Analyst upgrades: LLNW, DBD and CTHR

MOST NOTEWORTHY: Limelight Networks, Diebold and Charles & Colvard were today's noteworthy upgrades:

• Jefferies upgraded shares of Limelight Networks (NASDAQ: LLNW) to Hold from Underperform on valuation and believes it impossible to know what will happen to the company from here. On the downside, Jefferies notes a permanent injunction means the business is nearly worthless, but on the upside, is the possibility of sale to Akamai (NASDAQ: AKAM) or a large telecomm service provider.
• Baird raised Diebold (NYSE: DBD) to Outperform from Neutral citing expectations of a higher bid from United Technologies (NYSE: UTX).
• Merriman upgraded shares of Charles & Colvard (NASDAQ: CTHR) to Buy from Neutral on valuation, as they believe the current share price does not account for the potential wholesale value of the company's manufactured inventory and method patent. They believe Charles & Colvard is a potential acquisition target.

OTHER UPGRADES:

• Goldman raised Eaton (NYSE: ETN) to Conviction Buy from Neutral and added Royal Caribbean (NYSE: RCL) to its Conviction Buy List.