This morning, Citigroup upgraded shares of Abbott Labs (NYSE:ABT) from sell to hold citing valuation. The firm sees the company building its presence in the emerging markets which should yield positive results going forward. With the upgrade, Citigroup raised its price target from $47 per share up to $50.
In morning trading, shares of Abbott Labs were showing modest gains, up a little more than 1% so far.
UBS upgraded shares of CF Industries (NYSE:CF) from neutral to buy based on valuation. The farming industry is poised to rebound and corn acreage should be higher going forward.
Shares of CF Industries were trading higher on the news, up about 1% today.
And MKM Partners upgraded shares of Garmin (NYSE:GRMN) from neutral to buy as a contrarian pick. Wall Street has grown pessimistic as the market for personal navigation devices becomes more saturated, but MKM sees Garmin as the best of breed. With the upgrade, the firm maintained its price target of $40 per share.
Shares of Garmin were trading flat, despite the upgrade, gaining just a penny this morning.
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