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Stock Upgrades: Plain Sailing for Seagate

By: Minyanville
Posted: 10/2/2013 9:22:00 AM
Referenced Stocks: BWLD;CTG;F;MON;TXI

Dow Industrials (INDEXDJX:.DJI) shrugged off the government shutdown to enter October with a solid increase. Given certain, ahem, incidents in equities that scarred this month in 1929 and 1987 and 1989 and 1997 , let's hold off on the champagne, however. Then again, maybe not. After all, Henry Ford ( F ) famously said "history is bunk" and his car company just rode stellar sales to advance another 1.90%, and on an iconic date in its, well, history . Other good gainers included Buffalo Wild Wings ( BWLD ), which jumped 4.56% after shrugging off an analyst downgrade . It is actually based in Minnesota but Computer Task Group ( CTG ), up 10.77% on a broker boost , really does hail from the upstate New York city. Send some shares to a hometown politician who may be the only sane member of Congress .

No top-tier economic data due today, and even if there were, good luck hearing about it thanks to Uncle Sam's shutdown. Corporate earnings announcements are due to include Monsanto ( MON ), Tesco (OTCMKTS:TSCDY), and Texas Industries ( TXI ).

Allstate (ALL): Keefe Bruyette boosts the insurance outfit, famous for its "good hands" ads, to Outperform from Market Perform. Its price objective, previously $54, increases to $62.

Barclays (BCS): The British bank is hoisted to Buy from Hold by its fellow financial firm Société Générale.

Barrick Gold (ABX): Deutsche Bank raises the commodity company to Buy from Hold.

Everest Re (RE): Barclays increases the reinsurance firm to Overweight from Equal Weight.

Global Payment (GPN): GPN gets upgraded to Buy from Neutral at Janney.

Manpower (MAN): Bank of America-Merrill Lynch moves the stock to Buy from Neutral.

Prudential Plc (PUK): The British company - a separate entity from America's Prudential (PRU) - is added to the European Focus List at Credit Suisse.

Seagate Technology (STX): Pacific Crest takes the recently-surging stock to Outperform from Sector Perform.

Tesoro (TSO): The oil refiner is now Buy from Neutral at Citigroup.

(See also: New Stock Coverage: Abercrombie, Out of Detention, Rejoins the 'Cool Kids ' and Stock Downgrades: Wall Street, Why Did U-Turn On Tesla? )