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MOST NOTEWORTHY: UBS AG, Burger King and SAIC, Inc were today's noteworthy upgrades:
- Bear Stearns upgraded shares of UBS (NYSE:UBS) to Outperform from Peer Perform after UBS announced a $10B write-down and replenished capital, as they now believe the subprime issue is broadly behind the company and capital ratios are restored.
- Goldman raised its rating on Burger King (NYSE:BKC) to Buy from Neutral as they expect it to outperform the broader restaurant segment amid the current consumer weakness.
- SAIC, Inc (NYSE:SAI) was upgraded to Buy from Hold at Jefferies following the better-than-expected Q3 results, as they believe the company continues to outperform competitors and that margin expansion should continue.
OTHER UPGRADES:
- eBay (NASDAQ:EBAY) was added to Citigroup's CIR Recommend List.
- Banc of America upgraded Reliant Energy (NYSE:RRI) to Neutral from Sell.
- MasterCard (NYSE:MA) was upgraded to Outperform from Market Perform at Keefe Bruyette.
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