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MOST NOTEWORTHY: Stryker, General Dynamics and Garmin were today's noteworthy upgrades:
- Baird upgraded shares of Stryker (NYSE: SYK) to Outperform from Neutral as they believe the company's manufacturing problems are more manageable than expected and that supply constraints involving the Trident acetabular cup appear more limited.
- Wachovia raised General Dynamics (NYSE: GD) to Outperform from Market Perform, citing valuation, likely resumption in buybacks, and conservative guidance.
- Oppenheimer upgraded shares of Garmin (NASDAQ: GRMN) to Outperform from Perform on valuation, as they believe sentiment has troughed and that downward revisions are already priced into shares.
OTHER UPGRADES:
- Merrill raised Turkcell (NYSE: TKC) to Buy from Neutral.
- Lehman upgraded HealthSouth (NYSE: HLS) to Overweight from Underweight.
- Bear Stearns upgraded McAfee (NYSE: MFE) to Outperform from Peer Perform.
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