Tuesday, September 15, 2009

Upgrades

-->>First comes my favorite confusing research suggestion, from WestLB. They're UPGRADING shares of Nokia to "Reduce," from "Sell." Sooooo, I'm curious - don't sell your holdings, but "reduce" them? Will the trader on the other end of the line even have that button on his trading keyboard?

-->>UBS has initiated coverage of the disk drive space with a "positive" view. They see 20% upside to their $18 target for Seagate (STX), and another 20% upside to their $42 target on AlphaNinja favorite Western Digital (WDC).

-->>Bernstein sees 35% upside to their $21 target on Yahoo (YHOO), which they just upgraded to Outperform. They note that the current valuation ($15.60 per share) implies that Yahoo's operating business is worth only $4.50 per share after cash and Asian assets have been netted out.

-->>Barclays upgrades Xerox (XRX) to Overweight. Their $12 target is a 50% boost from their previous $8 target, and implies 33% upside from the current share price. They think that as Xerox improves its cash flow, investors will become comfortable paying a higher multiple for the shares.

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