Allstate (NYSE:ALL): RBC Capital has upgraded Allstate to Outperform from Sector Perform, based on improved ROE potential, more efficient capital utilization, and attractive valuation. The price target has also been raised, to $59 from $51.
Hanesbrands (NYSE:HBI): ISI Group has brought Hanesbrands to Buy from Neutral, as the firm believes that the company’s acquisition of Maidenform (NYSE:MFB) is quite complementary with little overlap, has “huge” supply chain synergies, and does not impact its cash flow or debt paydown system.
E-Trade (NASDAQ:ETFC): Following the company’s stronger-than-expected second-quarter results, Wells Fargo believes the company’s fundamentals are getting much better, although it keeps a Market Perform rating on the shares due to valuation. The price target range has also been raised, to $15-$17 from $11-$13.
Yum! Brands (NYSE:YUM): Following a meeting with the company’s management, Oppenheimer believes that Yum’s China sales are trending in line with its guidance, and has accordingly raised its 2014 earnings per share estimate for the company to $4 from $3.81. It keeps an Outperform rating on the shares.
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