Notable Upgrades: Rio Tinto (RIO), Adobe Systems (ADBE), Ctrip.com (CTRP), The Clorox Company (CLX), Alkermes plc (ALKS)

Analysts at Morgan Stanley (MS) are out with a report this morning upgrading shares of Rio Tinto plc (RIO) with an ‘Overweight’ from ‘Equal-Weight’ rating.

RIO shares recently gained $2.69 to $38.11. In the past 52 weeks, shares of London-based mining company have traded between a low of $31.97 and a high of $51.62.

Shares are down 18.98% since the beginning of the year.

Analysts at BofA/Merrill (BAC) upgraded their rating on the shares of Ctrip.com International Ltd. (CTRP). In a research note published on Wednesday, the firm lifted the name with a ‘Buy’ from ‘Neutral’ rating and set a 12-month base case estimate at $92/share.

On valuation measures, Ctrip.com International Ltd. ADR shares are currently priced at 14,144.00x this year’s forecasted earnings, compared to the industry’s 25.52x earnings multiple. Ticker has a PEG and forward P/E ratio of 3.72 and 60.69, respectively. Price/Sales for the same period is 6.99 while EPS is $0.01. Currently there are 21 analysts that rate CTRP a ‘Buy’, 3 rate it a ‘Hold’. No analyst rates it a ‘Sell’. CTRP has a median Wall Street price target of $88.50 with a high target of $122.00.

Adobe Systems Incorporated (ADBE) was reiterated a ‘Buy’ by Deutsche Bank (DB) analysts on Wednesday. The broker also raised its price target on the stock to $90 from $85.

Adobe Systems Inc. shares are currently priced at 81.03x this year’s forecasted earnings, which makes them quite expensive compared to the industry’s 15.04x earnings multiple. Ticker has a forward P/E of 24.81 and t-12 price-to-sales ratio of 9.31. EPS for the same period is $0.98.

In the past 52 weeks, shares of San Jose, California-based company have traded between a low of $58.51 and a high of $87.25 and are now at $79.41.

Shares are up 25.83% year-over-year and 17.13% year-to-date.

Shares of The Clorox Company (CLX) are up $0.75 to $119.10 in mid-day trading after Barclays reiterated its ‘Underweight’ rating and increased its target price on the name by 4 points to $105 a share.

Analysts at Barclays reiterated this morning their ‘Overweight’ rating on the shares of Alkermes plc (ALKS) . The firm increased its price target on the name to $79 from $77.

ALKS shares recently gained $1.37 to $59.87. Barclays’ target price suggests a potential upside of about 32% from the company’s current stock price.

In the past 52 weeks, shares of Dublin, Ireland-based biopharmaceutical firm have traded between a low of $38.49 and a high of $75.17. Shares are up 39.58% year-over-year ; down 0.10% year-to-date.

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