This morning, Morgan Stanley upgraded shares of Hess (NYSE:HES) from Equal Weight to Overweight based on valuation. The firm believes the company will report strong exploration results in the second half of 2010, strengthening its pipeline. With the upgrade, Morgan Stanley set a price target of $75 per share.
In morning trading, shares of Hess climbed a little more than one percent following the upgrade.
Soleil Securities upgraded shares of Suntech Power Holdings (NYSE:STP) from Sell to Hold after the company reported strong third quarter results. The results beat Wall Street estimates on both revenue and profits as the company earned sixteen cents per share on $473 million in sales. With the upgrade, the firm raised its price target to $13.50 per share.
Despite the upgrade, investors sent shares lower in morning trading, down more than three and a half percent.
And Citigroup upgraded shares of Liberty Interactive (NASDAQ:LINTA) from Hold to Buy as analysts with the firm expect EBITDA to continue growing in 2010. The firm concedes it's a challenging enviornment for consumer spending, but believes the company has taken the right steps so far to continue adding customers. With the upgrade, Citigroup set a price target of $13.25 per share.
In morning trading, shares of Liberty Interactive were trading modestly higher, up about one half of one percent.
For MarketNewsVideo.com, I'm Sayoko Murase.
