Analyst upgrades: SNP, SVR and ATI

MOST NOTEWORTHY: China Petroleum & Chemical, Syniverse and Allegheny Tech were today's noteworthy upgrades:

Deutsche Bank upgraded China Petroleum & Chemical Corporation (NYSE: SNP) to Buy from Hold on valuation following the recent sell-off.
ThinkEquity upgraded Syniverse Holdings Inc (NYSE: SVR) to Buy from Accumulate citing growth from further price reductions and adoption of new technologies that will drive transaction volumes.
Allegheny Technologies Incorporated (NYSE: ATI) was raised to Buy from Neutral at Goldman.The firm upgraded Allegheny based on valuation, low stainless steel inventories, and nickel price stabilization.

OTHER UPGRADES:

Napster Inc (NASDAQ: NAPS) was upgraded to Outperform from Peer Perform at Bear Stearns.
Goldman raised Raytheon Company (NYSE: RTN) to Neutral from Sell.
Johnson Controls Inc (NYSE: JCI) was upgrade to Buy from Add at Calyon.

Tags: Allegheny Technologies, AlleghenyTechnologies, ATI, China Petroleum and Chemical Corporation, ChinaPetroleumAndChemicalCorporation, JCI, Johnson Controls, JohnsonControls, naps, napster, Raytheon Company, RaytheonCompany, RTN, snp, svr, Syniverse Holdings, SyniverseHoldings

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