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Stock Upgrades: Looking Beyond Burberry's Recent Checkered Past


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

MINYANVILLE ORIGINAL In a week in which bald has been declared best, the man with the best hairline in the western hemisphere called the shots. James River Coal (JRCC) jumped 11.70% after Mitt Romney contended "I like coal." He also said "I like Big Bird" but has a funny way of showing it and one fears for the poor fellow after fried poultry firm Buffalo Wild Wings (BWLD) was just upgraded. Close cousin Kermit the Frog, who apparently also tastes like chicken, can of course attest it's not easy being green, and green car company Tesla Motors (TSLA) had better watch out after the ex-Massachusetts governor dissed it in Denver.

Meanwhile President Obama's listless performance in the debate fueled speculation moving vans will soon arrive at the White House and that, twinned with an analyst upgrade, sent yellow truck titan Ryder System (R) surging 5.99%.

Today in economics, analysts expect an expansion in August consumer credit at 3:00 p.m. Eastern. In earnings action, the world's largest winemaker Constellation Brands (STZ) reports results.

Atwood Oceanics (ATW): ATW is upgraded to Market Perform from Underperform at Raymond James, which says it is executing on its fleet expansion plans.

Automatic Data Processing (ADP): ADP is gets upgraded to Buy from Neutral at Goldman Sachs, which cites earnings power driven by product innovation. The target is also taken up, to $68 from $53.

Buffalo Wild Wings (BWLD): Shares are boosted to Outperform from Neutral with Wedbush, which says checks indicate continued comp momentum and menu price increases. The new price objective is $100, up from $78.

Burberry Group (PINK:BURBY) The luxury British brand, whose September profit warning send the stock sliding, is getting a lift in London trading today after being boosted to Overweight from Equal Weight with Morgan Stanley.

Fidelity National (FIS): Shares are upgraded to Outperform from Neutral at Robert W. Baird.

Gap Inc (GPS): GPS gets upgraded to Buy from Above Average at Caris & Company.

Owens-Illinois (OI): Goldman Sachs gives OI a Buy-from-Neutral boost, increasing its price objective by $8 to $29. Catalysts include an impressive capital allocation strategy and expected debt reductions.

Pep Boys (PBY): Shares get upgraded to Buy from Hold at The Benchmark Company, which says a possible debt refinance could provide catalysts for earnings improvement.

Thermo Fisher (TMO): TMO is taken to Outperform from Market Perform at Wells Fargo.

WisdomTree Investments (WETF): The stock is up ahead of the open after getting upgraded to Conviction Buy from Buy at Goldman Sachs, whose target is $9.

(See also: Stock Downgrades: Draw Something's Zynga Hung, Drawn, and Quartered and New Stock Coverage: Money Grows on Dollar Tree.)
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