This morning, Wells Fargo upgraded shares of hotel chain Gaylord Entertainment (NYSE:GET) from Underperform to Market Perform. The firm sees booking rates increasing from 2010 to 2011, but warns the speed of the economy's recovery will be the deciding factor. The uncertainty and risk for 2010 is factored into the stock price currently, and Wells Fargo has raised its valuation range to between $16 and $18 per share.
Shares of Gaylord Entertainment jumped on the upgrade, climbing more than six and a half percent so far.
Piper Jaffray upgraded shares of Digital River (NASDAQ:DRIV) from Neutral to Overweight as the firm sees the business growing. Analaysts at the firm do concede that 2010 will be a rebuilding year, but believe margins should be expanding by the fourth quarter and into 2011. With the upgrade, Piper Jaffray raised its price target from $21 per share up to $30.
In morning trading, shares of Digital River shot higher following the news, gaining more than nine percent.
And Bank of America upgraded shares of JB Hunt (NASDAQ:JBHT) from Neutral to Buy following poor earnings from fellow logistics company Con-Way (NYSE:CNW). Analysts at the firm now prefer owning shares of JB Hunt and have set a price target of $37 per share. Con-Way saw its shares downgraded from Buy to Neutral and had its price target reduced from $50 per share to $35.
Shares of JB Hunt gained almost one and a half percent following the upgrade from Bank of America, while shares of Con-Way lost more than nine percent on the downgrade.
For MarketNewsVideo.com, I'm Sayoko Murase.
