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Stock Upgrades: Fertilizer Stocks Pass Smell Test

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

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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.)
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.

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