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Calls Of The Day – Monday January 11th

Monday, 11 Jan 2010 | 5:44 PM ET

Can’t make heads or tails of all the analyst action? Whether upgrades or downgrades – here what the traders are talking about!

Oil Services

Jefferies analyst Douglas Mavrinac upgraded several stocks in the sector to 'Buy' saying that as the economy improves, business for oil tankers should surge.

"We believe the crude oil tanker market is potentially set up for a very strong multiyear cyclical upturn," he said as he upgraded most spot-market exposed crude oil tanker companies to 'Buy.'

Stock: Frontline (FRO)
Call: Upgraded to 'Buy'
Firm: Jefferies
Why: Tanker rate improvement

Stock: Nordic American Tanker (NAT)
Call: Upgraded to 'Buy'
Firm: Jefferies
Why: Tanker Rate Improvement

Stock: Overseas Shipholding (OSG)
Call: Upgraded to 'Buy'
Firm: Jefferies
Why: Tanker Rate Improvement

Calls of the Day
A look at the stocks the Street is loving.

It's worth noting that most of the tankers have made pretty significant moves already, counsels Pete Najarian.

As long as contango is in the market there should be demand for shippers, says Joe Terranova. Investors will want to store oil. That's bullish for these stocks.

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Corning

Analysts at both Goldman Sachs and Deutsche Bank upgraded Corning on Monday predicting stronger demand for televisions and personal computers. Deutche’s price target is $24 while Goldman’s is $23.

Stock: Corning (GLW)
Call: Upgraded to 'Buy'
Firm: Deutsche Bank
Why: Solar Opportunities

Stock: Corning (GLW)
Call: Upgraded to 'Buy'
Firm: Goldman Sachs
Why: LCD Cycle Bottomed

I like the name and valuations are fair, says Guy Adami. Even though the stock has run I think it's still got room.

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Energy Stocks

The energy sector got a boost on Monday after Citigroup’s energy analyst Faisel Khan upgraded his long term view on oil prices from $64 to $80.

Stock: BP (BP)
Call: Upgraded to 'Buy'
Firm: Citi
Why: Long-term oil price increase

Stock: Chevron (CVX)
Call: Upgraded to 'Buy'
Firm: Citi
Why: Long-term oil price increase

Stock: Petrobras (PBR)
Call: Upgraded to 'Buy'
Firm: Citi
Why: Long-term oil price increase

I’m a seller of oil futures , says Joe Terranova. The news out of China on Monday should have been bullish for energy and yet action in oil was terrible.

If you want to be aggressive, adds Guy Adami, I think you can play crude oil short.

However, I’m long Frontier Oil as a long-term refiner trade, adds Terranova.

I’m a buyer of integrated names including those mentioned above, says Pete Najarian.

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Procter & Gamble

BMO cut Procter & Gamble from outperform to market perform after Venezuela announced a steep devaluation of its currency. P&G has big exposure to that market.

Stock: Procter & Gamble (PG)
Call: Downgraded to 'Market Perform'
Firm: BMO Capital Mrkts
Why: Devaluing of Bolivar


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Trader disclosure: On January 11th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (TM), (TTM), (AAPL), (BAC), (F), (INTC), (TSL); Najarian Owns (BP), Is Short (BP) Calls; Najarian Owns (CELG); Najarian Owns (FCX), Is Short (FCX) Calls; Najarian Owns (LDK); Najarian Owns (MS); Najarian Owns (PCX); Najarian Owns (PFE); Najarian Owns (SOLF) Call Spread; Najarian Owns (TEVA); Najarian Owns (TTWO) Call Spread; Terranova Is Short (AA) Jan. Put Spread, Is Long (AA) Feb. Put Spreads; Terranova Is Long Copper Backwardation Futures: Long May 2010, Short July 2010; Terranova Is Short Feb. Crude Oil Futures; Terranova Owns March British Pound Futures; Terranova Owns (XHB) March Puts; Terranova Owns (QCOM), (MSFT), (EMC), (FTO), (XOM), (BAC); Terranova Is Short (CMA), (JCI), (CAL), (ESS), (ICE), (SHLD)

GE Is The Parent Company Of CNBC

For Tim Seymour
Seygem Asset Management Is Short (PBR)
Seygem Asset Management Owns (CZZ)

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (UA)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (SKT)

For Dennis Gartman
Funds Managed By Dennis Gartman Own Copper Futures
Funds Managed By Dennis Gartman Own (FCX)

For Mike Khouw
Cantor Fitzgerald & Co. Is A Market Maker In (JPM)
Cantor Fitzgerald & Co. Is A Market Maker In (USB)
Cantor Fitzgerald & Co. Is A Market Maker In (PNC)



CNBC.com with wires

  Price   Change %Change
BP.
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CVX
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FRO
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GLW
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Naturally Advanced Technologies
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OSGIQ
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PETR'
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PG
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  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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