MOST NOTEWORTHY: Amazon.com Inc (AMZN) and Microsoft Corp (MSFT) were today's most notable upgrades: - Piper Jaffray upgraded Amazon.com Inc (NASDAQ: AMZN) to Market Perform from Underperform, with a $36 target, to reflect the company's strong revenue growth; however, they still consider up-side limited from here.
- Bank of America upgraded Microsoft Corp (NASDAQ: MSFT) to Buy from Neutral, with a $35 target, as they believe the company's growth outlook is solid and that 2008 consensus could be conservative.
OTHER UPGRADES:
- Following the company's solid Q3 report, Electronic Arts Inc (NASDAQ: ERTS) was upgraded by Deutsche Bank to Hold from Sell, with a $50 target, and to Buy from Hold at Needham, with a $60 target.
- Citigroup upgraded Raytheon Co (NYSE: RTN) to Buy from Neutral, with a $60 target, to reflect the company's above-industry growth and low valuation.
- Wachovia upgraded Dominion Resources Inc (NYSE: D) from Market Perform to Outperform. The firm said their estimates have been too conservative.
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