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Stock Upgrades: Pandora Media Inc Dialing Up Dollars

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

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Even as the world's mightiest roller coaster opened in Los Angeles, our other coast easily has it beat for ups and downs. Twenty-four hours after plunging by triple-digits, the Dow (^DJI) bounced back by the same amount amid encouraging economic data.

With Google (GOOG) honoring "God's architect," real estate stocks enjoyed an appropriately celestial showing as new-home sales hit their highest level in almost half a decade. Lam Research (LRCX) made investors rich, rising 3.82% on an analyst upgrade, but a fugitive from justice, Rich in every sense of the word, failed to outrun the Grim Reaper.

Elsewhere a financial big shot accused investors of "jumping the gun" and firearms firm Smith & Wesson (SWHC) advanced 3.74% ahead of earnings.

Today's corporate results are expected to include Bed Bath & Beyond (BBBY), General Mills (GIS), HB Fuller (FUL), Monsanto (MON), and Paychex (PAYX).

Adobe Systems Incorporated (ADBE): Jefferies takes the tech stock to Buy from Hold amid optimism over its "Creative Cloud" offerings.

Alliance Data Systems Corporation (ADS): Shares are now Buy from Neutral at Suntrust Robinson Humphrey.

Allot Communications Ltd (ALLT): Citing an improvement in orders and execution, Wunderlich increases its rating to Buy from Hold. The price objective, previously $13, is now $16.

ARM Holdings plc (ADR) (ARMH): The British firm, a key Apple Inc. (AAPL) supplier, is upgraded to Buy from Hold at The Benchmark Company, whose increased price target is $45. The SAM (Served Available Market) for its chips are expected to grow at a 9% compound annual rate through 2017.

Banco Santander, S.A. (ADR) (SAN): Shares are up about 2% in today's European trading after Citigroup boosted the Spanish financial firm to Neutral from Sell.

Buffalo Wild Wings (BWLD): Morgan Stanley moves the fast food stock to Overweight from Equal-Weight.

Comfort Systems USA, Inc. (FIX): KeyBanc Capital Markets moves the stock to Buy from Hold.

Health Net, Inc. (HNT): The stock gets upgraded to Outperform from Neutral at Credit Suisse.

Home Bancshares (HOMB): Hailing the company's "game changing" purchase of acquisition Liberty Bancshares, Wunderlich hoists HOMB to Buy from Hold. The target price also increases, by $8.50 to $29.

KeyCorp (KEY): BMO Capital Markets moves the money center bank to Outperform from Market Perform.

Lam Research Corporation (LRCX): A second upgrade in 24-hours for the firm, today lifted to Buy from Neutral at Bank of America-Merrill Lynch.

MGM Resorts International (MGM): Nomura moves the casino company to Buy from Neutral.

Pandora Media Inc (P): The Internet radio outfit, fresh from yesterday's 8.46% advance, is moved to Outperform from Neutral at Cowen this morning. Advertising revenue opportunities abound, the broker believes, and a competitive threat from Apple isn't overly concerning.

Rackspace Hosting, Inc. (RAX): RAX is raised to Outperform from Market Perform with Wells Fargo.

(See also: New Stock Coverage: Google Inc's Search Party Just Getting Started and Stock Downgrades: No Love in the Air for Southwest Airlines Co.)
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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