News / Business
Major Stock Upgrades (PXP, CMI, WERN, TNDM) :by PennyStockPickReport.com
Stock Upgrades
Plains Exploration & Production Company (NYSE:PXP) shares climbed 2% to $25.16 following the stock was upgraded by Hapoalim Securities to “Buy”.
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Hapoalim analyst says, "While PXP decides what to do with $1.4 bank credit, and $1.4 Cash ($2.8B), we believe there is an opportunity to own the stock on 2011 metrics post sale: production per debt adjusted share, cash margins, capital intensity, and EV/CF versus peers."
Shares of Cummins Inc. (NYSE:CMI) are seeing increased buying pressure following Goldman Sachs adding the stock to its Conviction Buy List. Price target has been raised to $104.
The firm said CMI will benefit from a rising global engine regulations driving $1 bn of new product sales in 2011-12 and the recovery in North America truck demand.
The firm also cited rising fixed investment in Asia and Latin America, and strong cash generation driving capacity to buy back $2 billion of stock in 2H2010-2012.
Shares of CMI climbed 2.84% to $84.25 on very heavier than the average volume.
Shares of Werner Enterprises, Inc. (NASDAQ:WERN) are seeing increased buying pressure following Wells Fargo upped the company’s rating to “Outperform”.
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Wells analyst says, "In Q3/Q4, we want to be positioned for a CHOPPY POST-RECOVERY period. In that environment, we think investors will reward companies who are able to GARNER GROWTH beyond the economic cycle versus those more leveraged to the economic cycle. In such an environment, we believe investors can capture the most relative Outperformance through JBHT, although we feel WERN represent an attractive opportunity at the current price."
Shares of WERN climbed 2.54% to $21.40 on very heavier than the average volume.
Shares of Neutral Tandem Inc. (NASDAQ:TNDM) surged 2.75% to $10.47 following BWS Financial upped the company’s rating to “Buy” from “Hold.”
BWS analyst says, "In the wake of competitive pricing pressure and stalling growth, TNDM has agreed to purchase Tinet for total consideration of $94.9 million. As a result of the transaction, as well as the benefits TNDM’s shareholders would realize over the course of the first twelve months after the deal closes, we are upgrading our rating."
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