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Stock Upgrades & Downgrades: FLR, BIIB, REGN, CBOU, HOS, RHT, CELG, CLDA, CLH, ORA

 February 24, 2011 02:46 PM
 


The US market feels the pinch of 12.6 percent decline in new home sales, and rising crude oil prices. All major indices were trading in red during the afternoon session.

Dow Jones Industrial Average lost 0.47 percent or 57.37 points to 12,048.41, and the Standard and Poor's 500 fell 0.27 percent or 3.56 points to 1,303.84. However, NASDAQ Composite was up 0.13 percent or 3.43 points at 2,726.42.

During the day, several stocks were either upgraded or downgraded by analysts and rating agencies. Some notable upgrades and downgrades are discussed here.

Upgrades:

Flour Corporation (NYSE: FLR) added 0.23 percent or $0.16 to $68.55 as it is upgraded to Market Perform from Underperform with a price target of $66 by BMO Capital.

[Related -Celgene Corporation (NASDAQ:CELG): Why Should You Invest In Celgene In 2014?]

Biogen Idec Inc. (NASDAQ: BIIB) moves up from Sector Perform to Outperform at RBC Capital with a price target of $75. Shares of Biogen gained 1.17 percent or $0.78 to $67.54 during the mid-day trading.

RBC Capital upgrades Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) to Outperform from Sector Perform with a price target of $48. Regeneron added 2.70 percent or $0.94 to $35.72 after the news.

[Related -Red Hat Inc (NYSE:RHT): A Top Rebound Story For 2014]

Caribou Coffee Company (NASDAQ: CBOU) is lifted to Outperform from Neutral by Robert W. Baird with a price target of $14. Shares of Caribou jumped 10.43 percent or $0.92 to $9.74.

Hornbeck Offshore Services Inc. (NYSE: HOS) is upgraded to Buy from Neutral at Goldman Sachs. Hornbeck added 7.36 percent or $1.83 to $26.69 in the mid-day trading.

Downgrades:

Red Hat Inc. (NYSE: RHT) lost 1.40 percent or $0.57 to $40.01 as it is downgraded to Underweight from Neutral at JP Morgan.

Celgene Corporation (NASDAQ: CELG) added 0.15 percent or $0.08 to $52.79 despite being reduced to Sector Perform from Outperform with a price target of $55 at RBC Capital.

Clinical Data Inc. (NASDAQ: CLDA) is downgraded to Market Perform from Outperform at BMO Capital with a price target of $31. Shares of the company were down 0.39 percent or $0.12 to $30.83.

Clean Harbors Inc. (NYSE: CLH) lost 3.14 percent or $2.98 to $91.93 as it is downgraded to Outperform from Strong Buy at Raymond James.

Ormat Technologies Inc. (NYSE: ORA) slipped 5.45 percent or $1.37 to $23.79 as it is downgraded to Neutral from Outperform at Robert W. Baird.

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