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Fly News Breaks for April 6, 2016
CSCO, PEI, OI, IRWD, CRH
Apr 6, 2016 | 10:22 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. CRH (CRH) upgraded to Overweight at JPMorgan by analyst Elodie Rall, who views the valuation as attractive and sees limited risk to estimates. 2. Ironwood (IRWD) upgraded to Outperform at Cowen citing the company's pipeline and ex-U.S. royalties as well as U.S. co-marketing agreements leaving room for growth. 3. Owens-Illinois (OI) upgraded to Buy at Citi with analyst Anthony Pettinari citing valuation and a low bar set by management for 2016. 4. Pennsylvania REIT (PEI) upgraded to Outperform at Boenning & Scattergood by analyst Floris van Dijkum, who believes Pennsylvania REIT's discounted valuation is unwarranted given significant acceleration in 2018 NOI growth. van Dijkum expects the company to continue to reduce leverage by selling other non-core assets and make development progress on the Fashion Outlets of Philadelphia. 5. Cisco (CSCO) upgraded to Neutral at JPMorgan with analyst Rod Hall saying the company's 3.8% dividend yield is "compelling in the midst of current market volatility." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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