Top Upgrades/Downgrades and Stocks To Watch (March 22)

Stock Offerings

American Capital Agency Corp. (AGNC) (Long single tier pre 8 am mkt at 27.97)
Priced a 28 mln share common stock offering for total estimated gross proceeds of approximately $780 mln (which equates to roughly $27.86/share).

James River Coal Company (JRCC) (Long single tier pre mkt at 22.15)
Announced a 6 mln share common stock offering pursuant to its effective shelf registration statement; announces concurrent offering of $125 mln of convertible sr notes.

Upgrades Downgrades

Humana Inc. (HUM)
Upgraded to Neutral from Sell at Goldman (Goldman upgraded Humana citing an improved view of Medicare Advantage.) Price target raised to $69 from $65.

Netflix Inc.(NFLX)
Up 3.81% to $220.94 in pre-market trading after the company is reportedly upgraded to Outperform from Neutral at Credit Suisse. The firm raised price target to $280 from $180.

CSX Corporation (CSX)
upgraded to Overweight from Equal Weight at Barclays Price target raised to $94 from $82.

Nordstrom, Inc. (JWN)
Upgraded to Buy from Neutral at Goldman (Stock Price: 42.30)

VMware, Inc. (VMW)
upgraded to Buy from Neutral at BofA/Merrill

Noble Corporation (NE)
Upgraded to Outperform from Market Perform at BMO Capital

Yahoo! Inc. (YHOO)
price target raised to $18 from $16 at Benchmark Co.

Zions Bancorporation (ZION)
upgraded at Credit Suisse Price target raised to $32 from $26.

Sprint Nextel Corporation (S)
upgraded to Strong Buy from Outperform at Raymond James – tgt $6 (Stock Price: 4.36)

Towerstream Corporation (TWER)
Morgan Joseph Downgraded to SELL (from Hold) Price Target: 3

OpenTable Inc (OPEN)
price target raised to $104 form $95 at Morgan Keegan

(Tim’s Highlights are in bold & bold italics).

By: Timothy Kelleher

Disclosure: Long JRCC

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