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MOST NOTEWORTHY: S1 Corp, CME Group and Elizabeth Arden were today's noteworthy upgrades:
- Stephens upgraded shares of S1 Corp (NASDAQ: SONE) to Overweight from Equal Weight after meeting with management to reflect their increased confidence in the company's ability to execute. The firm maintains a $9 target on the stock.
- Citigroup upgraded shares of CME Group (NYSE: CME) to Buy from Hold as they find the risk/reward attractive with volumes picking up and consensus estimates at more rational levels. The firm maintains a $485 target.
- Oppenheimer raised Elizabeth Arden (NASDAQ: RDEN) to Outperform from Perform on valuation, as they believe the current share price does not adequately reflect potential earnings accretion from the company's licensing agreement with Liz Claiborne (NYSE: LIZ) or restructuring savings.
OTHER UPGRADES:
- Double Hull Tankers (NYSE: DHT) was raised to Neutral from Underweight at JP Morgan.
- Hovnanian (NYSE: HOV) was upgraded at UBS to Neutral from UBS.
- BMO Capital upgraded Xyratex (NASDAQ: XRTX) to Outperform from Market Perform.
