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: Bank of America Back in Business?


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

MINYANVILLE ORIGINAL As stocks nosedive, bonds are up over 7% in a month, with the 10-year yield at its lowest level since records began in the early 1800s. That recent farewell to fixed income now looks a little premature. Elsewhere the Greeks declared themselves the hardest working people in Europe. Meanwhile Prince Philip, the British Queen's Greek-born husband, takes today and tomorrow off for a national holiday in England. Her Majesty will be troubled by last week's 20.53% tumble in loose-leaf specialist Teavana Holdings (TEA). Not to mention a 7.2% slide in Align Technology (ALGN), whose teeth-straightening technology is much loved by the monarchy. Today in economics, April factory orders are expected to tick up at 10:00 a.m. Eastern. In earnings action, American Superconductor (AMSC), Dollar General (DG), Gold Reserve (GRZ), Hooker Furniture (HOFT), Shuffle Master (SHFL), and Zuoan Fashion (ZA) are all due to report results.

Bank of America (BAC): The blue chip gets an Overweight-from-Equal Weight boost with Evercore Partners.

Boeing (BA): The stock, also in the Dow, is moved to Buy from Hold at Stifel Nicolaus on account of both valuation and expected strength in the aerospace cycle. Its price objective is $80.

Buckeye Technologies (BKI): BKI is upgraded to Buy from Neutral at UBS.

Healthsouth (HLS): Shares are upgraded to Outperform from Market Perform at Wells Fargo.

KAR Auction Services (KAR): KAR gets raised to Outperform from Perform with a $21 target price at Robert W. Baird, which cites its deep network of buyers and sellers, property zoned for salvage, and valuable internet assets.

Pioneer Natural Resources (PXD): Shares are upgraded to Hold from Sell at Société Général.

Smart Balance (SMBL): The stock is upgraded to Buy from Hold at Canaccord Genuity.

SunTrust Banks (STI): STI is upgraded to Overweight from Equal Weight at Evercore.

Synta Pharmaceuticals (SNTA): Shares are surging before the bell on an upgrade to Outperform from Market Perform at BMO Capital.

(See also: New Stock Coverage: WageWorks Hits Pay Dirt and Stock Downgrades: No Miracle on 34th Street for Macy's.)
< 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