Stock Upgrades: Cisco on a Route to Riches
Today in economics, September business inventories are out at 10:00 a.m. Eastern, and we get minutes to the Federal Open Market Committee's October 23 meeting at 2:00 p.m. In earnings action, Abercrombie & Fitch (ANF), Limited Brands (LTD), Mitsubishi UFJ Financial (MTU), NetApp (NTAP), PetSmart (PETM), Staples (SPLS), Tyco International (TYC), and Williams-Sonoma (WSM) are all due to report results.
Cimarex (XEC): Shares are upgraded to Buy from Overweight at U.S. Capital Advisors.
Cisco Systems (NASDAQ:CSCO): The provider of Internet routers and switches, a key Dow (^DJI) component, is upgraded to Outperform from Sector Perform at Pacific Crest. Catalysts include improving margins, relative stability, cash position, and valuation.
Credicorp (BAP): HSBC Securities hoists the company to Neutral from Underweight.
Hub Group (HUBG): Shares are upgraded to Outperform from Neutral at Robert W. Baird, whose price objective is $38.
Oasis Petroleum (OAS): OAS is upgraded to Buy from Neutral at SunTrust.
PacWest Bancorp (PACW): Shares are upgraded to Buy from Hold with Wunderlich, which cites its accretive acquisition of First California Financial Group.
Response Genetics (RGDX): Ladenburg moves the microcap to Buy from Neutral based on cost reductions.
Royal Caribbean (RCL): The cruise company gets a Buy-from-Hold hoist at Argus, which is impressed by both higher yields and new ship profitability.
Weatherford International (WFI): The oil services outfit is up 2.2% before the bell on an upgrade to Hold from Underperform at Jefferies and to Hold from Sell at Société Générale.