Micron Technology (NASDAQ: MU): Wells Fargo on Friday upgraded its rating on the company to Outperform from Market Perform. In a research note to clients, the firm stated, "When Micron reported February quarter earnings in March, February quarter revenue and earnings were better than we had modeled. Through the rest of the May quarter, even though memory spot prices fell Micron’s contract price negotiations resulted in higher DRAM and NAND contract prices. Today we are raising our May quarter revenue and earnings estimates for Micron’s May and August quarters. Our FY11 revenue estimate increases to $8.76 billion from $8.51 billion and our EPS estimate increases to $0.29 from $0.21. We are leaving our FY12 estimates unchanged for the moment"
MEMC Electronic Materials (NYSE: WFR): Stifel Nicolaus downgraded its rating on the company to Hold from Buy. The firm also removed its $16 price target on the stock.
American International Group (NYSE: AIG): Bank of America/Merrill Lynch this morning initiated coverage on the stock with a Buy rating.
Oracle Corp. (NASDAQ: ORCL): Credit Suisse on Friday recommended buying shares on recent weakness and reiterates its Outperform rating and $42 price target. The firm expects Oracle to report a good quarter driven by higher deal volume.
SunTrust Banks, Inc. (NYSE: STI): Macquarie lowered its rating on the company to Neutral from Outperform. The firm cut its price target on the stock to $26 from $33.
Full disclosure: None.
