CHANGE IN RATINGS
ADC Telecom (ADCT Quote) upgraded at UBS from Neutral to Buy. $8 price target. Valuation call, as the company could return to normalized earnings by 2011.Activision Blizzard (ATVI Quote) upgraded at Merrill/BofA to a buy and price target increased to $15 from $12. Activision's 1Q results have alleviated concerns since downgrade in early Nov. on weak industry trends. Specifically, A/R fell from $1.2bn to $0.2bn (retail channel improved), catalog sales were robust in 1Q (estimated at $280mn despite full channel), and 2Q guide will make stock less sensitive to negative NPD data expected in July. BofA thinks ATVI has best holiday slate in sector, which historically translates to strong performance from June-Nov.
Bank of America (BAC Quote) upgraded at Wachovia from Underperform to Market Perform. Company seeing less than expected dilution to the stock and still trades at a discount to its peers. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,308.26 | 1,096.07 | 2,180.05 | 34.87 |
Oil *
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3.49%
SPDR Gold
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