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Stock Upgrades: Tiffany's Time to Shine


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

MINYANVILLE ORIGINAL On the high seas there was mixed news for two countries drowning in debt. Athens' own Aegean Marine Petroleum Network (ANW) jumped 5.01%, but Spain, which recently wrestled 17 tons of treasure from Odyssey Marine Exploration (OMEX), won't be pleased to see that stock leap 17.08%. Elsewhere in Europe's troubled economy, it emerged that Sicily, whose governor is under investigation for possible Mafia ties, may be the next debt domino to drop. A horse's head in the bed is the last thing needed over at Mattress Firm Holding (MFRM), which tumbled 12.80%.

This morning at 10:00 a.m. Eastern Ben Bernanke concludes his semi-annual testimony to Congress, and the Fed's Beige Book survey of regional economic conditions is released at 2:00 p.m. Hump day of peak week for Q2 earnings is here, with American Express (AXP), Bank of America (BAC), Credit Suisse (CS), eBay Inc. (EBAY), and International Business Machines (IBM) among a multitude of announcements.

CSR plc (CSRE): The British semiconductor stock, downgraded elsewhere this morning, also scores an upgrade. It is now Neutral from Reduce at Natixis.

Enerplus Resources Fund Trust (ERF): The stock is upgraded to Equal Weight from Underweight at Barclays.

Hillshire Brands (HSH): HSH is upgraded to Outperform from Neutral at Credit Suisse.

Linde Group (LNEGY): Goldman Sachs gives the German engineering outfit a Buy-from-Neutral boost.

NCR Corp (NCR): Shares are now Buy from Hold at Compass Point.

Oshkosh Truck (OSK): Jefferies juices its rating to Buy from Hold.

Repsol SA (REPYY): RBC Capital raises its recommendation on the Spanish oil firm to Top Pick.

Tiffany (TIF): Citing both earnings power and an attractive brand, Goldman takes TIF to Buy from Neutral with a $70 target. The stock is up before the bell this morning as a result.

Vivus (VVUS): Shares are upgraded to Hold from Underperform at Jefferies.

(See also: Stock Downgrades: Caterpillar Not Playing in Peoria and New Stock Coverage: Is Aflac All It's Quacked Up to Be?)
No positions in stocks mentioned.
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