Upgrades: JCG, NOK, WSM, F Friday, August 28, 3:06 PM ET
After the bell on Thursday, J. Crew (JCG) reported strong second quarter earnings of twenty nine cents per share, beating Wall Street estimates of fifteen cents per share. Following the better-than-expected earnings, Citigroup upgraded the stock from Hold to Buy citing encouraging margins in the quarter. With the upgrade, the firm set a price target of $40 per share.
In morning trading, shares of J. Crew were trading higher, up almost six percent so far today.
Boutique investment firm, Davenport, upgraded shares of mobile phone maker Nokia (NYSE:NOK) from Neutral to Buy after testing the company's new N900 smartphone. The firm believes the new phone has the potential to compete in the crowded smartphone markets, and set a price target of $18 per share.
Investors were optimistic after reading the analyst's report, sending shares of Nokia up almost two and a half percent.
Williams Sonoma (NYSE:WSM) shares were on the rise this morning following an upgrade from Goldman Sachs. The investment banking giant upgraded the company from Neutral to Buy and set a price target of $21 per share. The firm cited improving margins and modest expectations for revenue growth in the coming quarters.
Shares of Williams Sonoma were showing healthy gains this morning, up more than five percent.
And shares of Ford (NYSE:F) received yet another catalyst to climb higher this morning. Buckingham Research upgraded the stock from Accumulate to Strong Buy and set a price target of $12 per share. Based on the firm's price target, investors could realize more than fifty percent gains based on yesterday's closing price.
Shares of Ford were up modestly this morning, up a little more than one percent.
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