Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stock Upgrades: Pan American Silver Good as Gold


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

MINYANVILLE ORIGINAL Goldman Sachs (GS), which spent the summer of 2010 being compared to a "great vampire squid," gained 2.80% and Transocean (RIG), which also endured underwater distress in the Gulf of Mexico that year, similarly rose from the depths. It advanced 2.96% on a favorable court ruling in Brazil.

Speaking of Brazil, Gol Linhas Aéreas Inteligentes (GOL) jumped 9.58% and a soccer star graduate of DeVry (DV) University saw that stock climb 5.67% to top the S&P 500 Index (^GSPC). Fútbol fashionista David Beckham famously cost more than JPMorgan (JPM) spent buying Bear Stearns. Jamie Dimon was lauded for buying Bear on the cheap, but who's laughing now? Herbalife (HLF), sponsor of the sports star, added another 5.93% while the House of Morgan has just been hit with a 2008-era lawsuit. Investors may instead be better of betting the house on mortgage insurance outfit MGIC Investment (MTG), up 18.30%, or Nationstar Mortgage (NSM), which rose 5.15% to an all-time high.

No top-tier economic data due today but earnings announcements are expected out of Acuity Brands (AYI), Mosaic (MOS), Resources Connections (RECN), and Xyratex (XRTX).

Citigroup (C): C is upgraded to Outperform from Market Perform at Keefe Bruyette, whose target is $44 price. Catalysts include an improving Basel III capital ratio.

Cisco Systems (CSCO): The Dow (^DJI) member is moved to Buy from Neutral with a higher $24 target at MKM Partner, which says its product order rate has stabilized and should improve. International (CTRP): Shares are upgraded to Strong Buy from Market Perform at Raymond James.

Devon Energy (DVN): DVN is upgraded to Outperform at FBR Capital.

Kilroy Realty (KRC): Shares are upgraded to Hold from Sell at Cantor amid a more favorable valuation.

Kinross Gold (KGC): KGC gets upgraded to Outperform from Sector Perform at RBC Capital.

Lennar (LEN): Citigroup lifts LEN to Neutral from Sell amid "above-average growth [and] margins."

Liberty Media (LMCA): Shares are now Buy from Neutral at Citi.

Methanex (MEOH): Raymond James moves MEOH to Outperform from Market Perform.

Microchip (MCHP): Shares are upgraded to Buy from Hold at ThinkEquity.

Pan American Silver (NASDAQ:PAAS): The stock is upgraded to Buy from Hold at Deutsche Bank on expectations its cash flow could rise in 2013 due to higher silver prices. The target is also taken up, to $26 from $22.

PNC Financial (PNC): PNC is upgraded to Buy from Hold at Deutsche Bank.

XL Capital (XL): Shares are now Neutral from Sell at Goldman Sachs.

Zoltek (ZOLT): ZOLT is upgraded to Buy from Hold at Needham.

(See also: Stock Downgrades: Travelers Set to Head South? and New Stock Coverage: Hologic Makes Complete Cents.)
< Previous
  • 1
Next >
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos