Analyst upgrades 11-3-06: JDS Uniphase and MGM Mirage upgraded

MOST NOTEWORTHY: JDS Uniphase (JDSU-old, JDSUD), Western Digital (WDC) and MGM Mirage (MGM) top today's list of upgrades.

JDS Uniphase Corp. (NASDAQ:JDSUD) was upgraded to Strong Buy from Buy at Needham. They believe the worst is over for JDSU and see upside to near-term estimates after the company's profitable first-quarter results. JDS Uniphase was also upgraded by Deutsche Bank to Buy from Hold, citing valuation and expectations of improved profitability.
Western Digital Corp. (NYSE:WDC) was upgraded to Outperform from Market Perform at Raymond James following their strong earnings report.
MGM Mirage (NYSE:MGM) was upgraded to Buy from Hold at KeyBank/McDonald based on valuation and fundamentals.

OTHER UPGRADES:

Sina Corp (NASDAQ:SINA) was upgraded to Buy from Hold at Deutsche Bank. The firm cited Sina's strong results and a positive 2007 outlook for the upgrade. Citigroup also upgraded Sina Corp to Buy from Hold.
DA Davidson upgraded Trident Microsystems, Inc. (NASDAQ:TRID) to Buy from Neutral on valuation.
Finally, JP Morgan upgraded Unilever N.V. (NYSE:UN) to Neutral from Underweight. The firm expects positive news flow and possible upside surprises over the next six to nine months driven by margin expansion and cost stabilization.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Tags: jds uniphase, jdsu, jdsud, JdsUniphase, mgm mirage, MgmMirage, sina, trid, trident microsystems, TridentMicrosystems, un, unilever, wdc, western digital, WesternDigital

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