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).
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.