MOST NOTEWORTHY: UBS AG, Cepheid and ICT Group were today's noteworthy upgrades:
- Credit Suisse upgraded shares of UBS AG (NYSE: UBS) to Outperform from Neutral on valuation, as they believe the current share price implies a negative valuation of the company's securities unit.
- Piper upgraded shares of Cepheid (NASDAQ: CPHD) to Buy from Neutral to reflect the better-than-expected quarter to date GeneXpert placements and management's bullish outlook during their Annual Health Care Conference.
- ICT Group (NASDAQ: ICTG) was upgraded to Market Perform from Underperform at Friedman Billings following the company's reiteration of guidance last night. The firm believes shares are near a floor and that the company could be an attractive takeout candidate once business stabilizes.
OTHER UPGRADES:
- Deutsche Bank upgraded British Airways (OTC: BAIRY) to Buy from Hold.
- Lehman upgraded the packaging sector to Positive from Neutral and upgraded AptarGroup (NYSE: ATR) to Equal Weight from Underweight.
- JP Morgan upgraded Potash Corp. (NYSE: POT) to Overweight from Neutral.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
