Dow Jones Fuels Higher Ahead of Bernanke as Analysts Release These Stock Ratings August 24th

Wall St. Watchdog reveals information about companies for which stock analysts either upgraded or downgraded the shares on August 24th:

Upgrades

  • Allied Nevada (AMEX:ANV): RBC Capital Mkts upgraded its rating on this company from Sector Perform to Outperform and changed its price target from $44 to $67.  About the company: Allied Nevada Gold Corporation evaluates, acquires, explores, and advances gold exploration and potential development projects.  The Company’s holdings include projects in Nevada, California, Idaho, and Colorado in the United States, as well as Bolivia, Mexico, Indonesia, and Australia.
  • Newmont Mining (NYSE:NEM): RBC Capital Mkts upgraded its rating on this company from Underperform to Sector Perform and changed its price target from $67 to $87.  About the company: Newmont Mining Corporation acquires, explores, and develops mineral properties. The Company produces gold from operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico.  Newmont also mines and processes copper in Indonesia.
  • Summit Hotel (INN): KeyBanc Capital Mkts upgraded its rating on this company from Hold to Buy and changed its price target to $9.  About the company: Summit Hotel Properties, Inc. (Summit Hotel) is a hotel investment company. The majority of the Company’s hotels operate under premium franchise brands owned by Marriott International, Inc. (Courtyard by Marriott, Residence Inn, SpringHill Suites, Fairfield Inn and TownePlace Suites), Hilton Worldwide (Hampton Inn, Hampton Inn & Suites and Hilton Garden Inn), InterContinental Hotels Group (Holiday Inn Express and Staybridge Suites) and Hyatt Hotels and Resorts (Hyatt Place). Substantially all of its assets will be held by, and all of its operations will be conducted through, its operating partnership, Summit Hotel OP, LP.
  • Tesoro (NYSE:TSO): The Benchmark Company upgraded its rating on this company from Sell to Buy and changed its price target to $25.  About the company: Tesoro Corporation refines and markets petroleum products, and provides transporting services. The Company operates refineries, as well as a network of retail and refueling stations in the western United States. Tesoro also markets gasoline and diesel fuel to independent marketers and commercial end users.
  • AtriCure (NASDAQ:ATRC): Morgan Keegan upgraded its rating on this company from Mkt Perform to Outperform and changed its price target from $14 to $13.  About the company: AtriCure, Inc. develops, manufactures, and sells surgical devices designed to create precise lesions in soft tissues. The Company’s bipolar ablation system is used by cardiothoracic surgeons as a standard treatment alternative to create lesions in heart tissue to block the abnormal electrical impulses that cause atrial fibrillation.

Downgrades

  • Sanmina-SCI (NASDAQ:SANM): RBC Capital Mkts upgraded its rating on this company from Sector Perform to Underperform and changed its price target from $12 to $5.  About the company: Sanmina-SCI Corporation provides electronics contract manufacturing services to customers located around the world. The Company offers its customers expertise in new product introduction, manufacturing, and design and fabrication of complex interconnect products. Sanmina-SCI specializes in circuit fabrication, system assembly, integration, and high-end enclosures and cabling.
  • Benchmark Elec (NYSE:BHE): RBC Capital Mkts upgraded its rating on this company from Outperform to Sector Perform and changed its price target from $20 to $13.  About the company: Benchmark Electronics, Inc. provides contract electronics manufacturing and design services. The Company serves original equipment manufacturers of medical devices, industrial control equipment, testing and instrumentation products, and telecommunications equipment. Benchmark also offers product design, printed circuit board layout, prototyping and test development services.
  • Randgold Resources (NASDAQ:GOLD): RBC Capital Mkts upgraded its rating on this company from Outperform to Sector Perform.  No price target was given.  About the company: Randgold Resources Limited is a gold mining and exploration company. The Company conducts gold mining operations in regions throughout the gold regions of Africa.
  • Royal Caribbean (NYSE:RCL): Argus upgraded its rating on this company from Buy to Hold.  No price target was given.  About the company: Royal Caribbean Cruises Ltd. is a global cruise company operating a fleet of vessels in the cruise vacation industry. The Company operates through brands which primarily serve the contemporary, premium and deluxe segments of the cruise vacation industry, which also includes the budget and luxury segments.
  • Inphi (NYSE:IPHI): Stifel Nicolaus upgraded its rating on this company from Buy to Hold.  No price target was given.  About the company: Inphi Corporation is a fabless provider of high-speed analog semiconductor solutions for the communications and computing markets. The Company’s solutions provide a high-speed interface between analog signals and digital information in systems such as telecommunications transport systems, enterprise networking equipment, datacenter and enterprise servers, storage platforms.
  • Pacific Sunwear (NASDAQ:PSUN): Oppenheimer upgraded its rating on this company from Outperform to Perform.  No price target was given.  About the company: Pacific Sunwear of California, Inc. operates a nationwide mall-based specialty retail chain of stores. The Company specializes in casual apparel, footwear, and related accessories catering to teenagers and young adults.
  • Boston Scientific (NYSE:BSX): Morgan Keegan upgraded its rating on this company from Outperform to Mkt Perform and changed its price target from $8 to $7.  About the company: Boston Scientific Corporation develops, manufactures, and markets minimally invasive medical devices. The Company’s products are used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology and neuromodulation.
  • Abbott Labs (NYSE:ABT): Morgan Keegan upgraded its rating on this company from Outperform to Mkt Perform and changed its price target from $60 to $57.  About the company: Abbott Laboratories discovers, develops, manufactures, and sells a broad and diversified line of health care products and services. The Company’s products include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott markets its products worldwide through affiliates and distributors.

(Note: Data about stock ratings are sourced from Briefing.com via the Wall St. Journal.  All data are assumed to be accurate.)

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