Stock Upgrades: Hewlett-Packard Company Continues Its Impressive Turnaround

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July 8 has historically been unusually memorable in American finance, for reasons both heartwarming - in 1889, the the Wall Street Journal published its inaugural issue - and horrible - a Depression-era Dow (^DJI) low of 41.22 in 1932 . Its 2013 iteration will linger less long in the memory, but most investors would have been happy enough with the modest gains in thin volume that yesterday provided. Shares posted their third straight increase as a disgraced ex Northeastern governor with a Wall Street past suddenly resurfaced. (Sorry, wrong one . It's just so hard to tell the rotating rogue's gallery apart.) Mr. Spitzer, who made his name way back when dot-com stocks were attracting irrationally exuberant "Buy!" ratings and insane four-figure price targets, will instantly recognize the altered landscape - especially after Priceline.com ( PCLN ) rode bullish research and a $1,010 target price to rise 3.13%, a level it hasn't seen since the heady days of 2000. Elsewhere, the Treasury is being sued for its role in the Fannie ( FNMA ) and Freddie ( FMCC ) debacle, but our former Treasury Secretary laughs all the way to the bank .

There are no top-tier economic reports released today. On the earnings front, expect quarterly announcements out of Helen of Troy ( HELE ), Hi-Tech Pharmacal ( HITK ), and Wolverine World Wide (WWW).

Alumina Limited (AWC): JPMorgan moves the commodity name to Neutral from Underweight.

Convergys Corporation (CVG): Shares are now Neutral from Sell at Goldman Sachs.

Freescale Semiconductor Ltd (FSL): Piper Jaffray juices its rating to Overweight from Equal Weight.

Hewlett-Packard Company (HPQ): This Dow (^DJI) member - the worst performing blue chip last year yet the best thus far in 2013 - is boosted to Buy from Hold at Brean Capital. Shares are currently up about 0.9% as a result.

International Rectifier Corporation (IRF): Raymond James raises its recommendation to Strong Buy from Buy.

LVMH Moet Hennessy Louis Vuitton SA (LVMUY): France's last name in luxury, fresh from buying an Italian cashmere clothier for $2.6 billion, is lifted to Buy from Hold at Renaissance Capital.

Prosperity Bancshares, Inc. (PB): Oppenheimer increases its investment opinion to Perform from Underperform.

Rosetta Resources Inc. (ROSE): ROSE is raised to Outperform from Neutral at Macquarie.

Signature Bank (SBNY): Saying that the increase in interest rates should be favorable for the firm's earnings, Oppenheimer raises its rating to Perform from Underperform.

Sprint Nextel Corporation (S): Shares are boosted to Outperform from Market Perform at Cowen.

Technicolor SA (TCLRY): Goldman takes the stock to Buy from Hold.

(See also: Stock Downgrades: Run From the Robots of Intuitive Surgical, Inc. and New Stock Coverage: Denture Maker Prestige Brands Holdings, Inc. Puts Its Money Where Its Mouth Is .)



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: FMCC , FNMA , HELE , HITK , PCLN

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