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Stock Upgrades: Buckeye Is a Bull's Eye


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

MINYANVILLE ORIGINAL Madrid may be awash in red ink but the nation's top newspaper stock, Promotora de Informaciones (PRIS-B), ended in the black to the tune of 23.40% in posting the NYSE's strongest showing. The Brits famously favor beans, not butter, on their toast and thus missed out on a 16.47% upgrade-related surge in Smart Balance (SMBL) spread. Starbucks (SBUX), branching out beyond bugs, advanced 3.36% after announcing the $100 million acquisition of a bakery chain. And Nathan's Famous (NATH) franks surged 6.00% to an all-time high; clearly there is no austerity diet for either its shareholders or a contestant who just downed a dozen hot dogs. Today in economics, analysts expect May's Institute for Supply Management Index services index to slip slightly at 10:00 a.m. Eastern. On the earnings front, American Woodmark (AMWD), Bob Evans Farms (BOBE), Christopher & Banks (CBK), Mattress Firm Holding (MFRM), and Oxford Industries (OXM) are all due to report results.

Buckeye Technologies (BKI): Shares are upgraded to Outperform from Sector Perform at RBC Capital.

Chesapeake Utilities (CPK): The company is upgraded to Outperform from Neutral at Robert W. Baird, whose target is $48. They say upside exists if an economic recovery boosts customer growth in its natural gas distribution operations back to above-industry averages.

China Petroleum (Sinopec) (SNP): Shares are upgraded to Buy from Hold at Jefferies.

Comerica (CMA): The company is hoisted to Hold from Sell at Stifel Nicolaus.

Fusion-io (FIO): The stock is up before the bell on an upgrade to Buy from Neutral at Sterne Agee.

Marvell Technology (MRVL): MRVL is moved to Market Perform from Underperform at JMP Securities.

Piedmont Natural Gas (PNY): PNY perks up to Outperform from Neutral at Robert W. Baird.

Photronics (PLAB): The equity is now Buy from Neutral at Mizuho.

(See also: Stock Downgrades: Advanced Semiconductor in Retreat and New Stock Coverage: Iron Mountain Scaling the Peaks.)
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