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Fly News Breaks for February 6, 2020
MU, GD, VMW, CMI, PAA, PAGP
Feb 6, 2020 | 10:08 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Micron (MU) upgraded to Strong Buy from Market Perform at Raymond James with analyst Chris Caso saying his firm's analysis of conditions looking forward concludes that supply/demand conditions are highly likely to improve further as the year progresses. 2. General Dynamics (GD) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying General Dynamics has been a "value trap," but with a free cash inflection "upon us," the stock's potential to return 17% of the current market capitalization over the next three years stacks up well versus peers. 3. VMware (VMW) upgraded to Outperform from Market Perform at Bernstein with analyst Mark Moerdler saying he increased his revenue and earnings expectations above consensus after breaking down each of the company's businesses and growth potential. 4. Cummins (CMI) upgraded to Neutral from Sell at UBS with analyst Steven Fisher saying with a 7% year-to-date decline in the stock price, its risk/reward is now "more closely balanced. 5. Plains All American (PAA) and Plains GP Holdings (PAGP) were upgraded to Buy from Neutral at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.