takes its target to $55 from $50.

Evercore (EVR): The stock is now Outperform from Market Perform at Keefe Bruyette.

Host Hotels & Resorts (HST): HST is hoisted to Buy from Neutral at Citigroup amid better valuation and fundamentals.

LaFarge (PINK:LFRGY): Shares are lifted to Buy from Neutral at Citigroup.

Marathon Oil (MRO): Goldman Sachs moves MRO to Buy from Neutral.

Raymond James (RJF): RJF is raised to Outperform from Market Perform at Keefe Bruyette.

Royal Dutch Shell (RDS.B): Shares are up in London after Credit Suisse moved it to Outperform from Neutral.

Ryder System (R): Shares are upgraded to Top Pick from Outperform at RBC Capital.

Sanofi-Aventis (SNY): The stock is boosted Buy from Hold at Jefferies.

WebMD Health (WBMD): Shares are upgraded to Market Perform from Underperform at Raymond James amid cost cutting actions.

(See also: New Stock Coverage: Microsoft Still Has Major Issues and Stock Downgrades: BP Still Unable to Bridge The Gulf.)
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