International Paper Co. (NYSE:IP): Following downgrades of their stocks on September 10, Deutsche Bank upgraded four names in the container board space from Hold to Buy. The companies are: International Paper (NYSE:IP), Kapstone Paper (NYSE:KS), Packaging Corp. of America (NYSE:PKG), and Rock-Tenn (NYSE:RKT). This occurred after raising their probability of success estimate on the current container board price hike from 50% to 75%-80%.
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Apple Inc. (NASDAQ:AAPL): Deutsche Bank believes that the demand for the iPhone 5 is very strong, so they increased their estimates by 5 million in 2012 to 10 million in 2013. The firm upped their 2013 earnings estimate for Apple from $56 to $60, while increasing their price target for shares from $775 to $850. Deutsche keeps a Buy rating on the stock.
Research In Motion Limited (NASDAQ:RIMM): Citigroup believes that Research in Motion’s fundamentals continue to get worse and they could run out of cash within two years. A Sell rating is reiterated on the stock with a $5 price target ahead of RIM’s August quarter results on September 27. The firm does not expect RIM to issue guidance given their challenges and lack of visibility.
Blucora (NASDAQ:BCOR): After meeting with management, Benchmark Co. raised their price target for Blucora and reiterate a Buy rating on the stock. The firm believes both the company’s Search and TaxACT businesses are positioned for continued strong growth.
Oracle Corp. (NASDAQ:ORCL): Following the company’s first quarter results, Citigroup raised their price target for Oracle Corp. shares and maintain a Buy rating on the stock. Citi believes the risk/reward remains favorable and that concerns surrounding Oracle’s competitive position are overdone.
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