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Stock Upgrades: Yelp Stock a Screaming Buy?


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

MINYANVILLE ORIGINAL Nasdaq's (^IXIC) decision to ask Blue Nile (NILE) to start its stock trading, and on an iconic day in Egyptology, proved inspired, notwithstanding that the Cairo stock market cratered 10% amid Mohamed Morsi's political pyramid schemes on Sunday. While the other major averages ended down, the tech-heavy index enjoyed its sixth straight up session.

Tiffany (TIF) gained 2.05% even as an eight-time recipient of its wedding rings was just butchered by a ham actress famous only for being famous. In analyst action, an upbeat initiation sent Apple Inc (AAPL) climbing 3.15%, which should please Kenny The Clown. Alas, there were only tears for his cousin Ronald McDonald (MCD), which ended off 0.93% after less positive research chatter.

Today in economics, an increase is anticipated in the Conference Board's November consumer sentiment survey at 10:00 a.m. Eastern. In earnings action, results are expected out of ADT Corporation (ADT), Analog Devices (ADI), China Sunergy (CSUN), Guidewire Software (GWRE), Green Mountain Coffee Roasters (GMCR), PVH Corp. (PVH), and Ralcorp (RAH), which was bought by ConAgra (CAG) for about $5 billion earlier this morning.

Eaton Vance (EV): EV is upgraded to Outperform from Sector Perform at RBC Capital, which cites recent acquisitions and management's shift in strategy. The price objective is also increased, by $6 to $36.

Exelon (EXC): The nuclear power play gets upgraded to Buy from Neutral at ISI Group.

Genesee & Wyoming (GWR): RBC Capital, citing improved Australian operations amid other catalysts, raises the railroad to Outperform from Sector Perform and also takes its objective up by $14 to $90.

Interpublic (IPG): The advertising giant gets added to the Best Ideas List with Wedbush.

Royal Bank of Scotland (RBS): Shares are sharply higher in today's London trading on the back of a Buy-from-Neutral boost at UBS, which notes its restructuring efforts are progressing nicely.

Yelp Inc. (NYSE:YELP): The stock is up before the bell on a hoist to Buy from Hold at Cantor Fitzgerald, which says a recent sell-off ignores a still-strong brand and local ad business.

(See also: Stock Downgrades: Time to Disown and New Stock Coverage: Crocs Kicks Into High Gear.)
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No positions in stocks mentioned.
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