Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Upgrades: Changing Tides Makes Procter & Gamble a Better Bet

By

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

PrintPRINT
A week that began with Tumblr is ending with I'll Tumble For Ya. Stocks slid for a second straight session amid Tokyo troubles and fears here of a hard landing for quantitative easing. Bucking a bad day for blue chips, an upgraded Hewlett-Packard (HPQ) surged some 17.10%. Its $3.63 advance took it above $24, the price paid for the entire isle of Manhattan on this very date in 1626. (Sorry Meg, but Mr. Minuit may have you beat there, especially adjusted for inflation.) Hot dog heavyweight Nathan's Famous (NATH) franks fell 3.40% even as it reopened in Coney Island. Thus does a bad week for Weiners conclude, as Anthony's Pittsburgh mix up promptly sent Steel City's own Alcoa (AA) plunging 1.73% to post the Dow's (^DJI) poorest performance.

Ahead of the long Memorial Day weekend, the bond market is scheduled to close early. On the corporate front, expect quarterly earnings announcements out of Abercrombie & Fitch (ANF), Destination XL Group (DXLG), Foot Locker (FL), Hibbett Sports (HIBB), Tsakos Energy Navigation (TNP), and UTStarcom (UTSI).

Alliance Data (ADS): Shares are upgraded to Outperform from Market Perform by William Blair.

DDR Corp. (DDR): Jefferies raises the retail Real Estate Investment Trust to Buy from Hold.

Gordmans Stores (GMAN): GMAN gets an Overweight-from-Neutral upgrade at Piper Jaffray.

Novo Nordisk (NVO): The Danish drug stock is now Buy from Neutral at Natixis.

Pandora Media (P): Shares, currently up 18.44% before the bell following impressive first quarter earnings, get increased to Outperform from Sector Perform at RBC Capital. Mobile monetization offers promise for the Internet radio outfit.

Procter & Gamble (NYSE:PG): A changing of the guard that sees AG Lafley return as CEO prompts UBS to boost the Dow (^DJI) member to Buy from Neutral. Its brands include Crest, Gillette, and Tide. In what looks like a weak overall open in equities, its shares are up about 2.92% as I write this morning.

RTI International Metals (RTI): Citigroup adds the stock to its Top Picks Live list.

Sherwin-Williams (SHW): Robert W. Baird raises its recommendation on the paint powerhouse to Outperform from Neutral with a $205 price objective (up from $180) after yesterday's constructive analyst meeting.

Wendy's (WEN): Janney Capital juices its investment opinion on the fast food firm to Buy from Neutral.

Whiting Petroleum (WLL): Shares are now Buy from Neutral at Suntrust Robinson Humphrey.

(See also: New Stock Coverage: Look at LeapFrog Jump and Stock Downgrades: Rue21 Exits Easy Street.)
< 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.
PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE