Analyst upgrades: LNCR, GTIV, FVE, ARRS and X

MOST NOTEWORTHY: Lincare Holdings, Gentiva Health, Five Star Quality Care, Arris and U.S. Steel Group were today's noteworthy upgrades:

Jefferies upgraded shares of Lincare Holdings (NASDAQ: LNCR) to Buy from Hold on valuation as they now believe the likelihood that Congress could severely cut Medicare oxygen reimbursement this year is priced into shares.
Jefferies also upgraded Gentiva Health (NASDAQ: GTIV) to Buy from Hold on valuation, as they believe the recent sell-off is overdone.
RBC Capital raised Five Star Quality Care (AMEX: FVE) to Outperform from Sector Perform, as they believe the company's Q3 report could be better than expected and that census and outlook are improving.
CIBC upgraded shares of Arris Group (NASDAQ: ARRS) to Sector Outperformer from Sector Performer on valuation as they believe the weakness in the stock is overdone.
Deutsche Bank upgraded shares of U.S. Steel (NYSE: X) to Buy from Hold, as they expect the company to be a major beneficiary of rising raw material costs. Further, Deutsche thinks Lone Star and Stelco will be catalysts for earnings growth in 2008.

OTHER UPGRADES:

VeraSun Energy Corporation (NYSE: VSE) was upgraded to Overweight from Equal Weight at Morgan Stanley.
UST Inc (NYSE: UST) was upgraded to Buy from Neutral at Goldman.
JP Morgan upgraded BASF AG (OTC: BASFY) to Overweight from Neutral.
Avondale Partners upgraded Polaris Industries (NYSE: PII) to Market Outperform from Market Perform.