Portugal
Telecom (NYSE: PT) shares rose 0.22% to $13.40 following Goldman
Sachs upgraded the Neutral and set a price target of €10.6.
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Goldman analyst says,
"Our Sell rating on Portugal Telecom was based on our negative view of the
surprisingly rapid acquisition of Oi, an asset facing long-term structural and
competitive risks and with high corporate governance uncertainty given its
complex ownership structure. We were also concerned that severe austerity
measures in Portugal would undermine the benefits of an attractive domestic
market structure and PT’s sector-leading investments in FTTH rollout."
Cathay
General Bancorp (NASDAQ:CATY) this morning BMO Capital rerated the stock from Market
Perform to Outperform and lifted the price target by $1 to $14.
Cathay General Bancorp
(Bancorp) is a holding company of Cathay Bank, a California state-chartered
commercial bank (the Bank). It also owns 100% of the common stock of five
statutory business trusts created for the purpose of issuing capital
securities.
Shares of CATY are up 3.72%
to $12.28.
Phillips-Van
Heusen Corporation (NYSE:PVH) Goldman Sachs upped the
company’s rating to “Buy” from Neutral, citing they are increasingly confident
in the company's global growth story. The firm raised their price target to $70
from $59.
The firm cited outsized
growth of the CK brand and accretion from the Tommy Hilfiger deal.
Shares of PVH are up 1.28%
to $60.76 on very heavier than the average volume.
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Shares of JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO)
fell 2.20% to $8.49 following Canaccord Genuity upgraded the stock to
Buy
from Hold and raised the price target by
$4 to $11.
JA Solar Holdings Co.,
Ltd. (JA Solar) is a manufacturer of high-performance solar cells based in
People's Republic of China. The Company produces and sells both monocrystalline
and multicrystalline solar cells.
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