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Stock Upgrades: Chiquita Brands International Inc Won't Drive You Bananas

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

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It's just as well Twinkies are about to return to store shelves, for investors are already experiencing serious withdrawal symptoms from the abrupt end of the Fed's sugar rush. (Especially as Paula Deen is no longer around to dispense her heartfelt diabetes advice.)

Ben Bernanke calling his actions akin to "letting up a bit on the gas pedal as the car picks up speed" not only sent Peugeot (PEUGY) plunging 12% and Daimler (DDAIF) dropping 8.7%, it sent stocks crashing everywhere else.

Utilities fell 4.2% as that yield-bearing sector continued to correct even as the man who put the crooked "e" in onetime industry darling Enron secured an early release from his correctional facility. A similarly disgraced ex-big wig at the IMF saw his house sell for big bucks, but the homebuilding space saw no halo effect, tumbling by the most in 12 months.

And the world got its first look at The Wolf of Wall Street. With Wall Street having been released just in time for the crash of '87, and The $treet hitting our TV screens as the tech wreck of 2000 occurred, investors should be very afraid.

There are no top-tier economic reports or earnings announcements expected today, although the pace of each will pick up notably as the week progresses.

Advanced Micro Devices, Inc. (ADM): FBR Capital raises its rating to Outperform from Market Perform and also takes its price objective up to $5.50 from $3.00. Catalysts include a timely shift toward microservers and custom embedded processors.

Chiquita Brands International Inc (CQB): BB&T Capital upgrades the fruit firm to Buy from Hold.

Chuy's Holdings Inc (CHUY): Shares get upgraded to Neutral from Underperform with Wedbush.

Digital Realty Trust, Inc. (DLR): The stock is now Neutral from Sell at UBS.

Exchange Operators: Goldman Sachs gives upgrades to CBOE Holdings, Inc. (CBOE) (Buy from Neutral) and CME Group Inc (CME) (Neutral from Sell.)

Financials: Charles Schwab Corp (SCHW) gets an unusual 180 degree (Buy from Sell) upgrade at Citigroup, which increases Eaton Vance Corp (EV) to Neutral from Sell and takes T. Rowe Price Group, Inc. (TROW) to Buy from Neutral.

First Solar, Inc. (FSLR): Maxim moves the stock to Hold from Sell as the current price provides an attractive entry point, in its view.

Graco Inc. (GGG): Shares get upgraded to Neutral from Sell at Goldman Sachs.

PHH Corporation (PHH): Saying the company represents a potential takeover target, Compass Point boosts shares to Buy from Neutral. Its target price, previously $22, increases to $26.

Portland General Electric Company (POR): The stock gets upgraded to Buy from Neutral at Goldman.

TIBCO Software Inc. (TIBX): TIBX is hoisted to Buy from Long-Term Buy at Hilliard Lyons.

Westlake Chemical Corporation (WLK): Shares are upgraded to Outperform from Market Perform with a new $112 target at Cowen amid increasing ethylene margins.

(See also: New Stock Coverage: First Solar, Inc. Basks in Summer Sun and Stock Downgrades: Slap in the Face for Botox Maker Allergan, Inc.)
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No positions in stocks mentioned.
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