Bank Analysts Upgrade These Stocks on Volatile Trading Friday

Following is information on companies for which stock analysts upgraded their ratings for today, August 5th:

  • Kroger (NYSE:KR): Longbow upgraded their rating on this stock from Neutral to Buy and gave a price target of $30.  About the company: The Kroger Co. operates supermarkets and convenience stores in the United States. The Company also manufactures and processes some of the foods that its supermarkets sell.
  • EOG Resources (NYSE:EOG): Howard Weil upgraded their rating on this stock from Market Perform to Market Outperform and changed their price target from $114 to $118.  About the company: EOG Resources, Inc. explores for, develops, produces and markets natural gas and crude oil. The Company operates in major producing basins in the United States, Canada, Trinidad, the United Kingdom North Sea, China and, from time to time, select other international areas.
  • Tanger Factory (NYSE:SKT): Hilliard Lyons upgraded their rating on this stock from Neutral to Long-term Buy and changed their price target to $29.  About the company: Tanger Factory Outlet Centers, Inc. is a real estate investment trust that owns and operates factory outlet centers. These centers house a variety of brand name and designer fashion outlet stores. Customer amenities such as common areas, reading materials, and children’s play areas are available in Tanger’s outlets, which are located coast to coast throughout the United States.
  • Pennant Investment (NASDAQ:PNNT): Stifel Nicolaus upgraded their rating on this stock from Hold to Buy and changed their price target to $12.  About the company: PennantPark Investment Corporation is a business development company which primarily invests in senior debt, subordinated debt and equity of U.S. middle market companies.
  • Plains All Amer (NYSE:PAA): Morgan Keegan upgraded their rating on this stock from Mkt Perform to Outperform and changed their price target from $68 to $69.  About the company: Plains All American Pipeline, L.P. is involved in interstate and intrastate crude oil pipeline transportation and crude oil terminalling storage activities. The Partnership is also involved in gathering and marketing activities. Plains owns and operates a seasonally heated, common carrier crude oil pipe-line extending from CA to TX and an oil gathering system in CA.
  • Bill Barrett (NYSE:BBG): Global Hunter Securities upgraded their rating on this stock from Accumulate to Buy and changed their price target to $59.  About the company: Bill Barrett Corporation is an independent oil and gas company focused on natural gas exploration and development in the Rocky Mountain region of the United States.
  • Transocean (NYSE:RIG): Global Hunter Securities upgraded their rating on this stock from Neutral to Accumulate and changed their price target to $63.  About the company:  Transocean Ltd. is an offshore drilling contractor. The Company owns or operates mobile offshore drilling units, inland drilling barges, and other assets utilized in the support of offshore drilling activities worldwide. Transocean specializes in technically demanding segments of the offshore drilling business, including deepwater and harsh environment drilling services.
  • Plains Exploration (NYSE:PXP): Global Hunter Securities upgraded their rating on this stock from Accumulate to Buy and changed their price target from $40 to $54.  About the company:  Plains Exploration & Production Company is an independent oil and gas company with onshore and offshore operations in California, West Texas, East Texas and the Gulf Coast region. The Company is primarily involved in the upstream activities of acquiring, exploiting, developing, and producing oil and gas.
  • W&T Offshore (NYSE:WTI): Global Hunter Securities upgraded their rating on this stock from Neutral to Accumulate and changed their price target from $20 to $30. About the company: W&T Offshore, Inc. is an independent oil and natural gas company focused primarily on the Gulf of Mexico area in the United States.
  • Continental Resources (NYSE:CLR): Global Hunter Securities upgraded their rating on this stock from Accumulate to Buy and changed their price target to $78. About the company: Continental Resources, Inc. and its subsidiaries explore, exploit, develop, and acquire oil and gas reserves, primarily in the Rocky Mountains and the MidContinent, as well as in the Gulf Coast region of Texas and Louisiana. The Company also owns and operates natural gas pipelines, gathering systems, and processing plants.
  • JB Hunt Trans (NASDAQ:JBHT): Stifel Nicolaus upgraded their rating on this stock from Hold to Buy and changed their price target to $52. About the company: J.B. Hunt Transport Services, Inc. and its subsidiaries provide transportation and logistics services in the United States, Canada, and Mexico. The Company transports a variety of products including automotive parts, department store merchandise, paper and wood products, food and beverages, plastics, chemicals, and manufacturing materials and supplies.
  • Hub Group (NASDAQ:HUBG): Stifel Nicolaus upgraded their rating on this stock from Hold to Buy and changed their price target to $40. About the company: Hub Group, Inc. is a full-service transportation provider, offering intermodal, truck brokerage, and logistics services. The Company arranges for the movement of its customers’ freight in containers and trailers over long distances. Hub Group operates through a nationwide network of hubs, located near significant concentrations of shipping customers and railheads.
  • Canadian Natl Rail (NYSE:CNI): Stifel Nicolaus upgraded their rating on this stock from Hold to Buy and changed their price target to $88. About the company: Canadian National Railway Company operates a network of track in Canada and the United States. The Company transports forest products, grain and grain products, coal, sulfur, and fertilizers, intermodal, and automotive products. Canadian National operates a fleet of locomotives and railcars.
  • Cogent Communications (NASDAQ:CCOI): Collins Stewart upgraded their rating on this stock from Neutral to Buy and changed their price target to $18. About the company: Cogent Communications Group, Inc. is a next generation optical Internet service provider focused on delivering ultra-high speed Internet access and transport services. The Company serves businesses in the multi-tenant marketplace and service providers located in major metropolitan areas across the United States.

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

Advantage: Check out our interactive stock charts, fundamentals, Twitter stream, and more >>

Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter >>

More from The Cheat Sheet