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Stock Upgrades: Jack in the Box Has Spring in Its Step


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

MINYANVILLE ORIGINAL Bed Bath & Beyond (BBBY), having hit an all-time high earlier in the week, slumped in its worst day since going public in 1992 -- an unimaginably distant age in which Arsenio Hall and Rodney King were in the headlines, Bill Clinton sucked up all the oxygen, and American wealth was a pittance compared to today's lofty levels. CarMax (KMX) cratered 7.24%, falling further into the red for the year. No wonder investors are flipping it the bird.

No top-tier economic data due this morning but Carnival Corp. (CCL) and Darden Restaurants (DRI) are expected to announce earnings.

Merck (MRK): The Dow member, which was the index's sole gainer yesterday, is added to the US Focus List at Credit Suisse.

Apartment Investment and Management (AIV): BMO Capital raises the residential REIT to Market Perform from Underperform.

Banco Latinoamericano (BLX): JPMorgan moves the Panamanian financial firm to Overweight from Neutral.

Corning (GLW): Shares are now Neutral from Underweight at JPMorgan.

Illumina (ILMN): Shares are added to the US Focus List at Credit Suisse.

Jack in the Box (JACK): Bank of America-Merrill Lynch lifts the fast food stock an unusual 180 degrees, to Buy from Underperform.

Kimberly-Clark (KMB): The Kleenex maker is upgraded to Buy from Hold with a $92 target at Argus, which says it enjoys especially strong prospects in emerging markets, where they expect it to benefit from rising incomes and birth rates.

Pep Boys (PBY): PBY is upgraded to Buy from Hold at Argus, whose target is $12.

SXC Health Solutions (SXCI): Shares are upgraded to Outperform from Neutral at Credit Suisse.

Tesoro Logistics LP (TLLP): JPMorgan takes TLLP to Overweight from Neutral.

The Fresh Market (TFM): The grocer gets upgraded to Overweight from Neutral at Piper Jaffray.

Volkswagen (VLKAY): The German auto giant, previously Buy rated, gets added to Goldman Sachs' Pan European Conviction Buy List.

Watson Pharmaceuticals (WPI): Shares are upgraded to Outperform from Market Perform by Sanford Bernstein.

(See also: Stock Downgrades: No Medal of Honor for Electronic Arts and New Stock Coverage: American Express is Off to the Races.)
No positions in stocks mentioned.
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