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Top Analyst Upgrades & Downgrades (BIDU, BG, CETV, CREE, GIS, IACI, MPC, MUR, MYGN, NTAP, PETS, SCHN, TRGP, NGLS)

Administrator — Fri, 01 Jul 2011 12:21:50 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Friday morning.

Baidu, Inc. (NASDAQ: BIDU) Cut to Hold at S&P Equity Research (late Thursday call).
Bunge Limited (NYSE: BG) Reiterated Buy as Value at Zacks.
Central European Media Enterprises Ltd. (NASDAQ: CETV) Cut to Sell at Goldman Sachs.
Cree Inc. (NASDAQ: CREE) maintained as Hold with $37 target at Canaccord Genuity.
General Mills Inc. (NYSE: GIS) Cut to Hold at Argus.
IAC/InterActiveCorp (NASDAQ: IACI) Cut to Neutral with $41 target at BofA/ML.
Marathon Petroleum Corporation (NYSE: MPC) Started as Outperform with $55 at Credit Suisse.
Murphy Oil Corporation (NYSE: MUR) Raised to Neutral at JPMorgan.
Myriad Genetics Inc. (NASDAQ: MYGN) Raised to Outperform as Bull of the Day at Zacks.
NetApp Inc. (NASDAQ: NTAP) Reiterated Buy with $68 target at Argus.
PetMed Express Inc. (NASDAQ: PETS) Maintained Underperform as Bear of the Day at Zacks.
Schnitzer Steel Industries Inc. (NASDAQ: SCHN) Reiterated Buy with $80 target at Canaccord Genuity.
Targa Resources Corporation (NYSE: TRGP) Started as Neutral with $34 target at CRedit Suisse.
Targa Resources Partners LP (NYSE: NGLS) Started as Outperform with $40 target at Credit Suisse.

You are invited to join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: BG, BIDU, CETV, CREE, GIS, IACI, MPC, MUR, MYGN, NGLS, NTAP, PETS, SCHN, TRGP

This Month’s Biggest Index Gainers: Chinese Telecom, Chinese Solar, and Oil and Gas Stocks

247wallst — Fri, 02 Jul 2010 20:06:30 +0000

Despite the bearish market, three Tickerspy indexes which posted substantial gains over the last 30-day period. This month’s biggest index gainers are Chinese telecom, Chinese solar, and oil and gas pipeline stocks.

Chinese telecom stocks are up 6.5% in the past month. The best performing stocks in the sector are China Unicom (Hong Kong) Limited, (NYSE: CHU) up 13.1%, Chunghwa Telecom Co. Ltd., (NYSE: CHT) up 5.4%, and China Mobile Limited, (NYSE: CHL) up 5.4%.

Chinese solar stocks are up 6.4% in the past month. The best performing stocks in the sector are Yingli Green Energy Holding Co. Ltd., (NYSE: YGE) up 24.9%, ReneSola Ltd., (NYSE: SOL) up 16.4% and Trina Solar Ltd., (NYSE: TSL) up 12.8%.

Oil and gas pipeline stocks are up 5.8% in the past month. The best performing stocks in the sector are Buckeye GP Holdings L.P., (NYSE: BGH) up 26.5%, Copano Energy LLC, (NASDAQ: CPNO) up 12.4%, and Targa Resources Partners LP, (NYSE: NGLS)

-24/7 Wall St.

Filed under: Most Actives Tagged: BGH, CHL, CHT, CHU, CPNO, NGLS, SOL, TSL, YGE

Secondary Offerings Keep Coming (LIWA, PNW, NGLS, LYV, VRTS)

Administrator — Fri, 09 Apr 2010 13:41:31 +0000

The floodgates of secondary offerings are not quite as open as they were two weeks ago. Still, many secondary offerings are coming. Companies are raising cash and insiders are using strength to lock prices in on shares. We have three deals priced this morning from Lihua International, Inc. (NASDAQ: LIWA), Pinnacle West Capital Corporation (NYSE: PNW), and Targa Resources Partners LP (NYSE: NGLS). We also have two filings from Live Nation Entertainment, Inc. (NYSE: LYV) and Virtus Investment Partners, Inc. (NASDAQ: VRTS).

Lihua International, Inc. (NASDAQ: LIWA) is a Chinese developer, designer, manufacturer, marketer and distributor of alternatives to pure copper superfine and magnet wire, as well as copper rod products. It priced a secondary offering of 3,726,708 shares at $8.05 per share. This one is actually trading up 9% at $8.80 on 440,000 shares right before the open. This is less than a year old and its 52-week range is $5.20 to $12.69. Average volume is only 369,000 shares and this was over $9.00 a week ago.

