On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Aviva (AV) upgraded to Outperform from Market Perform at Bernstein... Basic Energy (BAS) upgraded to Buy from Accumulate at Tudor Pickering... BioDelivery Sciences (BDSI) upgraded to Buy from Neutral at Roth Capital... CVS Health (CVS) upgraded at SunTrust... CVS Health (CVS) upgraded to Buy from Neutral at SunTrust... EPR Properties (EPR) upgraded to Hold from Underweight at KeyBanc... Ensco (ESV) upgraded to Accumulate from Hold at Tudor Pickering... First Marblehead (FMD) upgraded to Buy from Neutral at Compass Point... GOL Linhas (GOL) upgraded to Outperform from Neutral at Credit Suisse... Medical Properties Trust (MPW) upgraded to Hold from Underweight at KeyBanc... NVIDIA (NVDA) upgraded to Neutral from Underperform at BofA/Merrill... NewStar Financial (NEWS) upgraded to Buy from Neutral at Sidoti... Orange SA (ORAN) upgraded to Buy from Hold at Deutsche Bank... Parker Drilling (PKD) upgraded to Buy from Accumulate at Tudor Pickering... Potash (POT) upgraded to Buy from Neutral at UBS... Teekay Tankers (TNK) upgraded to Buy from Neutral at BofA/Merrill... Tidewater (TDW) upgraded to Accumulate from Hold at Tudor Pickering... Unum Group (UNM) upgraded to Buy from Neutral at Compass Point... WPP PLC (WPPGY) upgraded to Buy from Neutral at Citigroup... Weatherford (WFT) upgraded to Buy from Hold at Tudor Pickering.
Potash upgraded to Buy from Neutral at UBS UBS upgraded Potash Corporation to Buy saying the company's new Rocanville and Picadilly operations will reduce production costs and improve free cash flow. UBS believes the current dividend yield of around 4% provides downside protection. It raised its price target for Potash shares to $48 from $38. The stock closed yesterday up 2c to $35.27.
Mosaic acquisition of Archer Daniels fertilizer unit to spur growth in Brazil The Mosaic Company (MOS) announced that it has completed the previously announced acquisition of Archer Daniels Midland's (ADM) fertilizer distribution business in Brazil and Paraguay for $350M. The assets purchased include $150M in working capital. The acquisition is expected to significantly accelerate Mosaic's growth plans in Brazil as well as replace a substantial amount of planned internal investment in that country. Mosaic's distribution capacity in the region is expected to increase from approximately four million tonnes per year to 6M tonnes. As a result of the acquisition, Mosaic intends to manage and report a new international distribution segment beginning in the first quarter of 2015.