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Stock Upgrades: Time to Stop Blowing Raspberries at Lululemon?

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

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Investors who, in the aftermath of 2008, were adamant we would not see the Dow (^DJI) make a new high in a month of Sundays - that being an especially brutal day during the financial crisis - clearly never counted on Tuesday.

Blue chips rose to yet another record after advancing for a 17th straight Tuesday, an event that had never before occurred in an index established in 1896. Action Down Under helped send blue chips back over 15,000, as Australia's central bank reduced its interest rate to a record low.

The bull was being restrained in a current New Yorker cartoon, but he ran amok everywhere else, not least with a 4.17% surge in China Ceramics (CCCL). Soccer's Manchester United (MANU) rose 1.35% before this morning's news that its iconic manager is stepping down at a club he has coached since November 6, 1986. (The Dow, now 15,000, stood at 1,891.59 that day.) And speaking of sports, bowling behemoth Brunswick Corp (BC) jumped 3.86% on a broker boost. This as a woman now in her 95th year shows absolutely no intention of retiring from the pastime.

A quiet week for economic releases rolls on, with no top-tier data due. In earnings action, AOL Inc. (AOL), Deutsche Telekom (PINK:DTEGY), Green Mountain Coffee Roasters (GMCR), Groupon (GRPN), News Corporation (NWSA), Sodastream (SODA), Tesla Motors (TSLA), Telefónica (TEF), and Wendy's (WEN) are all expected to report results.

Ametek (AME): Shares are upgraded to Buy from Neutral at Citigroup.

Carrols Restaurant Group (TAST): Raymond James takes TAST to Strong Buy from Outperform.

European Aeronautic Defence and Space Company EADS (PINK: EADSY): The stock is upgraded to Outperform from Perform at Credit Suisse.

Grupo Televisa (TV): TV gets taken to Overweight from Equal-Weight at Morgan Stanley.

Hermès (PINK:HESAY): The last name in luxury is lifted to Neutral from Sell by fellow French firm BNP Paribas.

IAMGOLD (IAG): IAG gets upgraded to Buy from Hold at Canaccord.

JC Penney (JCP): The troubled retailer is today taken to Hold from Sell at Maxim

Louisiana-Pacific (LPX): Shares are upgraded to Neutral from Underperform at DA Davidson, whose target is now $19 from $18 after a solid first quarter.

Lowe's (LOW): Shares get upgraded to Buy from Neutral at ISI Group.

Lululemon Athletica (NASDAQ:LULU): Shares of the cult yoga clothing company, underwater over the past year amid a sheer pants problem, today get a Buy-from-Neutral boost at Sterne Agee. The broker believes that its transparent Luon issue will not do long-term damage to the brand, and the stock is accordingly up 1.6% as I write.

Marathon Oil (MRO): Macquarie moves the energy outfit to Outperform from Neutral.

Myriad Genetics (MYGN): Shares get upgraded to Buy from Neutral at Mizuho, which takes its target to $34 from $27 amid an improving risk-reward profile.

US Auto Parts (PRTS): Roth Capital raises its recommendation to Buy from Neutral.

(See also: New Stock Coverage: Spirit Airlines All Set to Levitate and Stock Downgrades: Bed Bath & Beyond Sleeps With the Fishes.)
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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