Pinnacle West Capital Corporation (NYSE: PNW) priced a public secondary offering of 6,000,000 shares of common stock at $38.00 per share via Barclays Capital, Credit Suisse, BofA Merrill Lynch, and Wells Fargo Securities. Pinnacle is up 0.1% at $38.55 on already over 1 million shares before the open. The 52-week range is $25.28 to $39.10.

Targa Resources Partners LP (NYSE: NGLS) priced a secondary public offering of 8,500,000 common units owned by Targa LP, Inc., a wholly-owned subsidiary of Targa Resources, Inc. at $27.50 per unit. The underwriters are Barclays Capital, BofA Merrill Lynch, Citi, UBS Investment Bank and Wells Fargo and they have a 30-day option to purchase up to 1,275,000 additional common units. The Partnership will not receive any of the proceeds from this offering and the number of outstanding common units of the Partnership will remain unchanged. The units are down 3.5% at $27.43 right before the open and we have seen almost 1 million units traded. The 52-week range is $9.00 to $28.87.

Then there are also two key shelf registrations.

Live Nation Entertainment, Inc. (NYSE: LYV) filed last night for the sale of up to 2,969,187 shares of common stock, with a listed value of close to $42.9 million. This is for shares “issued or to be issued upon the exercise of certain outstanding equity awards held by current and former employees and directors of IAC/InterActiveCorp, HSN, Inc., Interval Leisure Group, Inc. and Tree.com, Inc. and certain former employees and a former director of Ticketmaster under the Amended and Restated Ticketmaster Entertainment, Inc. 2008 Stock and Annual Incentive Plan.” SHares are largely unaffected as the stock is down only 0.8% at $15.47 on less than 30,000 shares before the open.

Virtus Investment Partners, Inc. (NASDAQ: VRTS) has filed a shelf registration to raise up to $100 million through the sale of equity or debt, some of which may be for holders.

JON C. OGG

Filed under: Secondary Offering Tagged: LIWA, LYV, NGLS, PNW, VRTS

Pre-Market Analyst Calls (October 4, 2007)

247wallst — Thu, 04 Oct 2007 07:00:28 +0000

AAPL started as Buy at BMO Capital.
AVR cut to Neutral at JPMorgan.
BIOF cut to Neutral at JPMorgan.
CHIC cut to Neutral at JPMorgan.
CIEN raised to Neutral at UBS.
COO cut to Underperform at Bear Stearns.
ENDP cut to Hold at Jefferies.
ESL cut to Neutral at JPMorgan.
FCL started as Outperform at FBR.
FISV raised to Overweight at JPMorgan.
HANS cut to Neutral at Goldman Sachs (see full note).
LIFC raised to Outperform at Piper Jaffray.
MOT target raised to $22 at Lehman.
MPWR raised to Buy at Goldman Sachs.
MXIM raised to Buy at Goldman Sachs.
MYL raised to Overweight at JPMorgan.
NGLS removed from Goldman Sachs conviction buy list.
NHY raised to Overweight at JPMorgan.
NTRI cut to Hold at Lazard.
PNRA raised to Overweight at JPMorgan.
RAD raised to Neutral at HSBC.
SAP raised to Buy at Sun Trust; downgraded at Bernstein.
SHW raised to Buy at UBS.
SLAB cut to Hold at Citigroup.
SPF raised to Neutral at UBS.
WFT cut to Neutral at B of A.
WTSLA cut to Neutral at JPMorgan.
X started as Underweight at JPMorgan.

Wachovia initiated major technology companies today, but it appears that this was part of the A.G.Edwards transitioning this week (AMD, INTC, TXN, DELL, IBM, HPQ, NOK, QCOM, BRCM, MOT, JAVA). Here is a full list.

Jon C. Ogg
October 4, 2007

Earlybird Analyst Calls (June 13, 2007)

247wallst — Wed, 13 Jun 2007 06:18:54 +0000

AL cut to Peer Perform at Bear Stearns.
ATV started as Outperform at CIBC.
BBI raised to Buy at Citigroup.
BT raised to Outperform at Bear Stearns.
CEVA started as Outperform at CIBC.
CNI cut to Peer Perform at Bear Stearns.
CRA started as Underperform at JMP.
CSAR raised to Neutral at UBS.
DF cut to Neutral at JPMorgan.
ECA started as Outperform at CIBC.
NGLS cut to Mkt Perform at Wachovia.
NOK started as Overweight at JPMorgan.
OPTN cut to Neutral at UBS.
PSD started as Outperform at R.W.Baird.
SAPE raised to Outperform at RBC.
TMX cut to Hold at Citigroup.
VDSI raised to Outperform at FBR.
VRNT raised to Buy at Deutsche Bank.
WCC raised to Buy at UBS.

Jon C. Ogg
June 13, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.