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Stock Upgrades: Research In Motion Going Places Again

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

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MINYANVILLE ORIGINAL Stocks took Sandra Boynton's iconic advice to heart, with the Dow Average (^DJI) ending up 3.35% in truncated Turkey Week trading. Nokia (NOK) jumped 31% for its best five-day showing since 1992. Surely even its infamously dour co-founder could crack a celestial smile over such a showing, but sadly misnamed Best Buy (BBY) CEO Hubert Joly was all frowns as his stock slumped 15% in posting the S&P 500's (^GSPC) poorest performance.

Firearms firm Sturm, Ruger & Co. (RGR) surged 13.5% to hit a half-year high and we sadly said goodbye to the man who knew from firsthand experience exactly "Who shot J.R.?" And Ben Bernanke went before the Economic Club of New York to lament he no longer "has the tools to offset" our fiscal cliff. If only the Fed head went shopping at Lowe's Cos. (LOW), with the home improvement retailer rising 9.9% on the week.

No top-tier economic data due today, but Berry Plastics (BERY), Big Lots (BIG), Jos. A. Bank Clothiers (JOSB), and Seadrill (SDRL) are all expected to post quarterly earnings.

Abercrombie & Fitch (ANF): Janney Capital Markets adds the recently surging clothing company to its Best Ideas list. Channel checks indicate that the company is on the brink of a material turnaround.

AK Steel (AKS): Shares are upgraded to Neutral from Sell at UBS.

Anadigics (ANAD): The microcap gets moved to Buy from Hold at Needham, whose price target is $2.50.

Barclays (BCS): JPMorgan moves the British bank to Overweight from Neutral on expectations its balance sheet restructuring can unlock shareholder value.

Broadcom (BRCM): Shares get a Buy-from-Hold hoist at Benchmark, which says it should deliver 3% organic revenue growth.

DSW Inc. (DSW): Keybanc takes the shoe stock to Buy from Hold amid improving margin prospects. Its price objective is $81.

Eaton Corp. (ETN): ETN is now Neutral from Underweight at Atlantic Equities, based on the pending Cooper Industries (CBE) acquisition.

Exelon (EXC): Encouraged by a recent strengthening of gas prices, Deutsche Bank boosts the nuclear power play to Buy from Hold and also takes its target up by $1 to $34.

Facebook (FB): Sanford Bernstein boosts the stock to Outperform from Perform on its belief consensus revenue growth estimates underestimate upcoming growth potential. The target is taken up by $10, to $33.

Imperial Oil (IMO): Shares are upgraded to Perform from Underperform at CIBC World Markets.

James River Coal (JRCC): The stock is up before the bell on a lift to Outperform from Perform at Raymond James.

Knight Capital Group (KCG): Shares are upgraded to Market Perform from Underperform at Keefe Bruyette, which has a $2.60 price target.

Lockheed Martin (LMT): The defense stock is lifted to Outperform from Perform by Bernstein.

Research In Motion (NASDAQ:RIMM): The recently surging stock, left for dead not long ago, is today taken to Outperform from Perform at CIBC World Markets, which has high hopes for the upcoming BlackBerry 10 launch. Its target is taken to $17 from $8.

Yahoo (YHOO): Shares, recently trading at fresh 52-week peaks, get upgraded to Conviction Buy from Buy at Goldman Sachs, which notes "less pessimistic expectations" for the company's core search business. The stock is up ahead of the open as a result.

(See also: New Stock Coverage: Apple Stops the Rot and Stock Downgrades: McDonald's Stock Set to Slim Down.)
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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