AB InBev (NYSE:BUD): After reinstating coverage of the stock with an Overweight rating and $124 price target, JPMorgan added AB InBev to its European Analyst Focus List as it believes concerns over Brazil have created a buying opportunity.
Hormel Foods (NYSE:HRL): KeyBanc has upgraded Hormel Foods from Hold to Buy, citing increased confidence in organic growth initiatives following a series of management meetings. The analyst said management has a good track record of generating consistent returns and successfully integrating acquisitions and expects further M&A initiative given its strong balance sheet. Price target is $48.
SolarCity (NASDAQ:SCTY): Credit Suisse has brough SolarCity from Neutral to Outperform, following discussion with the California Public Utilities Commission. The firm believes the CPUC has softened its stance and will continue to support distributed solar generation even if net metering caps are not raised by 2015, removing an overhang. The price target has also been raised from $28 to $52.
IBM (NYSE:IBM): Citigroup believes that while the Street remains pessimistic, IBM’s revenue will begin to grow again in the second half of 2013. The firm reiterates a Buy rating on the stock with a $250 price target.
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