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MOST NOTEWORTHY: PetSmart, Banco de Chile and Xerium Technologies were today's noteworthy upgrades:
- JP Morgan upgraded PetSmart (NASDAQ: PETM) to Overweight from Neutral citing the company's position in a relatively strong category, benefits from food inflation, and margin improvements.
- Deutsche Bank upgraded shares of Banco de Chile (NYSE: BCH) to Buy from Hold as they expect greater earnings power following the acquisition of Citibank Chile.
- Citigroup upgraded Xerium Tech (NYSE: XRM) to Buy from Hold on the success of the company's debt renegotiation. The firm also raised the company's target to $7 from $2.
OTHER UPGRADES:
- Goldman Sachs added State Street (NYSE: STT) and Lorillard (NYSE: LO) to the Conviction Buy List.
- Boyd Gaming (NYSE: BYD) was raised to Neutral from Sell at Banc of America.
- William Blair raised American Superconductor (NASDAQ: AMSC) to Outperform from Market Perform.
- Cameco (NYSE: CCJ) was upgraded to Buy from Neutral at UBS.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
