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Stock Upgrades: Find Room in Your Portfolio for Extra Space Storage, Inc.

Posted
6/17/2013 9:22:00 AM
By: Minyanville
Referenced Stocks:ATX;BKS;CENX;NWSA;ZLC

In the week pen maker A.T. Cross ( ATX ) surged some 11.62% even as most other equities sank, the writing was clearly on the wall for Wall Street. (It certainly was for the suddenly single owner of News Corp. ( NWSA ), whose newly revamped handwritten logo was said by one graphologist to be "filled with stress." )

Stateside stocks slumped for a third week in four amid a widening worldwide tale of woe. Greece gaped down another 6.8% after an unprecedented demotion to "emerging market" status. A fate that we in America are apparently also about to enjoy .

Zale Corporation ( ZLC ), which bills itself as "America's diamond store since 1924,″ jumped 9.55% with the month of June's matrimonial magic at its midpoint. That poor fellow who inadvertently sold his wife's $23,000 wedding ring in a $10 yard sale had better hope his marriage is stronger than the Murdoch's, however.

And with tear gas in Turkey's Taksim Square, Jay Gatsby similarly started crying after a first edition Great Gatsby failed to bring in the expected amount. Misery clearly loved company, for bookseller Barnes & Noble ( BKS ) was equally maudlin on its earnings-related sell off.

Century Aluminum Co ( CENX ): Morgan Stanley moves the commodity company to Equal-Weight from Underweight.

CIT Group Inc. (CIT): Drexel Hamilton raises the financial firm to Buy from Hold.

Comcast Corporation (CMCSA): Shares get upgraded to Strong Buy from Outperform at Raymond James.

Compagnie Financiere Richemont SA (CFRUY): The luxury goods firm, whose blingy brands include Cartier, is up nicely in Paris this morning following an increase to Overweight from Neutral at HSBC Securities.

Cypress Investments Inc (CYS): Impressed with the company's risk:reward profile, Wunderlich gives it a boost to Buy from Hold and establishes a price objective of $12.

Fidelity Southern Corporation (LION): LION is lifted to Outperform from Market Perform by Keefe Bruyette.

Heartland Payment Systems, Inc. (HPY): Piper Jaffray juices its investment opinion to Overweight from Neutral.

Koninklijke Philips NV (ADR) (PHG): The Dutch electronics giant is trading sharply higher overseas this morning on a Buy-from-Hold hoist at Deutsche Bank.

ProLogis Inc (PLD): The industrial Real Estate Investment Trust is taken to Outperform from Market Perform with Wells Fargo.

Ryman Hospitality Properties, Inc. (REIT) (RHP): JPMorgan moves the Real Estate Investment Trust to Overweight from Neutral.

Spectra Energy Partners, LP (SEP): The limited partnership gets lifted to Outperform from Market Perform at Raymond James.

Storage Stocks : Extra Space Storage, Inc. (EXR) is upgraded to Strong Buy from Outperform at Raymond James, which raises
Public Storage (PSA) to Outperform from Market Perform.

TIBCO Software Inc. (TIBX): Wells Fargo takes the tech stock to Outperform from Market Perform.

(See also: New Stock Coverage: Tesla Motors Inc Is in The Driver's Seat and Stock Downgrades: Red Hat Inc Goes Cap in Hand .)