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MOST NOTEWORTHY: Novell, Con-Way and Flamel Technologies were today's noteworthy upgrades:
- Jefferies named Novell (NASDAQ: NOVL) its Tuesday Value Pick and upgraded shares to Buy from Hold based on expectation for revenue stabilization and gradually improving margins throughout 2008. They note the company has $3.64 in cash per share.
- JP Morgan upgraded Con-Way (NYSE: CNW) to Overweight from Neutral, citing strong execution following the company's Q4 report.
- Flamel Tech (NASDAQ: FLML) was raised to Buy from Neutral at Merriman, as they believe low expectations and the company's robust pipeline create upside the potential for upside in 2008.
OTHER UPGRADES:
- Toyota (NYSE: TM) was upgraded to Neutral from Underweight at HSBC.
- UBS upgraded Arris (NASDAQ: ARRS) to Buy from Neutral.
- BNP Paribas raised Siliconware Precision (NASDAQ: SPIL) to Buy from Hold.
