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Stock Upgrades: General Motors Company Is on Road to Riches

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

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New York may be the city that never sleeps, but were it not for Big Apple-based Citigroup (C), which surged 1.97% on impressive earnings, Wall Street would have slept-walked through the lightest trading day of 2013. The bank isn't actually, as our nation's newspaper would have it "one of the 30 blue-chip components in the [Dow Jones (^DJI)] index", but its halo effect did help send blue chips to yet another record. China growth slowed yet Bank of America-Merrill Lynch (BAC), which knows how to tread carefully in such shops, turned more bullish, raising its year-end S&P 500 (^GSPC) target to 1,750 from 1,600. For those who prefer fine jewelry to fine china, a broker boost saw Tiffany (TIF) surge 3.58%. Its stock, now up 39% this year alone, is no longer such a steal. As it were. And amid all the ebullience in equities, beleaguered bonds have finally caught a bit of a break. If this morning is any indication, Treasuries may record their third increase in four sessions. Treasury Wines? Not so hot.

Today's quarterly earnings announcements are due to include Charles Schwab (SCHW), Coca-Cola (NYSE:KO), CSX Corp (CSX), Goldman Sachs (GS), Johnson & Johnson (JNJ), Mosaic (MOS), Rio Tinto (RIO), and Yahoo (YHOO).

Baidu.com (BIDU): The Chinese Internet stock is boosted to Neutral from Sell at Citigroup.

Daimler (DDAIF): Société Générale gives the German car giant, up over 10% last week, a boost to Buy from Hold.

Deutsche Lufthansa (DLAKY): Shares are up almost 2% in today's European trading after getting upgraded to Neutral from Sell at Goldman Sachs.

Exchange Operators: Interactive Brokers (IBKR) and NYSE Euronext (NYX) are each upgraded to Outperform from Market Perform by Keefe Bruyette.

General Motors Company (GM): The auto giant gets added to Goldman Sachs' list of Conviction Buys. Shares, up 86.03% in the past year, reached a fresh 52-week peak yesterday. Upcoming catalysts are not yet fully appreciated by the market, the bank believes.

Kinder Morgan Partners (KMP): Credit Suisse increases its investment opinion to Outperform from Market Perform.

KingFisher plc (KGFHY): The home improvement name is now Neutral from Sell at Nomura.

MedAssets (MDAS): MDAS gets moved to Buy from Hold at Jefferies.

OraSure (OSUR): The stock is taken to Outperform from Market Perform at Cowen.

Perfect World (PWRD): Shares are upgraded to Buy from Neutral at Citigroup.

Resolute Forest Products (RFP): RFP is raised to Sector Perform from Perform at RBC Capital.

Spectrum Pharmaceuticals (SPPI): Securities moves the stock to Outperform from Perform.

(See also: Stock Downgrades: Stamps.com Inc. Takes a Licking and New Stock Coverage: Facebook Inc Finds a Friend.)
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.

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