Oct 28, 2009 (MarketNewsVideo.com via COMTEX News Network) -- This morning, Citigroup's analysts upgraded shares of Target (TGT) from Sell to Buy as the firm expects strong earnings in 2010. With operating margins on the rise and the economy improving, earnings should follow. With the upgrade, Citigroup raised its price target from $44 per share up to $61.
In morning trading, shares of Target were trading higher by a little more than one percent.
Citigroup also upgraded shares of AK Steel (AKS) from Hold to Buy. The firm believes the steel markets in China are stabilizing and earnings should rebound with the renewed demand. With the upgrade, Citigroup raised its price target from $17 per share up to $21.
Shares of AK Steel were falling in morning trading, off more than three and a half percent despite the upgrade from Citigroup.
Oppenheimer upgraded shares of Wynn Resorts (WYNN) from Market Perform to Outperform after yesterday's lackluster earnings report. Shares of Wynn Resorts fell more than ten percent after Macau earnings fell short of expectations, but analysts at Oppenheimer see this as an opportunity for investors to average in and maintain their price target of $73 per share.
Despite the upgrade, shares of Wynn Resorts continue to fall today, off another one percent this morning.
And another gaming company receiving an upgrade today was Boyd Gaming (BYD). Wedbush Morgan upgraded shares from Underperform to Neutral and increased its price target from $7 per share up to $9. The firm believes the current share price reflects the long recovery process for the Las Vegas markets.
Shares of Boyd Gaming were falling hard and fast on Wednesday morning, off almost eight percent so far today.
The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200910Upgrades102809&mv=1.
http://www.marketnewsvideo.com/
MarketNewsVideo.com
Copyright 2009 MarketNewsVideo.com
