JPMorgan (NYSE:JPM): Wells Fargo says JPMorgan’s updated outlook today is a “bit more” negative due to litigation costs and weaker mortgage production profitability in the third quarter. However, Wells believes JPMorgan shares offer “excellent value” and keeps an Outperform rating on the stock.
Fusion-io (NYSE:FIO): Piper Jaffray upgraded Fusion-io to Overweight from Neutral, citing valuation and the expanding PCIe flash storage market. The firm raised its price target on the shares to $17 from $12.
E-Trade (NASDAQ:ETFC): Macquarie upgraded E-Trade to Outperform from Neutral due to compelling valuation and an improving balance sheet. The analyst said the bank segment is able to divide excess capital to the parent in order to pay down debt and that brokerage unit improvement is a catalyst. The price target on the shares has been raised to $21 from $14.
Dollar General (NYSE:DG): Barclays downgraded Dollar General to Equal Weight from Overweight due to potential gross margin weakness from third-quarter markdowns, difficult fourth-quarter comps, and what is likely to be difficult holiday competition. The price target on the shares remains $58.