The Upgrades: Fidelity Nat., Smith Internat. and Pulte (NYSE:FIS,NYSE:SII,NYSE:PHM)

The market goes red, but Fidelity National Information Services (NYSE:FIS) goes green!  FIS is enjoying a nice gap-up day after receiving its upgrade from RBC Capital Markets.  They raised their outlook on the on the company’s stock from Sector Perform to Outperform, but did not provide a price target.  Currently the analyst outlook is a bit mixed as the average recommendation is that of a Moderate Buy.  The stock is currently trading around the mid $23 dollar level, and is up close to +4% on the day.

Smith International, Inc. (NYSE:SII) is experiencing a massive volume day today on news of an upgrade Citigroup.  Citi upgraded the stock from a Hold to a Buy, but did not set a price target.  However, Credit Suisse reiterated their outlook on the stock of Outperform just 2 days ago and their price target is set to $34 dollars.  The stock is currently trading at $27.86 a share and made a significant drop in price yesterday after announcing a new public offering.  The consensus recommendation on the stock is that of a Hold.  Sounds a little sketchy.

Pulte Homes, Inc. (NYSE:PHM) also got a kick start from Citigroup.  Citi upgraded from a Hold to a Buy, notching a price target of $12 for the stock.  The stock is currently trading hands at $10.05 a share, so the price target does not seem all that unreasonable to attain.  PHM started the day with a nice gap open at $9.89, up from the previous day’s close of $9.60.  Consensus recommendation for the stock is a pretty strong Hold as the home builder is projected to lose up to $0.48 a share for the quarter ending in December, and projections are -$1.63/share for the fiscal year.  Upgrade or not, this might be a tough one to put hard earned money behind (unless you are thinking contrarian).

Good luck to investors!

Disclosure: No positions in securities mentioned.