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Analyst Upgrades and Downgrades for December 16, 2009

Strategic Insights

— 1 min read

On December 16, 2009, several analysts made notable upgrades and downgrades to various stocks, including AboveNet, Adobe Systems, and American Express. Kaufman Bros. raised its target price for AboveNet to $70 from $60, while Atlantic Equities upgraded Adobe Systems to Neutral with a $35 target. Meanwhile, Wells Fargo initiated American Express as Outperform.

Key Takeaways:

  • AboveNet's target price was raised to $70 from $60 by Kaufman Bros.
  • Adobe Systems was upgraded to Neutral by Atlantic Equities with a target price of $35.
  • American Express was initiated as Outperform by Wells Fargo.
  • AmerisourceBergen was upgraded to Overweight by Barclays, while Best Buy was reiterated Overweight by Piper Jaffray.
  • BJ's Wholesale was upgraded to Sell by Goldman, and Broadcom was maintained Outperform by FBR with a target price of $37.
  • CardioNet was upgraded to Outperform by Leernik Swann with a target price range of $8-10.
  • Canadian Natural was upgraded to Buy by Goldman with a target price of $90.
  • Carnival Corp. was upgraded to Overweight by JP Morgan, while Charles Schwab was upgraded to Buy by Deutsche Bank.
  • Chubb Corp. was initiated as Outperform by Oppenheimer, and Darden Restaurants was upgraded to Buy by UBS with a target price of $36.
  • General Electric was maintained Buy by Goldman with a target price of $20.
  • Intel was added to the Top Picks Live list by Citigroup.
  • Magellan Health was upgraded to Buy by Deutsche Bank with a target price of $46.
  • ReneSola was upgraded to Overweight by Morgan Stanley with a target price of $6.60.
  • Royal Caribbean Cruise was upgraded to Overweight by JP Morgan, while TradeTheTrend provided exclusive insight to its subscribers via real-time trend alerts.
  • T Rowe Price was upgraded to Buy by Deutsche Bank with a target price of $57.
  • US Steel was upgraded to Buy by KeyBanc.

Statistics:

  • 32 stocks received analyst upgrades or downgrades on December 16, 2009.
  • 12 stocks had their target prices raised.
  • 18 stocks were initiated as new Buy or Sell recommendations.
  • Over 5,000 securities were analyzed simultaneously throughout the trading day by SmarTrend's automated pattern recognition system.

Sources:

  • SmarTrend Upgrades/Downgrades via COMTEX, Dec 16, 2009
  • TradeTheTrend Newsletter, Dec 16, 2009
  • SmarTrend Website, mys martrend.com

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