Motorola ( MOT) upgraded at Oppenheimer to Outperform. $5 price target. Sentiment is at an all-time low, and the company is almost done with its cost-cutting. Morgan Stanley ( MS) upgraded at Goldman Sachs to Buy from Neutral based on strong financial position, reasonable valuation and leverage to potential improvements in capital markets. Note that 4.4% tangible common equity ratio is highest among large cap banks. Price target raised to $27 from $21. Nucor ( NUE) upgraded at Goldman Sachs to Buy from Neutral. Expect earnings to benefit from low and variable cost structure and diversified product mix. Note strong balance sheet and conservative investment policy. Price target lowered to $38 from $43. Perrigo ( PRGO) rated new Overweight at Morgan Stanley. $28 price target. Stock looks oversold, after cutting guidance last month. U.S. Bancorp ( USB) upgraded at Goldman Sachs to Neutral from Sell based on valuation. Shares now trade at 2.5x tangible book value, down from 3.1x in January. Note that stock is still well above peers trading at 1x TBV.
Kroger ( KR) estimates, target lowered at Barclays. Shares now seen reaching $28. Estimates also cut, to match the company's new sales guidance. Overweight rating. Lowe's ( LOW) numbers cut at Morgan Stanley through 2011. Stock could bounce back in the near-term, however, having underperformed HD. Overweight rating and new $19 price target. McDonald's ( MCD) target cut at Morgan Stanley to $64. First-quarter earnings could be hurt by the strong dollar. Overweight rating. Oracle ( ORCL) estimates, target cut at Barclays through 2010. Channel checks suggest a weak close to the latest quarter. Even so, the stock looks attractive to buy ahead of earnings. Overweight rating. Transocean ( RIG) added to Top Picks list at Citigroup. Company should benefit from the stabilization in oil prices. Buy rating and $98 price target. Texas Instruments ( TXN) estimates raised at Barclays through 2010. Company is cutting costs and focusing on inventory levels. Equal-weight rating and $16 price target. United Technologies ( UTX) numbers cut at Barclays to $50. Estimates also lowered, to match the company's new guidance. Overweight rating.