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Stock Upgrades: With a Name Like Smucker's, It Has to Be Good


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

The S&P 500 Index (^GSPC) suffered another case of the Mondays, falling to start the week for a fifth straight occasion. This after the average finished Friday with its six straight weekly increase, something that hadn't happens since the dog days of August. Indeed Wall Street - and certainly CNBC - seems to have happily gone to the dogs, what with Ruckus (RKUS) hitting an all time high and Zynga (ZNGA) adding to last week's 28.95% advance by gaining another 7.00%

Elsewhere Apple Inc. (AAPL) rose 1.04%, gaining for a third day after its new new thing takes its inspiration from a device unveiled…in 1931. (Hey, looking at Fossil's (FOSL) 2.41% before-the-bell surge after its revenues beat Street estimates this morning, wristwatches never get old.) And no wonder the Danes, previously planet Earth's happiest campers, are suddenly in a funk, for favorite son Novo Nordisk (NVO) nosedived 13.98%.

It's another quite quiet day in economic data, but corporate earnings announcements are expected out of América Móvil (AMX), Avon Products (AVP), Barclays (BCS), Buffalo Wild Wings (BWLD), Clearwire (CLWR), Cliffs Natural Resources (CLF), Coca-Cola (KO), Fossil (FOSL), Goodyear Tire & Rubber (GT), Huntsman (HUN), Level 3 Communications (LVLT), McGraw-Hill (MHP), Michael Kors (KORS), Rackspace (RAX), and ThyssenKrupp (PINK:TYEKF).

Armstrong World Industries (AWI): Shares are now Buy from Neutral at Citigroup, which also increases its price objective by $7 to $67. Tailwinds include an improving outlook for nonresidential construction.

Digital Realty Trust (DLR): The office REIT (Real Estate Investment Trust) is upgraded to Overweight from Equal Weight at Evercore.

Gold Fields (GFI): Citigroup raises the commodity company to Neutral from Sell.

Koninklijke Ahold (PINK:AHONY): The Dutch grocery giant gets an Overweight-from-Neutral hoist at HSBC Securities.

Las Vegas Sands (LVS): LVS is lifted to Buy from Hold at Argus, which highlights its Macau prospects driven by an improving Chinese economy among other favorable factors.

NetApp (NTAP): NTAP is now Buy from Hold at Brean Capital.

Norwegian Cruise Line (NCHL): The recent IPO (Initial Public Offering) is raised to Buy from Neutral at Nomura.

Novo Nordisk (NVO): Nomura takes the health-care name, whose shares slid 13.98% on Monday, to Buy from Neutral. Shares are rebounding somewhat ahead of this morning's opening bell.

Royal Gold (RGLD): RGLD is increased to Buy from Neutral at UBS.

J.M. Smucker (NYSE:SJM): The peanut butter powerhouse is upgraded to Outperform from Perform by Sanford Bernstein, which also increases its price objective to $107 from $92. The more upbeat view comes amid expectations for a margin rebound arising from declines in coffee costs, and a mix shift towards high margin K-Cups.

Subsea 7 SA (PINK:SUBCY): Shares get an Outperform-from-Perform boost by BNP Paribas.

Suburban Propane Partners (SPH): Bank of America-Merrill Lynch lifts the limited partnership to Buy from Neutral.

Walgreen (WAG): Mizuho moves the name to Buy from Neutral, taking its target price up to $46 from $39. Among the many upcoming catalysts are an imminent investor meeting in England emphasizing Alliance Boots, easing comparative store sales figures, and an uptick in its per share earnings growth rate.

(See also: New Stock Coverage: Get Your Kicks With Manchester United and Stock Downgrades: Facebook Fatigue Becoming Epidemic.)
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