This morning, KeyBanc upgraded shares of TRW Automotive (NYSE:TRW) from Hold to Buy as the firm believes global trends for light vehicles are on the rise. Analysts at KeyBanc see margins improving at TRW and believe free cash flow will be used to reduce debt levels and improve the company's balance sheet overall. With the upgrade, KeyBanc set a price target of $29 per share.
Shares of TRW responded well to the upgrade, gaining more than six percent in morning trading.
Barclays upgraded shares of Palm (NASDAQ:PALM) from Underweight to Equal Weight as the firm feels the recent price decline has shares trading closer to fair value. Barclays sees the company posting a loss of twenty six cents per share in 2010, but a gain of twenty nine in 2011. With the upgrade, however, the firm did lower its price target from $12 per share down to $11.
In morning trading, shares of Palm were on the move, gaining more than five percent following the upgrade.
And Deutsche Bank upgraded shares of SunPower (NASDAQ:SPWRA) from Hold to Buy on valuation. While the firm was disappointed with third quarter margins, they feel fourth quarter numbers will grow as factory utilization improves. With the upgrade, the firm set a price target of $31 per share and set 2011 EPS estimates at $2.30 per share.
Shares of SunPower climbed on the upgrade, gaining almost five and a half percent this morning.
For MarketNewsVideo.com, I'm Justin Shackil.
