Citigroup upgraded a pair of credit card issuers this morning. Citi upgraded MasterCard (MA)from Sell to Hold and assigned the stock a price target of $209, and upgraded Capital One (COF) from Hold to Buy and assigned it a $44 price target.
Shares of MasterCard were trading close to even following the upgrade, but shares of Capital One have gained just about four percent following the report.
Oppenheimer upgraded shares of casino operator Wynn Resorts (WYNN) from Underperform to Perform. The stock has gained more than sixty percent over the last two months, and it appears that the upgrade is more of a reaction to the share appreciation than anything else. With the upgrade, the firm raised its price target from $36 per share all the way up to $61 per share.
In morning trading, shares of Wynn Resorts gained almost four percent following the upgrade from Oppenheimer.
And JP Morgan upgraded Morgan Stanley (MS) from Neutral to Overweight citing regulatory proposals that would favor the investment bank more than peers. With the upgrade, the firm raised its price target modestly from $33 per share up to $36, and reaffirmed its 2009 EPS estimates of three cents per share.
Shares of Morgan Stanley edged higher Wednesday morning, gaining a little more than one percent so far.
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