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Fly News Breaks for July 25, 2016
INFN, MDLZ, WFM, ALK, HPE
Jul 25, 2016 | 10:22 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. HP Enterprise (HPE) upgraded to Buy from Neutral at Citi with analyst Jim Suva saying investors are under-appreciating the free cash flow generation and net cash improvement coming in the second half of 2016 and 2017. 2. Alaska Air (ALK) upgraded to Outperform from Neutral at Credit Suisse with analyst Julie Yates citing an attractive relative valuation and improving unit revenue trends. 3. Whole Foods (WFM) upgraded to Outperform from Neutral at Macquarie with analyst Bob Summers saying he believes Whole Foods is well positioned for strong performance driven by a same-store-sales inflection point, expected management comments on the 365 store format that should act as a catalyst, recent industry M&A supports valuation, dramatic share underperformance in 2015, and said the company remains a best-in-class operator with a successful management team. 4. Mondelez (MDLZ) upgraded to Positive from Neutral at Susquehanna with the firm saying it believes the company will either acquire Hershey (HSY) or be acquired by another food and beverage conglomerate some time over the next 12 months. Susquehanna raised its price target to $60 form $46 on Mondelez shares. 5. Infinera (INFN) upgraded to Strong Buy from Buy at Needham with analyst Alex Henderson saying that while the stock has been slammed due to revenue weakness primarily out of Transmode combined with nervousness on the company's ability to drive growth in the Metro market, the analyst believes both concerns are misplaced. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.