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Stock Upgrades: TiVo Rewinds to Glory Days

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

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MINYANVILLE ORIGINAL In a drought-stricken summer that brought back unwelcome memories of Dust Bowl days, the Grapes of Wrath appeared not to adversely impact Constellation Brands (STZ), with the world's largest winemaker standing at an all-time peak after advancing some 68.2% since Memorial Day. Satellite navigation stock Garmin (GRMN) gained on Friday on an upbeat research rollout and has now climbed 20.34% over the past year. (Send some shares to Russell Crowe, for the man who starred as a ship's captain in Master and Commander appears to have lost his way.)

Neither the death of a noted matchmaker nor news that a Tiffany (TIF) spokeswomen and Russian superstar with a $250,000 ring has broken off her engagement could derail diamond bling specialist Zale Corp. (ZLC), which jumped 46.8%. Today in economics, the Institute for Supply Management's manufacturing index for August and July construction spending are each out at 10:00 a.m. Eastern. In earnings action, Campbell Soup (CPB) and Smithfield Foods (SFD) have already reported quarterly earnings this morning.

Big 5 Sporting Goods (BGFV): Shares are boosted to Overweight from Neutral at Piper Jaffray amid improving trends and the potential for accelerated earnings growth. The target price is also taken up, to $12 from $8.

ConAgra Foods (CAG): The firm, whose brands include Orville Redenbachers, Slim Jim, and Swiss Miss, is moved to Overweight from Neutral at JPMorgan.

GameStop (GME): GME gets upgraded to Buy from Neutral at Goldman Sachs.

Goldman Sachs (GS): The stock, downgraded elsewhere this morning, is upgraded by Crédit Agricole to Buy from Outperform. Catalysts include valuation and less balance sheet-risk. The price objective is increased to $142 from $111.

Humana (HUM): Leerink lifts the managed care outfit to Outperform from Market Perform, saying a Republican win in November could accelerate its Medicare Advantage growth opportunity.

Informatica (INFA): Shares are upgraded to Outperform from Neutral at Robert W. Baird.

International Business Machines (IBM): The Dow (^DJI) member is up ahead of the opening bell on a boost to Overweight from Equal Weight by Barclays, which takes its target up to $240 from $208.

Marvell Technology (MRVL): MRVL gets moved to Neutral from Reduce at Nomura.

Medicis Pharmaceutical (MRX): Shares are now Neutral from Underperform at Credit Suisse.

Morgan Stanley (MS): Shares are upgraded to Overweight from Neutral at JPMorgan with a $20 price objective.

News Corp. (NWSA): Barclays boosts the media empire to Overweight from Equal Weight.

Nomura (NMR): NMR is now Neutral from Underperform at Macquarie.

NYSE Euronext (NYX): Shares are upgraded to Outperform from Mkt Perform at Keefe Bruyette.

TiVo Inc. (TIVO): The stock is surging before the bell on an upgrade to Overweight from Neutral at JPMorgan.

(See also: Stock Downgrades: Coal Stocks Not Hot and New Stock Coverage: Getting a Kick Out of Manchester United.)

(See also: SEC Says Retail Investors Are Clueless About Stocks.)
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.

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