Possible Bounce Plays: PetroBras, RIMM, GE, Boeing, Rockwell Automation
by: Notable Calls posted on: June 27, 2008
Very little to report today. I generally feel the market is due for a bounce here. I see some hot shot market commentators throwing in the towel this AM, which leads me to believe we are pretty close to a bottom.
- PetroBras (NYSE: PBR) is getting positive comments from Deutsche Bank this morning with the firm upping their target to $95. The stock is also being added to Morgan Stanley's Model Portfolio. Worth a look.
- Research in Motion (NASDAQ: RIMM) is trading down again, now hovering just below the $120 level in pre-market trading. CSFB initiated a call on RIMM last night (Underperform; 100 target). I hear it's a boring 66-page read. RIMM now looks like a solid bounce play here.
- I also like General Electric (NYSE: GE), Boeing (NYSE: BA) and Rockwell Automation (NYSE: ROK) here as bounce plays. The last one has been absolutely destroyed on a rather expected profit warning. I feel we may get some valuation-based upgrades soon.
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