This morning, RBC Capital Markets initiated coverage on shares of JP Morgan (NYSE:JPM) with an outperform rating as the recent pullback in the stock has created a buying opportunity. The firm believes shares are attractive at these levels and believes the $45 price target is attainable with normalized earnings.
Shares of JP Morgan were heading higher on the news, gaining a litle more than 2.6% today.
Bank of America upgraded shares of Textron (NYSE:TXT) from neutral to buy citing valuation. The stock has fallen with the markets over the last two months and are now trading more than 25% below the firm's price target of $25 per share.
In morning trading, shares of Textron were responding well to the upgrade, gaining more than 4% so far.
And UBS raised its earnings estimates on shares of Chevron (NYSE:CVX) through 2011 as the company sees better results going forward. Cost cutting initiatives will help drive profits higher and UBS maintains its buy rating.
Shares of CVX were showing strong gains on Tuesday, picking up 1.9% on the news.
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