Analyst upgrades: CNC, EAT, HLIT, IEX and RDS.A
MOST NOTEWORTHY: Centene, Brinker universal, Harmonic, Idex and Royal Dutch Shell were today’s noteworthy upgrades:
- Jefferies upgraded shares of Centene Corporation (NYSE: CNC) to Buy from Hold as they expect the company is benefiting from above 20% revenue growth next year and SG&A leverage opportunity by the next 12-18 months.
- Bear Stearns upgraded shares of Brinker International (NYSE: EAT) to Outperform from Peer Perform as they believe Brinker’s turnaround efforts can enhance shareholder value.
- Friedman Billings raised shares of Harmonic (NASDAQ: HLIT) to Outperform from Market Perform based on the favorable outlook for cable and satellite spending on HD video and other projects.
- The firm plus upgraded Idex Corporation (NYSE: IEX) to Outperform from Market Perform, citing the company’s positive 2008 outlook and solid end markets.
- Goldman upgraded Royal Dutch Shell (NYSE: RDS.A) to Neutral from Sell on valuation.
OTHER UPGRADES:
- CIBC upgraded J. Crew Group (NYSE: JCG) to Sector Outperformer from Sector Performer and Parker Hannifin (NYSE: PH) to Sector Performer from Sector Underperformer.
- Sprint Nextel Corporation (NYSE: S) was upgraded to Outperform from Neutral at Credit Suisse.
- RBC Capital Markets upgraded LaSalle Hotel Properties (NYSE: LHO) to Top Pick from Outperform.
Original post by Eric Buscemi
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