Up/Downgrades (AER, BECN, BJ, BRKR, FPO, HP, IMGN, NBR, PMTC, PTEN, PIR, BYI, CHSI, CLX, COST, ENL, RGA, SWY, SPWRA)
Published on Friday, 08 April 2011 07:27 Written by Danny Miller
New York, April 8th (TradersHuddle.com) – Following are some of the top upgrades and downgrades before the market open.
AerCap (NYSE:AER), the integrated global aviation company, was upgraded to Outperform from Market Perform at FBR Capital. The firm set its target price at $16, as the firm believes the company is attractively valued, reflecting what it views as excessive investor discounting for rising fuel prices and disruptions in the Middle East and North Africa region and Japan.
Beacon Roofing Supply (NASDAQ:BECN), the residential and non-residential building materials distributor, was upgraded to Outperform from Neutral at Robert W. Baird. The firm set its target price at $26, as it expects results to be weak due to severe weather in many markets, which should set the company up for a better summer selling season.
BJ's Wholesale (NYSE:BJ), the third largest wholesale club chain in the U.S., was upgraded to a Buy from Neutral at Goldman Sachs. The firm also added the stock to its Conviction Buy List.
Bruker (NASDAQ:BRKR) was downgraded to a Hold from Buy at Deutsche Bank. The firm set its target price at $23.
First Potomac (NYSE:FPO) was upgraded to Outperform from Market Perform at Keefe Bruyette.
Helmerich & Payne (NYSE:HP), the contract driller of oil and gas wells in the Gulf of Mexico and South America, was upgraded to Outperform from Neutral at Macquarie.
Immunogen (NASDAQ:IMGN) was upgraded to Outperform from Sector Perform at RBC Capital.
Nabors Industries (NYSE:NBR), the land driller contractor, was upgraded to Outperform from Neutral at Macquarie.
Parametric (NASDAQ:PMTC) was upgraded to a Buy from Hold at Jefferies. The firm raised its target price to $28 from $25.
Patterson-UTI (NASDAQ:PTEN) was upgraded to Outperform from Underperform at Macquarie. The firm raised its target price to $36 from $18.50.
Pier 1 Imports (NYSE:PIR), the decorative home furnishings and gifts retailer, was upgraded to a Buy from Hold at BB&T.
Bally Technologies (NYSE:BYI) was downgraded to a Neutral from Outperform at Credit Suisse.
Catalyst Health Solutions (NASDAQ:CHSI) was downgraded to Market Perform from Outperform at BMO Capital.
Clorox (NYSE:CLX), the maker of cleaning supplies and other household products, was downgraded to a Neutral from Overweight at JP Morgan.
Costco (NASDAQ:COST), the owner and operator of wholesale membership warehouses, was downgraded to a Neutral from Buy at Goldman Sachs.
Reed Elsevier (NYSE:ENL) was downgraded to a Neutral from Overweight at JP Morgan.
Reinsurance Group (NYSE:RGA), the provider of life reinsurance in North America, Europe, South Africa, and the Asia Pacific, was downgraded to Market Perform from Outperform at Wells Fargo.
Safeway (NYSE:SWY), the owner and operator of a grocery store chain, was downgraded to a Neutral from Buy at Goldman Sachs.
Sunpower (NASDAQ:SPWRA), the maker of high-efficiency solar cells and solar panels, was downgraded to Market Perform from Outperform at JMP Securities.
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