5 Analyst Upgrades – $CVX $BBY $LPNT $HON $STJ

Analysts constantly review the market and the individual stocks in it to make estimates about performance. Much like a bookie that sets odds for betting, an analyst looks at the numbers and makes calls. Like a betting spread, analysts have rating systems for stocks, so instead of chances being one in three that a stock “wins” it is buy or sell. Upgrading, or downgrading, a stock only comes after careful research.

This week, analysts upgraded the following stocks:

Chevron Corp (CVX) is a energy stock with a $211.95B market cap. It has a P/E ratio of 7.88. and recently traded at $108.86, near its 52-week high of $110.01. Analysts at Oppenheimer raised estimates on the company through 2012 after the company leveraged to higher energy prices. CVX now has an outperform rating. The stock is a favorite pick for Phill Gross and Robert Atchinson’s Adage Capital Management.

Best Buy Co (BBY) is a retail stock with a $9.89B market cap. It is trading at 9.32 times its earnings. BBY recently traded at $26.84 a share, up from a 52-week low of $21.79. Analysts at UBS raised BBY estimates and target. Its shares are not expected to reach $28 a share. Estimates on BBY performance also increased on accretion from CPW transactions. David Einhorn’s Greenlight Capital ad 4.62% in BBY at the end of the second quarter.

LifePoint Hospitals Inc (LPNT) is a health services company with a $1.87B market cap. It has a 12.32 P/E ratio and recently traded at $39.32 a share, near its 52-week high of $43.45. Morgan Stanley analysts boosted the company’s estimates through 2013. LPNT s now buying back stock and has an equal-weight rating. David Dreman’s Dreman Value Management is a fan of LPNT.

Honeywell International (HON) is an aerospace/defense company with a $40.57B market cap. It is trading at 12.66 times its earnings. It recently traded at $54.65. HON has a 52-week high of $62.28. Analysts at Citigroup upgraded HON from neutral to buy, and gave it a $65 price target citing solid 2012 growth outlook with late cycle exposure and a lean cost base. HON is a favorite pick for Ken Fisher’s Fisher Asset Management.

St. Jude Medical Inc (STJ) is a health services company with a $12.92B market cap. It has a 13.22 P/E ratio and is currently trading at $39.25, up from a 52-week low of $33.54. Credit Suisse upgraded STJ from neutral to outperform, giving the stock a $48 a share target, explaining that the company is a market leader and has limited risks with Durata. Andreas Halvorsen had 1.3% of his Viking Global portfolio in STJ at the end of the second quarter.