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Stock Upgrades: Time to Say Hello to Tata Motors?


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

MINYANVILLE ORIGINAL Italian love-seat maker Natuzzi (NTZ) rose 10.31% to top the NYSE and Pacific Sunwear of California (PSUN) - whose state's economy, in what can't be considered a compliment, is often compared to Italy - gained 10.97%. Elsewhere a client of online matchmaker eHarmony won $900,000 after a dentist gave her herpes. Far safer to invest in Chinese competitor (DATE), which just jumped 8.28%. Today in economics, the Fed's beige book survey of regional economic conditions is released at 2:00 p.m. Eastern. In earnings action, Annie's Inc. (BNNY), Brown-Forman (BF-B), Cyberonics (CYBX), Harry Winston Diamond (HWD), Men's Wearhouse (MW), Stewart Enterprises (STEI), and Vail Resorts (MTN) are all due to report results.

Chesapeake Energy (CHK): The company is upgraded to Hold from Sell at Argus, which views the planned changes at the board level following Carl Icahn's investment on May 25 as an incremental positive.

Continental Resources (CLR): CLR is upgraded to Buy from Hold at Jefferies.

Dick's Sporting Goods (DKS): Shares are upgraded to Outperform from Market Perform with Wells Fargo.

Equity Lifestyle Properties (ELS): ELS is lifted to Buy from Hold at Cantor Fitzgerald, whose price objective is $75.50. Their businesses are seen as appealing in the context of a lower-growth economy.

Forest Oil (FST): Shares are upgraded to Buy from Hold at Canaccord Genuity.

Groupon (GRPN): GRPN gets hoisted to Hold from Sell at Stifel Nicolaus, which says investors have already discounted the risk of the accounting revisions.

Homebuilders: PulteGroup (PHM) and Ryland Group (RYL) are each upgraded to Outperform from Neutral at Credit Suisse.

Hess (HES): The oil outfit is upgraded to Buy from Accumulate at Tudor Pickering.

Louisiana-Pacific (LPX): LPX is taken to Hold from Reduce at TD Securities

LVMH Moët Hennessy Louis Vuitton (LVMUY): Shares in the French luxury firm are up sharply in London this morning after HSBC Securities upgraded it to Overweight from Neutral. Catalysts include a potential share buy back.

Northeast Utilities (NU): NU is now Buy from Hold at Deutsche Bank.

NuVasive (NUVA): NUVA is now Outperform from Sector Perform at RBC Capital.

ShangPharma (SHP): Shares are upgraded to Outperform from Neutral at Cowen & Company.

Shuffle Master (SHFL): The stock is boosted to Buy from Neutral at Janney Montgomery Scott.

Tata Motors (TTM): The Indian auto outfit is taken to Hold from Sell at Deutsche Bank.

Vera Bradley Inc (VRA): KeyBanc capital gives the handbag maker a Buy-from-Hold boost, citing a differentiated brand offering and square footage growth. Its price objective is $26.

(See also: New Stock Coverage: Cash America No Pawn Star and Stock Downgrades: Ryanair Set for Hard Landing.)
No positions in stocks mentioned.
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