This morning, JP Morgan upgraded shares of 3M (NYSE:MMM) from underweight to neutral as the company's plan to enhance shareholder value through increased dividends and share buybacks is a positive for the stock. In the report, JP Morgan set a $128 price target. Shares of 3M were higher by just over 1% on the news.
Topeka Capital initiated coverage on shares of Lululemon (NASDAQ:LULU) with a buy rating, noting that the company is a leader in the sector despite management setback seen earlier in the year. In the report, Topeka set a $70 price target. Shares of Lululemon were relatively flat on Friday, trading just below $59 per share.
Credit Suisse upgraded shares of Carnival (NYSE:CCL) from neutral to outperform as new management is making a difference. In the report, Credit Suisse increased its EPS estimates and set a $43 price target. Shares of Carnival were higher by 1.2% on Friday.
And UBS upgraded shares of Red Hat (NYSE:RHT) from neutral to buy as the latest earnings report showed strong cross selling between products. In the report, UBS set a $58 price target. Shares of Red Hat were sharply higher today, climbing more than 19%.
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