On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Celgene (CELG) upgraded to Buy from Neutral at UBS... CF Industries (CF) upgraded to Neutral from Sell at Goldman... Kohlís (KSS) upgraded to Buy from Neutral at BofA/Merrill... Spirit AeroSystems (SPR) upgraded to buy from Hold at Canaccord... Tiffany (TIF) upgraded to Conviction Buy from Neutral at Goldman... Union Pacific (UNP) upgraded to Strong Buy from Outperform at Raymond James... CVR Energy (CVI) upgraded to Neutral from Underperform at Macquarie... Alon USA Energy (ALJ) upgraded to Neutral from Underperform at Macquarie... Valero Energy (VLO) upgraded to Outperform from Neutral at Macquarie... Marathon Petroleum (MPC) upgraded to Outperform from Neutral at Macquarie... Smith & Wesson (SWHC) upgraded to Buy from Hold at Lake Street... Open Text (OTEX) upgraded to Neutral from Negative at Susquehanna... Sprint (S) upgraded to Buy from Neutral at Nomura... Halcon Resources (HK) upgraded at Morgan Stanley.
Deere rises, levels to watch The shares spiked higher in the early going after announcing it would expand its buyback plan by $8 billion. After the initial spike shares traded down, finding support near $84.60 before bouncing. At the current price of $85.46, resistance is at $86.10. That would put shares close to the middle of the year-to-date trading range.
Deere should be sold into today's rally, says Wells Fargo Wells Fargo recommends selling shares of Deere into today's rally and reiterates an Underperform rating on the stock. Wells expects Deere's buyback authorization will take some time to deploy and continues to believe the company's earnings power will be hindered by cyclical forces beginning in the second half of 2014.