Sprint Nextel Corp. (NYSE: S): Collins Stewart on Tuesday upgraded its rating on the company to Buy from Neutral. In a research note to clients, the firm stated, "We are upgrading Sprint to Buy from a long standing Neutral during this time of extreme volatility that have caused Sprint shares to under perform the S&P 500 index after outperforming the index for the first half of the year. With fairly low expectations for 2H11 and 2012, with a stock now trading at 4.6x estimated 2012 EBITDA and with the possibility of change in margin trajectory late 2012 and significant improvement in 2013, we find the stock attractive for investors with a longer-term investment horizon." Collins Stewart has a $5 PT on Sprint stock.
VMware, Inc. (NYSE: VMW): Barclays this morning upgraded VMware to Overweight from Equalweight. The firm raised its price target on the stock to $114 from $94.
Aeropostale, Inc. (NYSE: ARO): Jefferies upgraded its rating on the company to Hold from Underperform with a price target of $12.00. In a research note to clients, the firm stated, "Since the beginning of the year, ARO has played out to our thesis with significant top-line and margin erosion YTD. While additional challenges still lie ahead, we think they now are priced into the stock. Additionally, ARO's business model is intact and can perform better once the environment improves. Upgrade to Hold with $12 PT."
Walt Disney Co. (NYSE: DIS): BofA/Merrill Lynch downgraded the company to Neutral from Buy.
Allergan Inc. (NYSE: AGN): Credit Suisse this morning upgraded Allergen to Outperform from Neutral. The firm lifted its price target on the stock to $91 from $81.
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