Verizon (NYSE:VZ): RW Baird upgraded Verizon to Outperform from Neutral based on improved earnings growth and long-term positioning following the acquisition of Vodafone’s 45 percent stake in Verizon Wireless. The price target on the shares has been raised to $53 from $52.
Carnival (NYSE:CCL): Susquehanna upgraded Carnival to Positive from Neutral, believing that the company is poised for multiyear double-digit earnings growth driven by an improving global macro environment and slower industry capacity. The price target on the shares has been raised to $43 from $35.
Apple (NASDAQ:AAPL): Cantor Fitzgerald initiated shares of Apple this morning with a Buy rating and a $777 price target, saying that the stock is in the midst of a recovery. Cantor believes Apple is on the verge of an extended product cycle over the next 12-18 months and finds the valuation very attractive at current levels. Shares of Apple closed Tuesday at $488.58.
Citigroup (NYSE:C): Bernstein believes that Citi’s emerging market businesses will continue to grow even though some emerging economies are slowing. The firm thinks the bank’s exposure to a large number of countries, clients, and types of businesses provide it with a natural hedge, and Bernstein keeps an Outperform rating on the stock.