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MOST NOTEWORTHY: Alaska Communications, Royal Bank of Scotland and Frontier Oil were today's noteworthy upgrades:
- Banc of America upgraded shares of Alaska Communications (NASDAQ: ALSK) to Buy from Neutral as they believe the company will return to a dividend growth focus after completing its strategic initiatives.
- Credit Suisse raised Royal Bank of Scotland (NYSE: RBS) to Neutral from Underperform as they believe the company has already taken "prudent" write-downs.
- Bear upgraded Frontier Oil (NYSE: FTO) to Peer Perform from Underperform as they believe the company is better positioned to withstand this period of margin weakness.
OTHER UPGRADES:
- Jefferies upgraded Adobe Systems (NASDAQ: ADBE) to Hold from Underperform.
- RBC Capital lifted Medarex Inc. (NASDAQ: MEDX) to Sector Perform from Underperform.
- United Parcel Service (NYSE: UPS) was upgraded at Merrill to Buy from Neutral.
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