Stock Upgrades: There's No Stopping Nokia

By Justin Sharon,

Shutterstock photo

Stocks advanced again, but some equities did buck an otherwise ebullient session. J.C. Penney ( JCP ), whose tea kettles paid inadvertent homage to a dictator , dropped 1.59% after finding itself in similarly hot water with a coffee press .

Apple Inc. ( AAPL ), thrice downgraded this morning, tumbled 2.28% after its latest iPhone unveil. Elvis Costello, of Radio Radio fame, attended the event , clearly confusing the company with its Music Hall arch enemy Samsung Electronics (OTCMKTS:SSNLF). Given the stock's subsequent red ink, Crimson Tide might have been a better selection. Or perhaps Good Year for the Roses , with Amazon ( AMZN ) ending up after going all floral on us .

Today in economics, analysts expect July wholesale inventories to post an improvement from the prior month's pace at 10:00 a.m. Eastern. On the earnings front, Men's Wearhouse ( MW ) and Vera Bradley ( VRA ) are each expected to release results.

Alcatel-Lucent (ALU): Shares get upgraded to Hold from Sell at Berenberg.

Banco Santander (SAN): JPMorgan moves the stock to Neutral from Underweight.

ConAgra (CAG): The company gets upgraded to Buy from Neutral at Goldman Sachs.

DiamondRock Hospitality (DRH): Shares are increased to Outperform from Perform with a $12 target at FBR Capital, which highlights recent renovations.

Ericsson (ERIC): The telecom name is now Buy from Sell at Berenberg.

Kennametal (KMT): Shares get upgraded to Buy from Neutral at Global Hunter Securities, which also increases its price objective to $55 from $37.

Marriott International (MAR): MAR is moved to Buy from Neutral at UBS.

Morgan Stanley (MS): UBS upgrades its fellow financial firm to Buy from Hold with a $33 target amid optimism over its wealth management segment.

Nokia (NOK): Shares, on a great recent run, are showing further strength before the bell after being taken to Buy from Neutral at Bank of America-Merrill Lynch, to Buy from Sell at Berenberg, and to Outperform from Sector Perform at RBC Capital Markets, whose target also increases by $2 to $7.

Polo Ralph Lauren (RL): RL is added to the Focus List at Citigroup.

Revlon (REV): REV gets raised to Outperform from Perform by BMO Capital.

Snap-On Inc. (SNA): Janney Capital boosts the stock to Buy from Neutral.

(See also: Stock Downgrades: Fall Is Absolutely No Time to Go Apple Picking and New Stock Coverage: Plundering Pirates Are Disappointed in Disney .)

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

This article appears in: Investing Stocks
Referenced Stocks: AAPL , AMZN , JCP , MW , VRA

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