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MOST NOTEWORTHY: PetSmart, Marsh & McLennan and Pinnacle Airlines were today's noteworthy upgrades:
- Banc of America upgraded PetSmart (NASDAQ:PETM) to Buy from Neutral on valuation, as they believe the market is overly negative on the company's cyclicality.
- Keefe Bruyette upgraded shares of Marsh & McLennan (NYSE:MMC) to Outperform from Market Perform on increased confidence management will be able to improve margins.
- JP Morgan upgraded Pinnacle Airlines (NASDAQ:PNCL) to Overweight from Underweight citing the company's FCF and contract certainty.
OTHER UPGRADES:
- Hasbro (NYSE:HAS) was upgraded to Buy from Hold at Needham.
- Calyon raised Airtran Holdings (AAI) to Add from Neutral.
- Liberty Entertainment (LMDIA) was raised at Merrill to Buy from Neutral.
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