Analyst upgrades: LRCX, DT and FTE

MOST NOTEWORTHY: Lam Research, Deutsche Telekom and France Telecom were today's noteworthy upgrades:

Credit Suisse upgraded Lam Research (NASDAQ:LRCX) to Outperform from Neutral citing margin expansion and valuation. Lam was named the firm's top pick in SCE names for 2H08.
JP Morgan upgraded shares of Deutsche Telekom (NYSE:DT) to Overweight from Neutral as they expect a stronger second half of the year for the industry.
France Telecom (NYSE:FTE) was upgraded to Buy from Neutral at Merrill and to Buy from Hold at Societe Generale after the company walked away without bidding for Sweden's TeliaSonera.

OTHER UPGRADES:

UBS upgraded American Express (NYSE:AXP), Capital One (NYSE:COF) and Discover (NYSE:DFS) to Neutral from Sell.
New York Times(NYSE:NYT) was raised to Hold from Sell at Deutsche Bank.
RBC Capital raised Sanmina (NASDAQ:SANM) to Sector Perform from Underperform.
Merrill upgraded Sirius Satellite (NASDAQ:SIRI) to Buy from Neutral.

Tags: analyst upgrades, AnalystUpgrades, AXP, COF, DFS, DT, FTE, inthenews, LRCX, NYT, SANM, SIRI

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