Notable Upgrades: Bank of America (BAC), Matrix Service Company (MTRX), American Int’l Group (AIG), L-3 Communications (LLL), Yahoo Inc. (YHOO)

Goldman (GS) is out with a report this morning upgrading shares of Bank of America (BAC) with a ‘Buy’ from ‘Neutral’ rating and $19 from $17 price target, implying 17% expected return from the stock’s current price. The firm attributed the upgrade to the resolution of a lot of the bank’s legal issues and the shift of its earnings mix towards higher growth businesses.

BofA shares recently gained 1.62% to $16.28. The stock is up more than 13% year-over-year and has gained roughly 4.30% year-to-date. In the past 52 weeks, shares of the Charlotte, North Carolina-based bank have traded between a low of $13.60 and a high of $18.60.

Bank of America, which closed Friday down 9 cents to $16.02, has a total market cap of $170.78 billion.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Matrix Service Company (MTRX) was upgraded by KeyBanc Capital Markets from an ‘Hold’ rating to a ‘Buy’ rating in a research note issued on Monday. The firm cited the company’s valuation as a reason for the upgrade.

Matrix shares recently rose 19 cents to $24.20. In the past 52 weeks, shares of Tulsa, Oklahoma-based company, which among other things provides engineering and fabrication services primarily to the oil, gas and minerals markets principally in the US and Canada, have traded between a low of $15.93 and a high of $38.71. Shares are up 51.69% year-over-year ; down less than one percent year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Investment analysts at Citigroup (C) initiated coverage on shares of American International Group (AIG) in a note issued to investors on Monday. The firm set a ‘Buy’ rating and a $68.00 price target on the stock citing the insurer’s “substantial” improvements to its balance sheet and profitability. Citigroup’s price target would suggest a potential upside of 23.54% from the stock’s previous close.

AIG shares are currently priced at 9.68x this year’s forecasted earnings, which makes them inexpensive compared to the industry’s 20.20x earnings multiple. Ticker has a t-12 price-to-sales ratio of 1.22. EPS for the same period is $5.74.

In the past 52 weeks, shares of the New York-based firm have traded between a low of $46.80 and a high of $56.37 and are now at $55.58. Shares are up 15.34% year-over-year and 8.85% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Analysts at Oppenheimer upgraded this morning their rating on the shares of L-3 Communications Holdings Inc (LLL) to ‘Outperform’ from ‘Perform’. The target price has been set to $128.00. Oppenheimer said it believes the electronics and aircraft solutions company has been punished excessively following the revelation of accounting misstatements relating primarily to a single contract. L-3 shares recently rose 1.60% to $113.83. Oppenheimer’s target price suggests a potential upside of about 12.50% from the company’s current stock price.

In the past 52 weeks, shares of the New York-based firm have traded between a low of $91.27 and a high of $127.27. Shares are up 24.86% year-over-year and 6.55% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Analysts at Cantor Fitzgerald kept their ‘Buy’ rating on the shares of Yahoo Inc (YHOO). In a research note published on Monday, the firm said that based on Alibaba‘s (BABA) updated F1-filing on Friday, the web portal will receive $8.8 billion in the first tranche of its Alibaba stake.

Yahoo shares are currently priced at 34.18x this year’s forecasted earnings compared to the industry’s 13.19x earnings multiple. Ticker has a PEG and forward P/E ratio of 2.60 and 30.94, respectively. Price/Sales for the same period is 8.52 while EPS is $1.20. Currently there are 4 analysts that rate Yahoo a ‘Strong Buy’, 9 rate it a ‘Buy’ and 13 rate it a ‘Hold’. No analysts rate it a sell. YHOO has a median Wall Street price target of $39.50 with a high target of 47.00.

In the past 52 weeks, shares of the Sunnyvale, California-based company have traded between a low of $28.32 and a high of $41.72 and are now at $40.99. Shares are up 45.47% year-over-year and 1.34% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

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