Analyst upgrades 7-05-07: DSW, ERIC and MGA

MOST NOTEWORTHY: Turkcell (TKC), Lloyds TSB Group (LYG), DSW Inc (DSW) and the European telecom sector were today's most noteworthy upgrades:

JP Morgan upgraded shares of Turkcell (NYSE: TKC) to Overweight from Neutral following a meeting with management, as they are more comfortable with the company's growth prospects.

Citigroup upgraded Lloyds TSB Group (NYSE: LYG) Group to Buy from Hold as they believe the company's free cash flow generation will drive faster dividend growth.

Matrix finds DSW Inc (NYSE: DSW) shares fairly valued at current levels and believes improving pricing is leading to higher profit margins and upgraded shares to Hold from Sell.

Credit Suisse upgraded the European Telecom sector to Overweight from Market Weight to reflect higher forecasts for mobile growth...

OTHER UPGRADES:

Lehman upgraded Internet Initiative Japan Inc (NASDAQ: IIJI) to Overweight from Equal Weight.

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

Tags: analyst, dsw, eric, ericsson, european telecom, EuropeanTelecom, iiji, internet initiative, InternetInitiative, lloyd, lyg, magna, mga, rating, theflyonthewall.com, tkc, turkcell, upgrade

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