Notable Upgrades: AbbVie (ABBV), BP p.l.c. (BP), Rackspace Hosting (RAX), Wendy’s (WEN)

Analysts at Morgan Stanley (MS) are out with a report this morning upgrading shares of AbbVie Inc. (ABBV) with an ‘Overweight’ from ‘Equal-Weight’ rating. The name was also added to ‘Conviction Buy List’ at Goldman Sachs (GS).

On valuation measures, AbbVie Inc. shares are currently priced at 36.49x this year’s forecasted earnings. Ticker has a forward P/E of 12.72 and t-12 price-to-sales ratio of 4.50. EPS for the same period is $1.73.

In the past 52 weeks, shares of North Chicago, Illinois-based developer of pharmaceutical products have traded between a low of $45.45 and a high of $71.60 and are now at $63.01.

Shares are up 0.53% year-over-year ; down 6.01% year-to-date.

Analysts at Morgan Stanley (MS) upgraded their rating on the shares of BP p.l.c. (BP) to ‘Equal-Weight’ from ‘Underweight’.

On valuation measures, BP PLC ADR shares have a PEG and forward P/E ratio of 1.97 and 16.17, respectively. Price/Sales for the same period is 0.45 while EPS is ($2.49). Currently there are 11 analysts that rate BP a ‘Buy’, 19 rate it a ‘Hold’. 2 analysts rate it a ‘Sell’. BP has a median Wall Street price target of $38.13 with a high target of $55.12.

Rackspace Hosting, Inc. (RAX) was raised to ‘Buy’ from ‘Neutral’ at BofA/Merrill (BAC) on Monday.

RAX is up $1.88 at $27.73 on heavy volume. Midway through trading Monday, 2.37 million shares of Rackspace Hosting Inc. have exchanged hands as compared to its average daily volume of 2.10 million shares. The stock has ranged in a price between $25.85 to $28.29 after having opened the day at $26.53.

Over the past year, shares of San Antonio, Texas-based company have traded between a low of $23.65 and a high of $56.20.

Shares are down 44.78% since the beginning of the year.

The Wendy’s Company (WEN) was upgraded to ‘Outperform’ from ‘Sector Perform’ by RBC Capital Markets analysts on Monday. The broker however, lowered its price target on the stock to $11 from $12.

WEN is currently printing a higher than average trading volume with the issue trading 4.39 million shares, compared to the average volume of 3.20 million. The stock began trading this morning at $9.47 to currently trade 4.20% higher from the prior days close of $9.16. On an intraday basis it has gotten as low as $9.27 and as high as $9.70.

WEN shares have advanced 7.26% in the last 4 weeks while declining 10.45% in the past three months. Over the past 5 trading sessions the stock has gained 3.50%. The Dublin, Ohio-based company, currently valued at $2.60 billion, has a median Wall Street price target of $11.33 with a high target of $14.50.

Wendy’s Co. is up 16.90% year-over-year, compared with a 3.05% gain in the S&P 500.

Be the first to comment

Leave a Reply

Your email address will not be published.


*