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Stock Upgrades: Deere Set to Make Some Dough


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

MINYANVILLE ORIGINAL Investors in homebuilder PulteGroup (PHM) avoided taking a bath as its stock surged 11% although for inhabitants of Drowntown Abbey, there was water water everywhere. But not a drop to drink in the case of Goldman Sachs (GS), whose 7.9% gain should surely be enough to provide for new pipes.

Kansas-based Sprint (S) increased 18%, and Sunflower State farmers were similarly counting the cash as corn prices reached a record high. Last year's debacle over the debt ceiling, whose anniversary arrives this week, was corny as Kansas in August. Far better to avert one's gaze from the ceiling and simply stare at the floor, especially after Lumber Liquidators (LL) skyrocketed 24.78%.

Aeropostale (ARO): ARO is upgraded to Outperform from Sector Perform at RBC Capital amid improved merchandise. The target is taken to $30 from $21.

Arch Coal (ACI): Shares are now Buy from Neutral at Global Hunter, whose objective is $18.

Barclays (BCS): Société Générale boosts the bank, recently buffeted by a Libor scandal, to Buy from Hold, sending shares up in London this morning.

Cash America (CSH): The world's largest pawn shop operator, which last week endured its steepest slide in 7 years, is now Buy from Neutral with a $42 target price at Janney Capital.

Chico's FAS (CHS): CHS is upgraded to Overweight from Neutral at Piper Jaffray.

Ciena (CIEN): The stock gets hoisted to Hold from Underperform at Jefferies on high hopes for strong July quarter results.

Con-way (CNW): CNW is raised to Outperform Neutral with a $43 target at Robert W. Baird.

Deere (DE): Shares are upgraded to Overweight from Neutral at Piper Jaffray amid a strong summer delivery schedule. The target is taken up to $93 from $85.

Eldorado Gold (EGO): EGO gets upgraded to Buy from Hold at Stifel Nicolaus.

Gaylord Entertainment (GET): GET gets upgraded to Outperform from Market Perform with Wells Fargo.

Helmerich & Payne (HP): Canaccord Genuity hoists HP to Buy from Hold.

Noble Energy (NBL): NE is now Outperform from Perform at FBR Capital.

PetroLogistics (PDH): Shares are upgraded to Buy from Neutral at Citigroup.

Phillips 66 (PSX): Barclays boosts the stock to Overweight from Equal Weight.

Siliconware Precision (SPIL): Shares are now Overweight from Neutral at HSBC Securities.

(See also: Stock Downgrades: Bad Case of the Mondays for JPMorgan and New Stock Coverage: Flowers Foods Not Yet Coming Up Roses.)
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No positions in stocks mentioned.
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