Notable Analyst Rating Changes 8/6: AXP, MGM, OWW, FCX, SPLS, DD Upgraded; CELG, FITB, OCNF, MELI, SHO Downgraded
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UPGRADES:
Citigroup upgrades American Express Company (NYSE: AXP) from Hold to Buy, saying credit has stabilized. The firm lifted their price target to $36. Citi also added shares of AmEx to its Top Picks Live list.
Sanford C. Bernstein upgrades MGM Mirage (NYSE: MGM) from Underperform to Market Perform and lifted their price target from $7 to $9, citing a more stable financial envoirnment.
Keefe, Bruyette & Woods upgrades Fortress Investment Group LLC (NYSE: FIG) to Outperform. Price target $6.50. Here is the full report.
Piper Jaffray & Co. upgrades Orbitz Worldwide (NYSE: OWW) from Underweight to Neutral. Price target increased from $2 to $5. Click here to see more color on the upgrade.
Goldman Sachs upgrades Orbitz Worldwide, Inc. (NYSE: OWW) from Sell to Neutral and raises their price target to $5.20 from $1.50, following better Q2 results that alleviates concerns that the company may trip some debt covenants.
Merrill Lynch/BAM is out with a major call upgrading Freeport-McMoRan (NYSE: FCX) to Buy from Underperform and raising their target price to $87 (prev. $49). Here is more color on the upgrade.
Goldman Sachs upgrades Staples, Inc. (Nasdaq: SPLS) to its Conviction Buy List and raised its price target from $22 to $25. The firm said SPLS is a persistent share gainer with credible global growth platform, capturing benefits from the integration of Corporate Express.
Oppenheimer upgrades DuPont (NYSE: DD) from Underperform to Perform.
For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades
DOWNGRADES:
Cowen & Co downgrades Celgene (Nasdaq: CELG) from Neutral to Underperform.
Keefe, Bruyette & Woods downgrades Fifth Third Bancorp (Nasdaq: FITB) from Outperform to Market Perform. Price target $10. Click here to see more color on the downgrade.
Cantor Fitzgerald downgrades OceanFreight, Inc. (Nasdaq: OCNF) from Hold to Sell. Price target lowered from $1.50 to $1.00. Click here for the full report.
Susquehanna downgrades MercadoLibre, Inc. (Nasdaq: MELI) from Positive to Neutral, citing valuation. Here is more color on the downgrade.
J.P. Morgan downgrades Sunstone Hotel Investors (NYSE: SHO) from Overweight to Neutral.
For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades
NEW COVERAGE:
Deutsche Bank initiates coverage on JPMorgan Chase (NYSE: JPM) with a Buy rating and $48 price target. Here is the full report.
RBC Capital initiates coverage on Rio Tinto (NYSE: RTP) with a Sector Perform.
Thomas Weisel initiates coverage on Gaiam (Nasdaq: GAIA) with an Overweight rating. Price target $7.
For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage
Citigroup upgrades American Express Company (NYSE: AXP) from Hold to Buy, saying credit has stabilized. The firm lifted their price target to $36. Citi also added shares of AmEx to its Top Picks Live list.
Sanford C. Bernstein upgrades MGM Mirage (NYSE: MGM) from Underperform to Market Perform and lifted their price target from $7 to $9, citing a more stable financial envoirnment.
Keefe, Bruyette & Woods upgrades Fortress Investment Group LLC (NYSE: FIG) to Outperform. Price target $6.50. Here is the full report.
Piper Jaffray & Co. upgrades Orbitz Worldwide (NYSE: OWW) from Underweight to Neutral. Price target increased from $2 to $5. Click here to see more color on the upgrade.
Goldman Sachs upgrades Orbitz Worldwide, Inc. (NYSE: OWW) from Sell to Neutral and raises their price target to $5.20 from $1.50, following better Q2 results that alleviates concerns that the company may trip some debt covenants.
Merrill Lynch/BAM is out with a major call upgrading Freeport-McMoRan (NYSE: FCX) to Buy from Underperform and raising their target price to $87 (prev. $49). Here is more color on the upgrade.
Goldman Sachs upgrades Staples, Inc. (Nasdaq: SPLS) to its Conviction Buy List and raised its price target from $22 to $25. The firm said SPLS is a persistent share gainer with credible global growth platform, capturing benefits from the integration of Corporate Express.
Oppenheimer upgrades DuPont (NYSE: DD) from Underperform to Perform.
For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades
DOWNGRADES:
Cowen & Co downgrades Celgene (Nasdaq: CELG) from Neutral to Underperform.
Keefe, Bruyette & Woods downgrades Fifth Third Bancorp (Nasdaq: FITB) from Outperform to Market Perform. Price target $10. Click here to see more color on the downgrade.
Cantor Fitzgerald downgrades OceanFreight, Inc. (Nasdaq: OCNF) from Hold to Sell. Price target lowered from $1.50 to $1.00. Click here for the full report.
Susquehanna downgrades MercadoLibre, Inc. (Nasdaq: MELI) from Positive to Neutral, citing valuation. Here is more color on the downgrade.
J.P. Morgan downgrades Sunstone Hotel Investors (NYSE: SHO) from Overweight to Neutral.
For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades
NEW COVERAGE:
Deutsche Bank initiates coverage on JPMorgan Chase (NYSE: JPM) with a Buy rating and $48 price target. Here is the full report.
RBC Capital initiates coverage on Rio Tinto (NYSE: RTP) with a Sector Perform.
Thomas Weisel initiates coverage on Gaiam (Nasdaq: GAIA) with an Overweight rating. Price target $7.
For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage
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