Analyst calls: US Airways, AMR
HP and RIM are upgraded, while Dillard's is downgraded. Boeing is initiated with a 'buy.'
As the nation's third-largest airline, American Airlines, and its parent company AMR (AMR) filed for bankruptcy protection Tuesday, the much smaller US Airways (LCC) was upgraded to "neutral" from "sell" at Citigroup.
Meanwhile, Hewlett-Packard (HPQ) was upgraded to "outperform" from "sector perform" at RBC Capital. And after being downgraded Monday, Research In Motion (RIMM) was upgraded to "market perform" from "underperform" at Bernstein.
Tuesday's noteworthy downgrades:
- Dillard's (DDS) downgraded to Neutral from Buy at Sterne Agee
- Zions Bancorp (ZION) downgraded to Neutral from Outperform at Macquarie
- Nabors Industries (NBR) downgraded to Hold from Buy at Jefferies
Tuesday's noteworthy initiations:
- Qualcomm (QCOM) initiated with an Outperform at Scotia Capital
- Schlumberger (SLB) initiated with a Buy at Jefferies
- Boeing (BA) initiated with a Buy at Sterne Agee
- DuPont (DD) initiated with a Neutral at UBS
- Cheesecake Factory (CAKE) initiated with an Overweight at Stephens
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All hail the bull market, which ended the week with a big rally. But it also is starting to look a little like 1987, which suffered an epic blow-out.
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