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Stock Upgrades: Find Room in Your Portfolio for Extra Space Storage, Inc.


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

In the week pen maker A.T. Cross (ATX) surged some 11.62% even as most other equities sank, the writing was clearly on the wall for Wall Street. (It certainly was for the suddenly single owner of News Corp. (NWSA), whose newly revamped handwritten logo was said by one graphologist to be "filled with stress.")

Stateside stocks slumped for a third week in four amid a widening worldwide tale of woe. Greece gaped down another 6.8% after an unprecedented demotion to "emerging market" status. A fate that we in America are apparently also about to enjoy.

Zale Corporation (ZLC), which bills itself as "America's diamond store since 1924,″ jumped 9.55% with the month of June's matrimonial magic at its midpoint. That poor fellow who inadvertently sold his wife's $23,000 wedding ring in a $10 yard sale had better hope his marriage is stronger than the Murdoch's, however.

And with tear gas in Turkey's Taksim Square, Jay Gatsby similarly started crying after a first edition Great Gatsby failed to bring in the expected amount. Misery clearly loved company, for bookseller Barnes & Noble (BKS) was equally maudlin on its earnings-related sell off.

Century Aluminum Co (CENX): Morgan Stanley moves the commodity company to Equal-Weight from Underweight.

CIT Group Inc. (CIT): Drexel Hamilton raises the financial firm to Buy from Hold.

Comcast Corporation (CMCSA): Shares get upgraded to Strong Buy from Outperform at Raymond James.

Compagnie Financiere Richemont SA (CFRUY): The luxury goods firm, whose blingy brands include Cartier, is up nicely in Paris this morning following an increase to Overweight from Neutral at HSBC Securities.

Cypress Investments Inc (CYS): Impressed with the company's risk:reward profile, Wunderlich gives it a boost to Buy from Hold and establishes a price objective of $12.

Fidelity Southern Corporation (LION): LION is lifted to Outperform from Market Perform by Keefe Bruyette.

Heartland Payment Systems, Inc. (HPY): Piper Jaffray juices its investment opinion to Overweight from Neutral.

Koninklijke Philips NV (ADR) (PHG): The Dutch electronics giant is trading sharply higher overseas this morning on a Buy-from-Hold hoist at Deutsche Bank.

ProLogis Inc (PLD): The industrial Real Estate Investment Trust is taken to Outperform from Market Perform with Wells Fargo.

Ryman Hospitality Properties, Inc. (REIT) (RHP): JPMorgan moves the Real Estate Investment Trust to Overweight from Neutral.

Spectra Energy Partners, LP (SEP): The limited partnership gets lifted to Outperform from Market Perform at Raymond James.

Storage Stocks: Extra Space Storage, Inc. (EXR) is upgraded to Strong Buy from Outperform at Raymond James, which raises
Public Storage (PSA) to Outperform from Market Perform.

TIBCO Software Inc. (TIBX): Wells Fargo takes the tech stock to Outperform from Market Perform.

(See also: New Stock Coverage: Tesla Motors Inc Is in The Driver's Seat and Stock Downgrades: Red Hat Inc Goes Cap in Hand.)
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