Analyst upgrades: ACAD, GNSS and STM

Posted Dec 12th 2007 11:29AM by Eric Buscemi
Filed under: Analyst Upgrades and Downgrades

MOST NOTEWORTHY: Acadia Pharmaceuticals, Genesis Microchip and SAFECO Corp were today's noteworthy upgrades:

JMP Securities upgraded Acadia Pharmaceuticals (NASDAQ: ACAD) to Strong Buy from Market Outperform, citing increased confidence in the company's pimavanserin for combination treatment of schizophrenia.
Genesis Microchip (NASDAQ: GNSS) was upgraded to Hold from Underperform at Jefferies to reflect the acquisition by STMicroelectronics (NYSE: STM). The firm does not expect additional competitive offers.
SAFECO (NYSE: SAF) was upgraded to Market Perform from Underperform at Friedman Billings based on improved outlook and valuation.

OTHER UPGRADES:

Morgan Stanley upgraded Continental Airlines (NYSE: CAL) and Southwest Airlines (NYSE: LUV) to Overweight from Equal Weight.
Bear Stearns raised its rating on Cincinnati Bell (NYSE: CBB) to Peer Perform from Outperform.

Tags: ACAD, CAL, CBB, GNSS, LUV, SAF, STM, upgrades