Analyst upgrades 6-07-07: Semiconductor sector, DGX and FNM

MOST NOTEWORTHY: The semiconductor sector, Quest Diagnostics (NYSE: DGX) and Federal National Mortgage Association (NYSE: FNM) were today's noteworthy upgrades:

Bernstein upgraded the semiconductor sector to Overweight form Market Weight on expectations that utilization will rise starting in Q2. The firm upgraded ASML Holding NV (NASDAQ: ASML) to Outperform from Market Perform and Infineon Technologies (NYSE: IFX) to Market Perform from Underperform.
UBS upgraded Quest Diagnostics to Buy from Neutral, citing Laboratory Corporation Of America Holdings' (NYSE: LH) contract renewal with Cigna HealthCare, which should ease concerns regarding deteriorating pricing.
Fannie Mae was upgraded to Outperform from Market Perform at Friedman Billings, citing improving fundamentals, better business mix and the possibility the company reports current financials in the next 12-18 months.

OTHER UPGRADES:

Mediacom Communications Corporation (NASDAQ: MCCC) was upgraded to Neutral at Pali Capital, as the firm does not see a major catalyst to drive down shares.
Soleil upgraded shares of ICU Medical Inc (NASDAQ: ICUI) to Buy from Hold.
DynCorp International Inc (NYSE: DCP) was upgraded to Outperformer from Sector Performer at CIBC World Markets.
CIBC also upgraded shares of Radware Limited (NASDAQ: RDWR) to Outperformer from Sector Performer.

Tags: asml, ASML Holding, AsmlHolding, cigna, dcp, dgx, dyncorp, fannie mae, FannieMae, fnm, icu medical, icui, IcuMedical, IFX, infineon, infineon technologies, InfineonTechnologies, laboratory corp of america, LaboratoryCorpOfAmerica, lh, mccc, mediacom, quest diagnostics, QuestDiagnostics, radware, rdwr, semiconductor

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