Stock Analysts’ Upgrades for October, 23rd (ARCP, BTI, CENT, CLS, CNR, COH, MFI, NSC, SRE, STO)
American Realty Capital (NASDAQ:ARCP) was upgraded by analysts at Langenberg & Company to a buy rating.
British American Tobacco (NYSE:BTI) was upgraded by analysts at Macquarie from a neutral rating to an outperform rating.
Central Garden (NASDAQ:CENT) was upgraded by analysts at Zacks from an underperform rating to a neutral rating. Zacks currently has $8.00 price target on the stock. Zacks’ analyst wrote, “Based on Central Garden & Pet’s endeavors to streamline its cost structure, enhance operating efficiencies to improve margins and grow revenues through better pricing and brand building, we upgrade our recommendation on the stock to Neutral. Though these initiatives will take time to produce results, it is worth noting that the company is leaving no stone unturned to improve after its dismal third-quarter fiscal 2013 performance. Moreover, the company boasts a diversified portfolio, which has helped in building strong business ties with giant retailers. However, the discretionary spending environment continues to remain sluggish amid high unemployment levels and tight credit markets. This is a plausible concern for the company as a significant portion of its product portfolio consists of premium offerings.”
Celestica (NYSE:CLS) was upgraded by analysts at Salman Partners to a buy rating.
Celestica (TSE:CLS) was upgraded by analysts at Paradigm Capital from a hold rating to a buy rating. The firm currently has C$12.50 price target on the stock, up from their previous price target of C$12.00.
Canadian National Railway Company (TSE:CNR) was upgraded by analysts at Desjardins from a hold rating to a buy rating. They currently have C$119.00 target price on the stock, up from their previous target price of C$102.00.
Coach (NYSE:COH) was upgraded by analysts at Standpoint Research from a hold rating to a buy rating.
Maple Leaf Foods (TSE:MFI) was upgraded by analysts at CIBC from a sector perform rating to an outperform rating. The firm currently has C$19.00 price target on the stock, up from their previous price target of C$14.00.
Norfolk Southern Corp. (NYSE:NSC) was upgraded by analysts at Bank of America Corp. to a neutral rating.
Sempra Energy (NYSE:SRE) was upgraded by analysts at Zacks from an underperform rating to a neutral rating. They currently have $95.00 price target on the stock. Zacks’ analyst wrote, “We have upgraded our recommendation on Sempra Energy to Neutral from Underperform based on the company’s diversified basket of businesses that insulate its operations to a significant degree from regulatory rate risks. We believe the company presents a lower risk profile relative to its peers. Catalysts include its stable utility earnings, consistent dividend payouts, steady progress at its LNG terminals, renewable power projects in the Pacific Southwest, the Sunrise Powerlink transmission line and ongoing installations of smart meter. However, we prefer to remain on the sidelines due to a few pending regulatory cases, and concern over natural gas prices.”
Statoil (NYSE:STO) was upgraded by analysts at Societe Generale from a hold rating to a buy rating.
Universal Forest Products (NASDAQ:UFPI) was upgraded by analysts at Zacks from a neutral rating to an outperform rating. The firm currently has $59.00 target price on the stock. Zacks’ analyst wrote, “Universal Forest’s earnings more than doubled year over year to $0.71 per share in the third quarter 2013. Revenues grew 22% on the back of healthy performances at the five market segments. Going forward, management looks forward to improving its top-line growth by adding new customers and products to its portfolio. The recent hike of 5% in the annual dividend rate is consistent with the company’s policy of rewarding its shareholders. Also, expansion through development of industrial business, entry into markets without adding capacities and accretive acquisitions is being carried out. Addition of SE Panel assets in Nov 2013 will enable the company to gain easy access to concrete forming and construction industries of the southeastern region of the United States. Considering all these, we upgrade our recommendation on Universal Forest from Neutral to Outperform.”
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