Analyst upgrades 2-22-07: Whole Foods & Seagate upgraded today

MOST NOTEWORTHY: Seagate Technology (STX), Analog Devices inc (ADI) and Whole Foods Market Inc (WFMI) were some of today's notable upgrades:

AG Edwards upgraded Seagate Technology (NYSE: STX) to Buy from Hold citing improving fundamentals as the company ramps 1.8" drives in the first quarter, with a potential Apple (AAPL) qualification, and market share gains in notebooks.

ThinkEquity upgraded Analog Devices Inc (NYSE: ADI) to Accumulate from Source of Funds, with a target of $38, as they believe the improvement in bookings are sustainable; Citigroup also upgraded Analog Devices, to Buy from Hold, to reflect the company's earnings expectations.

William Blair upgraded Whole Foods Market Inc (NASDAQ: WFMI) to Outperform from Market Perform based on valuation and the benefits of the Wild Oats Markets (NASDAQ: OATS) acquisition; HSBC upgraded shares of Whole Foods to Neutral from Underweight, with a $52 target, and UBS upgraded shares to Buy from Neutral based on the acquisition.

OTHER UPGRADES:

Prudential upgraded Goldcorp inc (NYSE: GG) to Neutral from Underweight citing the increase in gold prices and a potential increase in Penasquito mine reserves.

Stifel upgraded QMed Inc (NASDAQ: QMED) to Buy from Hold on improved revenue visibility.

IHOP Corp (NYSE: IHP) was upgraded at Raymond James to Outperform from Market Perform with a $64 target.

Bernstein upgraded Commerce Bancorp Inc (NYSE: CBH) to Outperform from Market Perform.

Stereotaxis Inc (NASDAQ: STXS) was upgraded to Neutral from Sell at Goldman Sachs following its better-than-expected fourth quarter.

Morgan Stanley upgraded National Semiconductor Corp (NYSE: NSM) to Overweight from Equal Weight citing improving fundamentals and valuation.

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

Tags: adi, analog devices, AnalogDevices, analyst, ddss, gg, goldcorp, ihop, ihp, labopharm, national semi, NationalSemi, nsm, oats, qmed, rating, rating change, RatingChange, seagate, stereotaxis, stx, stxs, theflyonthewall.com, upgrade, wfmi, whole foods, WholeFoods, wild oats, WildOats

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