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Upgrades & Downgrades: WFM, ONE, MSCC, VAR, NTSP, AMD, HGG, TMK

 July 11, 2011 01:39 PM
 


As the US stock markets move south, several stocks were either upgraded or downgraded by analysts and rating agencies. Some notable stocks are discussed here.

Upgrades:Whole Foods Market Inc. (Nasdaq: WFM) the natural-foods retailer, has been upgraded by analyst at Goldman Sachs to buy from neutral and it has also been added to the conviction list at Goldman Sachs, with a revised price target of $76 a share from $64 a share, reflecting increased earnings estimates. WFM is trading higher by 0.61 percent to $64.75 on Monday.

Analyst at Goldman Sachs upgraded the stock rating of Higher One Holding Inc. (NYSE: ONE) to buy from neutral with a $23 price target on shares. Goldman upgraded the stock on the basis of high EPS growth, recurring revenue model, and leading ROC profile. Shares of Higher One were trading marginally lower by 0.05 percent to $19.52 on Monday.

Microsemi Corp. (Nasdaq: MSCC) has been upgraded by analysts at Oppenheimer to outperform from perform with a new price target of $28 a share. Oppenheimer upgraded the stock citing solid growth visibility for the company. MSCC is trading higher by 2.54 percent to $21.40 a share.

Shares of Varian Medical Systems Inc. (NYSE: VAR) were trading higher by 0.33 percent to $71 a share, after analysts at Ticonderoga upgraded the stock rating to buy from neutral, with a price target of $84 a share. Ticonderoga upgraded the stock citing, Varian should not be hurt by new reimbursement plans.

Downgrades:

Shares of Netspend Holdings Inc. (Nasdaq: NTSP) were trading lower by 5.47 percent to $8.98 a share on Monday, after analyst at Goldman Sachs downgraded the stock rating to neutral from buy with maintaining its earlier price target of $10 a share.

Advanced Micro Devices Inc. (NYSE: AMD) has been downgraded by analyst at JMP Securities to underperform from market perform, as the company gets ready to report its second quarter earnings on July 21, 2011. The revised price target for the stock is $4.50 a share.

HHGregg Inc. (NYSE: HGG) has been downgraded by analysts at William Blair to market perform from outperform on Monday. Shares of HHGregg are trading lower by 5.29 percent to $12.88 after the downgrade.

Torchmark Corp. (NYSE: TMK) has been downgraded by analysts at JPMorgan to neutral from overweight, with a new price target of $44 a share. Shares of Torchmark were trading lower by 2.18 percent to $42.23 on Monday.

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