Analyst upgrades: WMT, MGA, DISH, WSTL and SIRF

Posted Sep 27th 2007 10:52AM by Eric Buscemi
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Wal-Mart (WMT), Campbell Soup (CPB)

MOST NOTEWORTHY: Wal-Mart Stores, Magna International, EchoStar Communications, Westell Technologies and SiRF Technology were today's noteworthy upgrades:

Rochdale upgraded shares of Wal-Mart Stores (NYSE: WMT) to Buy from Hold citing improved outlook for margins and ROIC.
CIBC World Markets resumed coverage and upgraded shares of Magna International (NYSE: MGA) to Sector Outperformer from Sector Performer as they believe higher multiples are warranted due to the company's improving earnings power and cash flow generation.
Oppenheimer upgraded shares of EchoStar Communications (NASDAQ: DISH) to Buy from Neutral as they believe recent events add $4-$6 per share to their valuation analysis.
Westell Technologies (NASDAQ: WSTL) was upgraded to Outperform from Neutral at Baird. The firm believes Westell is taking the right steps to improve its market position and financial performance.
Credit Suisse upgraded SiRF Technology Holdings (NASDAQ: SIRF) to Outperform from Neutral, expecting the stock to benefit from a strong holiday season at electronic retailers.

OTHER UPGRADES:

Goldman upgraded Campbell Soup Company (NYSE: CPB) to Neutral from Sell and Emerson Electric (NYSE: EMR) to Buy from Neutral.
Keefe Bruyette upgraded Oriental Financial Group (NYSE: OFG) to Outperform from Market Perform.
Prudential plc (NYSE: PUK) was raised to Outperform from Peer Perform.
Wachovia upgraded Kindred Healthcare Inc (NYSE: KND) to Market Perform from Underperform.