Analyst calls: JC Penney downgraded to 'neutral'

Sprint is upgraded to 'buy,' while Coca-Cola is downgraded to 'neutral.'

By MSN Money Partner Aug 13, 2012 11:30AM
Information provided by Theflyonthewall.com

Monday's noteworthy upgrades include:  
  • Campbell Soup (CPB) upgraded to Conviction Buy from Sell at Goldman
  • J.M. Smucker (SJM) upgraded to Buy from Neutral at Goldman
  • ConocoPhillips (COP) upgraded to Buy from Hold at Societe Generale
  • Google (GOOG) upgraded to Overweight from Equal Weight at Morgan Stanley
  • International Paper (IP) upgraded to Outperform from Neutral at Credit Suisse
  • Ross Stores (ROST) upgraded to Overweight from Neutral at Piper Jaffray
  • Sprint (S) upgraded to Buy from Neutral at BofA/Merrill
Monday's noteworthy downgrades include:  
  • Coca-Cola (KO) downgraded to Neutral from Conviction Buy at Goldman
  • GlaxoSmithKline (GSK) downgraded to Hold from Buy at Jefferies
  • Pandora (P) downgraded to Equal Weight from Overweight at Morgan Stanley
  • Cardtronics (CATM) downgraded to Neutral from Overweight at JPMorgan
  • Syntel (SYNT) downgraded to Neutral from Overweight at JPMorgan
  • Veeco (VECO) downgraded to Hold from Buy at Deutsche Bank
  • J.C. Penney (JCP) downgraded to Neutral from Overweight at Piper Jaffray
  • Time Warner (TWX) downgraded to Average from Above Average at Caris
Monday's noteworthy initiations include:  
  • Five Below (FIVE) initiated with a Buy at Jefferies, and with a Market Perform at Wells Fargo, and with a Neutral at Goldman
  • Volterra (VLTR) initiated with a Buy at Deutsche Bank
  • Texas Industries (TXN) initiated with an In-Line at Imperial Capital
1Comment
Aug 13, 2012 3:07PM
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At the time I write this, all upgrades above are in the black/green and all downgrades are in the red. It's a horrifying reminder of the absolute power held by those behind the spreadsheets. The market works, but not like this. Paying homage (and huge fees) to the analysts is no different than buying pardons in the middle ages.
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