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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.

MINYANVILLE ORIGINAL London basked in an excellent Olympics but its banks continue to suffer reputational risk, with Standard Chartered (SCBFF) accused of being in bed with Iran even as Libor and money laundering scandals are still fresh at both Barclays (BCS) and HSBC Holdings (HBC). Not that American institutions fared much better, with the Postal Service losing $5.2 billion, Social Security checks going to the Great Beyond, and the Labor Department releasing key data a day early.

SodaStream International (SODA), based in Israel's Ben Gurion Airport, reported its Q2 revenue soared 49%; better book those flights fast. Ben Bernanke extolled the virtues of Bhutan, which long ago abandoned GDP for an index of Gross National Happiness. Denmark is the happiest country on of them all, and strong sales of Danish brand Skagen contributed to much mirth at Fossil (FOSL) as it gained 30.11%.

No top-tier economic data due today but quarterly earnings announcements are expected out of Groupon (GRPN), InterOil Corp. (IOC), Sysco Corp. (SYY), and Transcept Pharmaceuticals (TSPT).

Bed Bath & Beyond (BBBY): BBBY is boosted to Buy from Hold at Canaccord Genuity, whose target is taken to $75 from $71.

Campbell Soup (CPB): The stock is upgraded to Conviction Buy at Goldman Sachs.

Containerboard Stocks: International Paper (IP) and Packaging Corp (PKG) are upgraded to Outperform from Neutral at Credit Suisse. Industry checks indicate price hikes are likely to succeed.

Copano Energy (CPNO): CPNO is now Neutral from Reduce at Global Hunter.

Fiserv (FISV): Shares are upgraded to Overweight from Neutral at JPMorgan.

Google (GOOG): GOOG gets upgraded to Overweight from Equal-Weight at Morgan Stanley.

Heartland Payment Systems (HPY): JPMorgan hoists HPY to Overweight from Neutral.

J.M. Smucker (SJM): The stock is upgraded to Buy from Neutral at Goldman.

Ross Stores (ROST): ROST is raised to Overweight from Neutral at Piper Jaffray.

Sprint Nextel (S): Shares are upgraded to Buy from Neutral at Bank of America-Merrill Lynch.

Stoneridge (SRI): The stock is surging before the bell on an upgrade to Buy from Neutral at B. Riley.

Symantec (SYMC): Shares are added to the Top Picks Live list at Citigroup.

Virtusa (VRTU): JPMorgan moves the IT stock to Overweight from Neutral.

WNS Holdings (WNS): The business services outfit is boosted to Neutral from Underweight at JPMorgan.

(See also: New Stock Coverage: Five Below Not Hot Stock and Stock Downgrades: Coke Not Quenching Summer Thirst.)
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No positions in stocks mentioned.
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