Analyst upgrades, downgrades and initiations: JCG, K, MON, TOL, TXN ...

Filed under: Analyst upgrades and downgrades, Analyst initiations

Analyst upgrades:

• Toll Brothers (NYSE: TOL) was upgraded to Buy at Citigroup. The firm views the recent sell-off in home building stocks as a buying opportunity and thinks Toll Brothers offers the best risk/reward in its coverage universe. Citi keeps a $23 price target on the stock.


• Kellogg (NYSE: K) was upgraded to Buy from Hold at Citigroup following the Q3 results, as it believes the company's reduced spending and share buyback will serve as catalysts. The firm raised its price target on shares to $63 from $50.


• Rogers Communications (NYSE: RCI) and Telus (NYSE: TU) were upgraded to Outperform from Sector Perform at RBC Capital, which said the CRTC unexpectedly denied Globalive's wireless application. The analyst said Globalive was potentially the biggest of new wireless competitors and the decision removes a big threat to the group. Rogers price target was raised to $40 from $33; Telus to $44 from $36.


• Stanley (NYSE: SXE) was upgraded at Wells Fargo to Outperform from Market Perform after the company reported better-than-expected Q3 results and raised its FY10 guidance.


• Texas Instruments (NYSE: TXN) was upgraded at Bernstein to Outperform from Market Perform. The analyst believes Texas Instruments' core business earnings power is underappreciated and valuation is attractive. Target raised to $30 from $28.

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Analyst upgrades, downgrades and initiations: JCG, K, MON, TOL, TXN ... originally appeared on BloggingStocks on Fri, 30 Oct 2009 10:40:00 EST. Please see our terms for use of feeds.

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