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Analyst upgrades: GM, AYI, PPS, MAN and IMAX

MOST NOTEWORTHY: General Motors, Acuity Brands, Post Properties, Manpower and IMAX Corp were today's noteworthy upgrades:
  • UBS upgraded General Motors (NYSE: GM) to Buy from Sell citing a potential $3B in cost savings from the "transformational contract" with the UAW.
  • Acuity Brands (NYSE: AYI) was upgraded to Outperform from Neutral at Baird based on valuation and management's ability to execute.
  • Post Properties (NYSE: PPS) was raised to Neutral from Sell at Merrill Lynch following its Q3 report and guidance.
  • Citigroup upgraded shares of Manpower (NYSE: MAN) to Buy from Hold as they like the company's business model and balance sheet.
  • Soleil upgraded shares of IMAX Corporation (NASDAQ: IMAX) to Buy from hold with digital IMAX set to launch in Q208, to reflect the attractive economics of the company's new joint venture model.
OTHER UPGRADES:
  • Verizon Communications (NYSE: VZ) was upgraded to Market Perform from Underperform at Raymond James.
  • JMP Securities upgraded Actuate Corporation (NASDAQ: ACTU) to Outperform from Market Perform.
  • Citigroup upgraded FormFactor (FORM) to Buy from Hold and added shares to their Global Tech Conviction List.
  • CIBC upgraded Northgate Minerals Corporation (NYSE: NXG) to Sector Performer from Sector Underperformer.

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Last updated: December 02, 2008: 01:57 PM

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