MOST NOTEWORTHY: Global Payments Inc. (GPN) and Medicis Pharmaceutical Corporation (MRX) top today's modest list of upgrades. J.P. Morgan upgraded Global Payments to Overweight from Neutral citing concerns over margins being overdone and the possibility guidance could be conservative. Medicis Pharma was upgraded by Credit Suisse to Outperform from Underperform based on increased expectations for Solodyn and increased confidence in Restylane growth.
OTHER UPGRADES: Red Hat Inc. (RHAT) was upgraded to Buy from Hold at Rochdale. And finally, the Banc of America upgraded Agrium (AGU) to Neutral from Sell, citing improved margins and volumes in nitrogen for the change.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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