Upgrades Roundup: BBY, ACTG, BPO, IVZ, HGIC, SPB, KCG
NEW YORK (TheStreet) -- These stocks received upgrades to buy from TheStreet Ratings last week: Best Buy (BBY), Acacia Research (ACTG), Invesco (IVZ), Harleysville Group (HGIC), Spectrum Brands Holdings (SPB) and Knight Capital Group (KCG).
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Best Buy was upgraded to buy from hold by TheStreet Ratings on Friday following the announcement it plans to close 50 U.S. stores in 2013.
The electronics retailer posted fourth-quarter earnings on Thursday of $2.47 a share, excluding items, on revenue of $16.73 billion; analysts were anticipating earnings of $2.16 a share on revenue of $17.2 billion.
The company said it intends to grow its presence in China and will make cost-cutting moves to the tune of $800 million by fiscal 2015.
TheStreet Ratings gives Best Buy a B- grade and a $30.75 price target. The stock closed Friday at $23.68 and has risen 1.33% year to date.Select the service that is right for you!
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