Analyst upgrades: NOK, FLWS, WDR, WON and CSCO

MOST NOTEWORTHY: Nokia, 1-800-Flowers.com, Wadell & Reed, Westwood One and Cisco Systems were today's noteworthy upgrades:

Morgan Stanley upgraded shares of Nokia Corporation (NYSE: NOK) to Overweight from Underweight, as they expect higher-than-expected volumes and increasing market share to drive outperformance in the second half of 2007.
CIBC upgraded shares of 1-800-Flowers.com (NASDAQ: FLWS) to Sector Outperformer from Sector Performer. CIBC upgraded shares when they transferred coverage on the name.
Wadell & Reed Financial (NYSE: WDR) was upgraded to Outperform from Market Perform from Keefe Bruyette based on strong investment returns.
Westwood One Inc (NYSE: WON) was upgraded to Buy from Hold at Deutsche Bank to reflect a likely new deal with CBS Corporation (NYSE: CBS), feasibility of a sale to private equity and signs of a turnaround in the company's network business.
Cisco Systems Inc (NASDAQ: CSCO) was added to Matrix's Focus List, as the firm believes the company is "perfectly positioned" to profit from the coming growth and demand for network infrastructure...

OTHER UPGRADES:

GOL Linhas Aereas Inteligentes SA (NYSE: GOL) and TAM SA (NYSE: TAM) were upgraded to Neutral from Underweight at JP Morgan.
IAC InterActiveCorp (NASDAQ: IACI) was upgraded to Buy from Neutral at Merrill Lynch.
Merrill also raised shares of Heidrick & Struggles International (NASDAQ: HSII) to Neutral from Sell.
JP Morgan upgraded Sonic Solutions (NASDAQ: SNIC) to Overweight from Neutral.

Tags: 1-800-flowers, analyst, flws, nok, nokia, upgrade

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