Analyst upgrades: PGR, NFLX, PDS, HTZ, FCL and PEG

MOST NOTEWORTHY: Progressive, Netflix and Public Service Enterprise Group were today's noteworthy upgrades:

Wachovia upgraded Progressive (NYSE: PGR) to Market Perform from Underperform based on modest signs of improvement in underwriting trends.
Lehman upgraded Netflix (NASDAQ: NFLX) to Overweight from Equal Weight based on strong core trends and a potential announcement of digital service partners into its May 28 investor day.
Credit Suisse upgraded Public Service Enterprise Group (NYSE: PEG) to Outperform from Neutral based on earnings growth through utility investment, valuation, upside from U.S. CO2 policy.

OTHER UPGRADES:

Precision Drilling (NYSE: PDS) was raised to Outperform from Sector Perform at RBC Capital.
Hertz Global (NYSE: HTZ) was upgraded at Soleil to Buy from Hold.
Calyon upgraded Foundation Coal (NYSE: FCL) and Arch Coal (ACI) to Add from Neutral.

Tags: aci, arch coal, ArchCoal, fcl, foundation coal, FoundationCoal, hertz global, HertzGlobal, htz, netflix, nflx, pds, peg, pgr, precision drilling, PrecisionDrilling, progressive, public service enterprise group, PublicServiceEnterpriseGroup, upgrade

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