Citigroup (NYSE:C) gave Veeco Instruments (NASDAQ:VECO) a boost on Tuesday, adding the technology company to its Top Picks Live list with a "buy" rating and $52 per share price target. Veeco serves the high brightness light emitting diode, solar, data storage, scientific research, semiconductor, and industrial markets worldwide, and is a member of the S&P 600 SmallCap index. According to ETFChannel.com, the iShares S&P SmallCap 600 Index Fund ETF (AMEX:IJR) holds just over 18 million dollars worth of VECO shares.
With the overall markets down sharply on Tuesday, shares of VECO were bucking the trend, trading modestly higher.
Goldman Sachs (NYSE:GS) upgraded shares of Buckeye Partners (NYSE:BPL) from Sell to Neutral, matching its overall rating for the MLP sector. Goldman noted that MLP shares are generally fully valued, even in the face of "lukewarm" fundamentals, and said that a slowdown in the economic recovery would put downward pressure on cash flow growth over the next few years.
On Tuesday, Buckeye shares were benefiting from the upgrade, trading flat to slightly higher on the day. Buckeye Partners is held by the PowerShares Dividend Achievers Portfolio (AMEX:PFM), which was down over 1% on the day.
And shares of online brokerage Tradestation (TRAD) jumped 4%. On Tuesday the company announced the launch of real-time trading in Eurex futures. Macquarie upgraded the stock to Outperform from Neutral.
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