Upgrades/Downgrades: DRYS, NYX, YHOO, FC, WLT Friday, July 10, 1:43 PM ET
Cantor Fitzgerald upgraded DryShips (DRYS) this morning from Sell to Hold. This upgrade comes after yesterday's announcement that Dryships had entered into an agreement to acquire the remaining 25% of the total issued and outstanding capital stock of Primelead Shareholders Inc. Cantor applied a $6 per share price target to DryShips stock.
Despite the upgrade, in morning trading shares of DryShips was trading at $5.05, down about 4%.
And this morning BMO Capital Markets upgraded NYSE Euronext (NASDAQ:NYX) from Underperform to Market Perform. NYSE Euronext is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. BMO set a price target of $25 per share.
After today's upgrade, NYSE Euronext is trading at $24.63, up 2.33%.
Yahoo! (YHOO) was upgraded today by Thomas Weisel from Underweight to Market Weight, pointing to current valuation and their belief in Yahoo! management and organizational changes. Weisel also raised their price target from $11 per share to $16 per share.
In morning trading, Yahoo! shares were trading at $14.98, up almost 3 percent.
Yesterday, Franklin Covey (NYSE:FC), a global provider of training and consulting services announced third quarter results. Today, BWS Financial downgraded Franklin Covey from Buy to Hold. BWS made the downgrade after Franklin's third quarter results missed their estimates. The analyst recommended "moving to the sidelines awaiting lower price points for reentry."
Franklin Covey shares are trading at $5.89 down almost 12%.
Walter Energy (WLT), a leading U.S. producer and exporter of premium metallurgical coal for the global steel industry saw their stock downgraded today by Brean Murray. The downgrade was based on valuation as Walter shares reached the analyst's previous target of $37 per share.
Walter Energy shares are currently trading at $35.94, down 3.57%.
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