MORNING COFFEE

U.S. Stock Futures Point Higher.  U.S. markets are set to open higher as traders digest news from the EU Central Bank and Apple.  The European Central Bank is considering a plan to set yield-band targets in a new bond-buying program that could help contain EU countries borrowing costs. Traders are also looking at the meeting to be held on Friday in Jackson Hole were central bankers and the Federal Reserve are scheduled to meet.  The market will be looking for news that they will do something to stimulate a slowing global economy.  For the U.S. economy, Wall Street is looking for the Fed to announce a new round of quantitative easing, or QE3.

Apple (AAPL) shares are also higher on news that the company won the patent lawsuit against Samsung. Pre-market: 679.10 +15.88 (2.39%)

Upgrades

Weyerhaeuser Co. (WY): BMO Capital raised their rating from Underperform to Market Perform and placed a target price of $26.50 on the company. Pre-market: 24.70 +0.33 (1.35%)

TreeHouse Foods (THS): Citigroup raised their rating from Neutral to Buy and raised their target price from $56.00 to $61.00. Pre-market: 51.99 +0.75 (1.46%)

Downgrades

Autodesk (ADSK): Argus lowered their rating from Buy to Hold. Pre-market: 30.51 +0.38 (1.26%)

Public Storage (PEG): FBR Capital lowered their rating from Market Perform to Underperform and placed a target price of $30.00 on the company.

Coverage Initiated

Mosaic (MOS): Topeka initiated coverage with a Hold rating.

Allergan (AGN): William Blair initiated coverage with an Outperform rating.

Angie’s List (ANGI): Barrington Research initiated coverage with a Market Perform rating. Pre-market: 9.53 -0.16 (-1.65%)

Coverage Reiterated/Price Target Changed

Apple (AAPL): Oppenheimer reiterated their Outperform rating and raised their target price from $680.00 to $800.00. Pre-market: 679.10 +15.88 (2.39%)

Intel (INTC): Sterne Agee reiterated their Neutral rating and lowered their target price from $25.00 to $24.00. Pre-market: 24.91 0.00 (0.00%)

Markets: 
Futures at 8:13: Dow +0.21%. S&P +0.25%. Nasdaq +0.68%. Crude +0.83% to $96.95. Gold -0.02% at $1672.50.

Europe: London closed. Paris +0.46%. Frankfurt +0.82%. 

Asia: Japan +0.16%. Hong Kong -0.41%. China -1.74%. India -0.59%.