MOST NOTEWORTHY:
- Morgan Stanley upgraded The Gap (NYSE: GPS) to Overweight from Underweight with a $23 target. The firm cited an improvement in apparel offerings and traction in merchandising and marketing initiatives.
- The Oil Refining sector was upgraded by the Banc of America this morning, citing the recent sell-off:
OTHER UPGRADES:
- UBS upgraded Reynolds American (NYSE: RAI) on valuation
- Foundry Networks (NASDAQ: FDRY) was upgraded to Outperform from Neutral based on their strong fundamentals in the second half of 2006.
Research provided by TheFlyOnTheWall.com (subscription required).
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
