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Stock Upgrades: Fertilizer Stocks Pass Smell Test


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

MINYANVILLE ORIGINAL In a down market, Apple (AAPL) ended the week up 1.4% at $582.10, and is thus belatedly able to bump up the remuneration of its retail workers beyond the current $9 to $15 an hour. (No news yet on its employees in China, who must effectively make do on pennies per hour.) A new studied showed baby boomer kids shouldn't count on an inheritance, but where there's a Will there's a way. Just ask a prince who chose his parent particularly carefully.

Today in economics, analysts expect a slight increase in May new home sales at 10:00 a.m. Eastern. Quarterly earnings announcements are expected out of Apollo Group (APOL), H.B. Fuller (FUL), Park Electrochemical (PKE), and Synnex (SNX).

Boeing (BA): The Dow (^DJI) member is upgraded to Outperform from Perform with a $90 objective at Oppenheimer, which says investors under-appreciate mounting evidence that the 787 program has finally begun to find its footing.

Cellcom Israel (CEL): CEL is upgraded to Buy from Neutral at UBS.

Ethan Allen (ETH): Shares are upgraded to Strong Buy from Market Perform at Raymond James.

Fetilizer sector: Dahlman Rose upgrades the agricultural sector. CF Industries (CF) ($200 target), and Potash (POT) ($49) are now Buy from Sell. Agrium (AGU) ($98), and Mosaic (MOS) ($60) are among those boosted to Buy from Hold. Intrepid Potash (IPI) is hoisted to Hold from Sell.

Heartland Payment Systems (HPY): Shares are upgraded to Outperform from Perform at Robert W. Baird.

Iron Mountain (IRM): Shares get an Overweight-from-Equal Weight boost by Barclays.

Netflix (NFLX): NFLX is now Neutral from Sell at Janney Montgomery Scott.

NVIDIA (NVDA): Shares are upgraded to Buy from Hold at Canaccord Genuity, which takes its target up by $3 to $16. In-line results should distinguish NVDA from other PC-weighted names that appear likely to have near-term number cuts.

SanDisk (SNDK): Shares are higher before the bell on an upgrade to Buy from Neutral at Goldman Sachs.

Shaw Communications (SJR): The stock is now Neutral from Underperform at Macquarie.

(See also: New Stock Coverage: Michael Kors Dressed to Make a Killing and Stock Downgrades: Research In Motion Stuck in Rut.)
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No positions in stocks mentioned.
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