Apr 30, 2013 (MarketNewsVideo.com via COMTEX) -- This morning, Deutsche Bank upgraded shares of Best Buy (BBY) from hold to buy as the firm sees a number of positive catalysts that could drive the stock price higher this year. With the upgrade, Deutsche Bank set a $28 price target. Shares of Best Buy were sharply higher on Tuesday, climbing more than 10%.
Bank of America upgraded shares of Synovus Financial (SNV) from neutral to buy as the stock is trading at a 15% discount to tangible book value. Furthermore, the firm sees an exit from TARP likely in the second half of 2013. With the upgrade, Bank of America set a price target of $3 per share. Synovus shares were higher on the news, gaining 1.5%.
And Credit Suisse increased its price target on shares of Chubb (CB) to $96 as margins continue to improve. With the higher price target, Credit Suisse increased its EPS estimates through 2014 and reiterated its outperform rating. Shares of Chubb were flat on Tuesday, trading just below $88 per share.
The preceding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=201304Upgrades043013&mv=1.
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As of Friday, 04-26-2013 23:59, the latest Comtex SmarTrendA? Alert,
an automated pattern recognition system, indicated a DOWNTREND on
04-20-2012 for BAC @ $8.56.
As of Friday, 04-26-2013 23:59, the latest Comtex SmarTrend Alert,
an automated pattern recognition system, indicated a DOWNTREND on
03-29-2012 for BBY @ $24.72.
As of Friday, 04-26-2013 23:59, the latest Comtex SmarTrend Alert,
an automated pattern recognition system, indicated a DOWNTREND on
06-01-2012 for CB @ $70.73.
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