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Stock Upgrades: Time to Buy Fly Leasing


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

MINYANVILLE ORIGINAL J-Lo was apparently happy to be "HOME!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!" last week but the failure of John Boehner's well, Back Up Plan, sent stocks slumping and the House home alone for the holidays. Amid the mayhem NYSE Euronext (NYX) surged 39.13% after being bought IntercontinentalExchange (NYSE:ICE), a cool cat from Hotlanta that coveted its London International Financial Futures and Options Exchange. (Europe has a future? Who knew?)

Diet drug maker Vivus (VVUS) jumped 18.61% but Santa will still have issues squeezing down the chimney tonight. No such problems for financially tortured Spain, whose jackpot known as "El Gordo" (The Fat One) just awarded a first prize of €4.4m.

Stock markets can't wait to split this afternoon, closing early at 1:00 p.m. Eastern, and neither can Nike (NKE), which splits 2:1 in the form of a 100% stock dividend payable today. There are no quarterly earnings of note.

Fly Leasing (NYSE:FLY): The jet aircraft outfit is upgraded to Buy from Neutral at Citigroup, which sees increased opportunity following a recent share price pullback. Its new price objective is $13.20.

Kilroy Realty (KRC): Shares are boosted to Buy from Hold with a $52 target price at Stifel Nicolaus, which cites the recently announced $600 million build-to-suit development.

TransMontaigne Partners (TLP): Stifel Nicolaus lifts the limited partnership to Buy from Hold based on increased visibility into cash flow and potential distributions The target is $41.

Price Objective Increases: Needham, while keeping their overall ratings unchanged on each, nonetheless boosts price targets for both Facebook (FB) and Yahoo (YHOO). The former goes from $33 from $25 as, "In our view, buying it now would enable investors to participate in the potentially significant incremental returns on capital", analysts wrote in a note. The latter is lifted to $26 from $19 with the risk-reward ratio increasingly "attractive."

(See also: Stock Downgrades: Pinnacle Entertainment Falls From Summit and New Stock Coverage: General Motors Enjoys Life in the Fast Lane.)
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No positions in stocks mentioned.
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