Analyst upgrades, downgrades and initiations: ADM, CIEN, INTC, MOT, TGT, TXN ... - Blogging Stocks

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Analyst upgrades, downgrades and initiations: ADM, CIEN, INTC, MOT, TGT, TXN ...
Oct 28, 2009 03:30 PM UTC

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Symbol	Sentiment	Start	Return	Closed
BBSI	n/a
INTC	n/a
TGT	n/a
CRDN	n/a
MOT	n/a
FORM	n/a
AKS	n/a
TXN	n/a
ADM	n/a

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Filed under: Analyst upgrades and downgrades, Intel (INTC), Target Corp. (TGT), Archer-Daniels-Midland (ADM), Analyst initiations

Analyst upgrades:

Target (NYSE: TGT) was upgraded two ratings to Buy from Sell at Citigroup, and it raised its price estimate on shares to $61 from $44. The firm sees significant earnings upside as the company's same-store sales improve and finds the valuation attractive at current levels.

Motorola (NYSE: MOT) was upgraded to Outperform from Sector Perform at RBC Capital citing valuation, new product launches, and expectations that the Mobile Devices division will be profitable. The price target is $11.

AK Steel (NYSE: AKS) was upgraded to Buy from Hold at Citigroup as it believes the company's Q3 results were solid and the China steel market is stabilizing. The firm raised its target to $21 from $17.

Ceradyne (NASDAQ: CRDN) was upgraded at Wells Fargo to Market Perform from Underperform. The firm thinks that earnings expectations for the company have now reached more reasonable levels, limiting risk.

FormFactor (NASDAQ: FORM) was upgraded to Outperform from Market Perform at FBR Capital ahead of the company's Q3 results due to valuation as it views the risk/reward on shares compelling. The firm raised its price target to $25 from $19.

Texas Instruments (NYSE: TXN) was upgraded at Goldman to Buy from Neutral, citing 2H10 margin expansion and analog share gains. Target was raised to $29 from $27.

Barrett Business Services (NASDAQ: BBSI) was upgraded to Buy from Hold at Roth Capital as the firm thinks the company will benefit from a labor market recovery next year. Roth notes that the stock's valuation has lagged behind most of its peers in recent months and it set an $18 target.

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Analyst upgrades, downgrades and initiations: ADM, CIEN, INTC, MOT, TGT, TXN ... originally appeared on BloggingStocks on Wed, 28 Oct 2009 10:30:00 EST. Please see our terms for use of feeds.

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