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Stock Upgrades: Athenahealth Is in Fine Fettle

By: Minyanville
Posted: 5/29/2013 9:22:00 AM
Referenced Stocks: ATHN;DOLE;MRK;NFLX;TIF

It didn't take 20/20 hindsight to know the Dow (^DJI) would gain for a 20th straight Tuesday, certainly not after the 20-city Case-Shiller home price index showed an ebullient real estate market. Also boosting bourses was consumer confidence reaching its highest level since February 2008 , an unimaginably distant age when markets actually occasionally fell, and hard, on the week's second day .

Even Messrs. Case and Shiller have been known, as all couples do, to have the occasional tiff but Tiffany ( TIF ), up 3.95% at a fresh 52-week peak just in time for wedding season, brooked no argument. Nasdaq (^IXIC) is now up for 10 successive Tuesdays, matching a record it set in 1972. Back then Watergate was just starting to stir and if the current White House appears to be uneasily reliving that era , it could do worse than send for Merck's ( MRK ) White House Station-based men in white coats. It rose 0.98% on a broker boost .

Elsewhere Dole Food ( DOLE ) fell 5.88% and Netflix ( NFLX ) similarly failed to dodge a banana skin . It nosedived 6.36% as investors were somehow surprised that Arrested Development , a show that was no great ratings shakes first time around, should fare little better in its latest incarnation.

No top-tier economic data due today, but Brown Shoe (BWS), Chico's FAS (CHS), Copart (CPRT), Daktronics (DAKT), Michael Kors (KORS), Movado Group (MOV), Sberbank Russia (OTCMKTS:AKSJF), Tata Motors (TTM), The Fresh Market (TFM), and Tootsie Roll (TR) are all expected to release results.

Analog Devices (ADI): Citing the company's impressive shareholder return policy, Citigroup takes the tech stock to Buy from Neutral.

Athenahealth ( ATHN ): Shares get raised to Strong Buy from Outperform at Raymond James

Delhaize Group (DEG): The Belgian grocery giant gets upgraded to Overweight from Neutral at JPMorgan.

Denbury Resources (DNR): Credit Suisse raises its recommendation to Outperform from Neutral.

EnerNOC (ENOC): The business services outfit, which fell 15.86% on Tuesday, today gets a Strong Buy-from-Outperform upgrade at Raymond James.

Palo Alto Networks (PANW): Pacific Crest takes the tech name to Outperform from Sector Perform.

Peugeot (OTCMKTS:PEUGY): HSBC Securities hoists the French car company to Neutral from Underweight.

Sonus Networks (SONS): The tech name, which surged 7.08% yesterday, is now Buy from Hold at Jefferies. Shares are, accordingly, showing further strength ahead of this morning's opening bell.

(See also: New Stock Coverage: SeaWorld Set to Make a Splash and Stock Downgrades: Javelin Mortgage Is a Falling Knife .)