Analyst upgrades 9-5-07: BP, BRG, CHKP and VCLK

MOST NOTEWORTHY: The energy & petroleum sector, BP PLC, BG Group, Check Point and ValueClick were today's noteworthy upgrades:

Bernstein upgraded Talisman Energy Inc (NYSE: TLM) to Outperform from Market Perform on valuation and potential exploration success in Vietnam and raised Anadarko Petroleum Corporation (NYSE: APC), Devon Energy Corporation (NYSE: DVN) and EOG Resources Inc (NYSE: EOG) to Market Perform from Underperform on improving gas fundamentals.
Bernstein also upgraded shares of BP PLC (NYSE: BP) and BG Group (NYSE: BRG) to Outperform from Market Perform.
Check Point Software Technologies (NASDAQ: CHKP) was upgraded to Outperform from Market Perform at Friedman Billings, citing checks that indicate a strong product cycle for the company's beefed up VPN/firewall product portfolio.
ValueClick (NASDAQ: VCLK) was upgraded at Citigroup to Buy from Hold on valuation, as they believe the recent correction provides a compelling entry point.

OTHER UPGRADES:

Merrill Lynch upgraded shares of Alcoa Inc (NYSE: AA), Alumina Ltd (NYSE: AWC) and Century Aluminum Company (NASDAQ: CENX) to Buy from Neutral and shares of Southern Copper Corporation (NYSE: PCU) to Neutral from Sell.
JP Morgan upgraded shares of Tempur Pedic International (NYSE: TPX) to Overweight from Neutral.
Infineon Technologies (NYSE: IFX) was upgraded to Outperform from Neutral at Credit Suisse.

Tags: aa, alcoa, anadarko, analyst, apc, bg group, BgGroup, bp, brg, century aluminum, CenturyAluminum, cenx, checkpoint, chkp, devon energy, DevonEnergy, dvn, eog, firm, ifx, infineon, pcu, southern copper, SouthernCopper, talisman, tempur pedic, TempurPedic, tlm, tpx, upgrade, valueclick, vclk

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