Analyst upgrades 6-06-07: MCO, NGS; BAS and CPX

MOST NOTEWORTHY: Oil and gas services companies, mining companies and Moody's Corporation (NYSE: MCO) were today's noteworthy upgrades:

Morgan Keegan upgraded Natural Gas Services Group Inc (AMEX: NGS), Basic Energy Services Inc (NYSE: BAS) and Complete Production Services Inc (NYSE: CPX) to Outperform from Market Perform and Patterson-UTI Energy Inc (NASDAQ: PTEN) to Market Perform from Underperform, as the firm has a bullish outlook for drilling activity in the back half of 2007 and into 2008.
JP Morgan upgraded shares of both Compania de Minas Buenaventu (NYSE: BVN) and Goldcorp Inc (NYSE: GG) to Overweight from Neutral on valuation.
Moody's was upgraded to Overweight from Equal Weight at Morgan Stanley, citing increased confidence in revenue outlook and growth drivers.

OTHER UPGRADES:

Inverness Medical Innovations Inc (AMEX: IMA) was upgraded to Buy from Hold at Stifel Nicolaus.
Credit Suisse upgraded shares of Johnson Controls Inc (NYSE: JCI) to Outperform from Neutral, citing growth outlook in the company's building efficiency business.
Allianz SE (NYSE: AZ) was upgraded to Buy from Add at WestLB on valuation and the company's strong Q1 results.

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