© Reuters. Today’s Most Important Upgrades
By Davit Kirakosyan
Box Inc (NYSE:) shares surged more than 9% intra-day today after Morgan Stanley upgraded the company to Overweight from Equalweight and raised its price target to $34.00 from $32.00. The analysts mentioned several factors behind the upgrade, including (1) solid relative macro positioning with compelling ROI and value in Box Suites, (2) strong execution, (3) a more favorable competitive landscape, and (4) upside to margin expansion.
RBC Capital upgraded CF Industries (NYSE:) to Outperform from Sector Perform and raised its price target to $135.00 from $110.00, noting they believe the company should benefit from a favorable nitrogen market outlook and attractive energy spreads between the U.S. and international markets that may persist long-term. Shares gained more than 4% intra-day today.
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