MORNING COFFEE

More European Debt Worries. Economists are increasingly becoming concerned about the economic health of Hungary, Romania, and Serbia.  All three countries have been unable to sell their government debt at auction on several occasions.  The three countries turned to the IMF in 2009 for a bailout and have enacted austerity programs.

Upgrades

Synovus (SNV): Wunderlich raised their rating from Hold to Buy and placed a target price of $3.50 on the company.

NetLogic (NETL): The Benchmark Company raised their rating from Hold to Buy and placed a target price of $35.00 on the company.

Downgrades

Discovery (DISCA): Caris & Company lowered their rating from Above Average to Average.

NiSource (NI): KeyBanc Capital Markets lowered their rating from Buy to Hold.

Coverage Initiated

Waters (WAT): Auriga U.S.A initiated coverage with a Buy rating and target price of $75.00.

Coverage Reiterated/Price Target Changed

Priceline.com (PCLN): Caris & Company reiterated their Buy rating and raised their target price from $300.00 to $348.00.

National Semi (NSM): RBC Capital Markets reiterated their Sector Perform rating and lowered their target price from $17.00 to $15.00.

BP (BP): The Benchmark Company reiterated their Buy rating and raised their target price from $41.00 to $46.00.

·         Futures: Dow -0.5%. S&P -0.6%. Nasdaq -0.4%. Crude -2.25% to $72.92. Gold -0.3% to $1247.50.

·         Asia: Japan -0.8% to 9226. Hong Kong +0.2% to 21402. China +0.1% to 2698. India +0.5% to 18645.

·         Europe: London -0.9%. Paris -1.1%. Frankfurt -0.8%.