Stock Upgrades: Fast Money Piles Into Zipcar
Apple Inc. (AAPL) enjoyed its single best session since the spring after an analyst characterized a recent sell off in the American institution as "insanely insane". (And we all know what kind of people populate institutions.) Its shares, up 7% in a day and down 7% in a month, could certainly be labeled skitzo. Elsewhere Intel (INTC), where Only the Paranoid Survive is falling 1.63% before the bell on a ratings reduction and the surprise departure of its CEO.
Grupo Casa Saba (SAB), a Mexican drug stock - – no, not that kind; it's a pharmacy chain - founded in 1892 advanced 11.34%. There must have been something in the air back then as Abercrombie & Fitch (ANF), also 120 years old, followed last week's 29.66% surge by adding on another 7.17%.
It's a fairly tepid Tuesday in economic data but Fed head Ben Bernanke speaks at the Economic Club of New York at 12:15 p.m. Eastern. On the corporate front, earnings announcements are expected out of American Woodmark (AMWD), Best Buy (BBY), Campbell Soup (CPB), Chico's FAS (CHS), easyJet (ESYJY), Hewlett-Packard (HPQ), H. J. Heinz (HNZ), Hormel Foods (HRL), Medtronic (MDT), salesforce.com (CRM), Signet Jewelers (SIG), and Zale (ZLC).
AK Steel (AKS): The recently slumping commodity company is now Neutral from Sell at Goldman Sachs.
American Axle (AXL): Jefferies juices its recommendation to Hold from Underperform.
Archer Daniels Midland (ADM): Shares are upgraded to Outperform from Market Perform by BMO Capital.
Boardwalk Pipeline (BWP): The limited partnership gets lifted to Outperform from Neutral at Credit Suisse.
Expedia (EXPE): The online travel outfit is taken to Equal-Weight from Underweight by Barclays.
Joy Global (JOY): Citing a strengthening Chinese economy, BMO Capital boosts the equity to Market Perform from Underperform and takes its target up by $15 to $64.
ING Groep (ING): Société Générale upgrades its fellow European financial firm to Buy from Hold.
InterContinental Hotels (IHG): Shares are higher in London this morning on the back of an Overweight-from-Equal Weight upgrade by Barclays.
Merck (MRK): The Dow (^DJI) member is moved to Buy from Neutral at MKM Partners.
NCR Corp. (NCR): JPMorgan adds the stock to its Focus List of favored equities.
Penn National Gaming (PENN): Goldman Sachs gives the stock a Neutral-from-Sell upgrade.
Pentair (PNR): Shares are now Outperform from Neutral at Robert W. Baird, which takes its target to $60 from $52.
Realty Income (O): Janney Montgomery Scott raises its rating on the retail REIT to Buy from Hold.
Research In Motion (RIMM): RIMM is raised to Hold from Underperform at Jefferies, as checks indicate carriers have a better perception of the new BlackBerry 10.
Riverbed Technology (RVBD): Shares are upgraded to Outperform at Northland Securities.
SVB Financial (SIBV): The company is taken to Buy from Hold at Citigroup.
Subsea 7 (SUBCY): Shares are now Neutral from Sell at Credit Suisse.
Whole Foods (WFM): The stock gets upgraded to Buy from Hold at Goldman, which cites margin expansion, and comparative growth. The price objective is also increased, $106 from $105.
Zipcar (NASDAQ:ZIP): Shares are up before the bell on a boost to Buy from Neutral at Goldman, which is impressed by a broadening geographic reach. The new target is $8.75, up from $8.00.
Read more: http://www.minyanville.com/trading-and-investing/stocks/articles/255EDJI-upgrades-downgrades-initiations-stock-market/11/20/2012/id/45986#ixzz2CmLAlR1z