Stocks Upgrades: LSI, CREE, HTHT, HPT, AMSF
Thursday, March 10, 2022 10:43 AM

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Early selling has taken the S&P 500 beneath its 50-day moving average so that it trades within close range of its one-month low.

The Dow Jones Industrial Average sank nearly 200 points after the government reported that new applications for unemployment benefits rose more than expected and the trade deficit jumped.

Upgrades:

Craig-Hallum upgraded LSI Corp (NYSE: LSI) to buy from accumulat citing the divestiture of its external storage business and its announcement of an aggressive stock buyback program. The shares of the company are trading up 0.82 percent at $6.39.

The shares of Cree (Nasdaq: CREE) have been upgraded by CLSA to outperform from underperform based on expectations for increased LED adoption in 2012 and for a rebound in the LED streetlight market in China. CREE is trading at $47.32, up 0.70 percent.

Analysts at Brean Murray upgraded China Lodging Group (Nasdaq: HTHT) to buy from hold. The firm upgraded shares citing valuation, upbeat FY11 guidance, and expectations for FY12 margin expansion. The Company expects to achieve net revenues in the range of RMB410 to 430 million in the first quarter of 2011, representing a 20 percent to 26 percent growth as compared to the first quarter of 2010. For the full year 2011, the Company expects net revenues to grow 34 percent to 38 percent. The stock is trading high 4.51 percent at $18.76.

Hospitality Properties (NYSE: HPT) has been upgraded to outperform from neutral at Baird citing potential asset sales and reworked leases. The firm raised the company’s price target to $26 from $23. HPT is trading up at $23.08, by 1.59 percent.

Wunderlich upgraded Amerisafe (Nasdaq: AMSF) to buy from hold citing improving markets and raised its price target for shares to $25 from $18. The company’s shares are trading up 0.95 percent at $21.72.


 

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Market news:

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                • The plant is 170 miles (270 kilometers) north of Tokyo.
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                    • IWAKI, Japan - Cooling systems failed at another nuclear reactor on Japan's devastated coast Sunday, hours after an explosion at a nearby unit made leaking radiation, or even outright meltdown, the central threat to the country following a catastrophic earthquake and tsunami.
                    • The Japanese government said radiation emanating from the plant appeared to have decreased after Saturday's blast, which produced a cloud of white smoke that obscured the complex.
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