Two of China's largest oil and gas companies received a boost this morning when Morgan Stanley issued upgrades. China National Offshore Oil Corporation (NYSE:CEO) was upgraded from Neutral to Overweight, while China Petroleum and Chemical (NYSE:SNP) was upgraded from Underweight to Neutral.
In morning trading, shares of China Petroleum and Chemical rose almost one and a half percent, while shares of China National Offshore Oil Corporation climbed more than four percent.
Software giant Adobe (NASDAQ:ADBE) was upgraded this morning by the investment firm Kaufman Brothers from Hold to Buy. The firm expects the company to release the latest version of Acrobat in the first quarter of 2010 and Creative Suite 5 in the second quarter of 2010. The firm has noticed that historically, Adobe shares have outperformed the NASDAQ in the quarters prior to major software releases.
Shares of Adobe jumped more than five percent on the upgrade.
And Deutsche Bank upgraded shares of HealthSouth (NYSE:HLS) from Hold to Buy this morning as the firm believes that volume and margin leverage could propel second quarter earnings higher than Wall Street estimates. With the upgrade, the firm set a $16 price target for the company.
In morning trading, shares of HealthSouth climbed more than three percent on very heavy volume.
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