Upgrades: AUY, MWW, CPKI Thursday, October 8, 1:49 PM ET
This morning, Yamana Gold (AUY) saw its shares upgraded from three major investment firms. Scotia and BMO both upgraded shares to Outperform and TD Newcrest raised its rating from Hold to Buy. Analysts at TD cited lower costs and a renewed focus on resource growth rather than expansion as the reasons for the upgrade. Furthermore, the firm raised its price target from $14 per share up to $15.
Shares of Yamana were on the move Thursday morning, gaining almost five percent following the upgrades.
JP Morgan upgraded shares of Monster Worldwide (MWW) from Neutral to Overweight as the firm believes the economic recovery will lead to stronger earnings going forward. The firm did warn that it expects "soft results" for the next few quarters as employers ease back into workforce expansion, but did set a 2010 price target of $24 per share showing long-term promise for investors.
In morning trading, shares of Monster were showing strong gains, up more than seven percent.
And KeyBanc upgraded shares of California Pizza Kitchen (CPKI) from Hold to Buy as the company increased guidance from about twenty cents per share up to twenty three cents per share. Analysts at KeyBanc were impressed with the company's ability to increase earnings as same store sales declined. Management's initiatives to cut cost and push margins higher seems to be showing results in the third quarter. With the upgrade, the firm set a price target of $18 per share.
Shares of the restaurant chain jumped on the news, gaining almost ten percent so far today.
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