News / Business
Major Stock Upgrades (CF, CSIQ, BBY, PLD) : by Penny Stock Pick Report
Stock Upgrades
CF Industries Holdings, Inc. (NYSE:CF) shares fell 2.10% to $97.28 following Credit Suisse upgraded the stock to Outperform from Neutral and raised the price target by $19 to $128.
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The firm's upgrade comes as Credit Suisse also raised its nitrogen and phosphate price forecasts for this year and 2011.
With CF shares last trading around $100 even, Credit Suisse's new price target implies potential upside of about 28%.
In addition, Credit Suisse also said that Agrium (NYSE: AGU) currently offers an attractive risk/reward. The firm lifted its target on AGU shares from $82 to $93. Credit Suisse maintains an Outperform rating on Agrium.
Canadian Solar Inc. (NASDAQ:CSIQ) this morning Jefferies rerated the stock from Hold to Buy and lifted the price target by $5 to $17.
Analyst Jesse Pichel said, "We believe CSIQ will have higher than previously expected ASPs through 2011 and the company will benefit from cost savings by sourcing more cell components internally. We believe the SEC subpoena is behind the company, and is priced in trading at an ~8x multiple."
Shares of CSIQ are up 9.25% to $15.86.
Shares of Best Buy Co., Inc. (NYSE:BBY) RBC Capital upped the company’s rating to “Outperform” from Top Pick. The firm also raised the price target by $2 to $48.
Best Buy shares have risen by more than 16% since the electronics retailer reported Q2 results on September 14.
With the stock trading around $40.38 in this morning's pre-market session, RBC's new price target implies potential upside of about 19%.
Shares of BBY are up 1.31% to $40.90 on very heavier than the average volume.
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Shares of ProLogis (NYSE:PLD) surged 2.50% to $12.04 following Stifel Nicolaus upgraded the stock to Buy from Hold and set a price target of $14.
ProLogis is a real estate investment trust (REIT). The Company is a global provider of industrial distribution facilities. It is an international real estate company with operations in North America, Europe and Asia.
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