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Analyst upgrades: Steel Dynamics, Nucor, Nokia, Wachovia

Posted Jul 9th 2008 12:08PM by Eric Buscemi
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Nokia Corp. (NOK), Wachovia Corp (WB), Nucor Corp (NUE)

MOST NOTEWORTHY: Steel Dynamics, Nucor, Nokia and Wachovia were today's noteworthy upgrades:

UBS upgraded Steel Dynamics (NASDAQ: STLD) and Nucor (NYSE: NUE) to Buy from Neutral and added them to their Short-Term Buy list citing oversold valuations and the belief that both will beat Q2 Street estimates and guide higher.
Dresdner Kleinwort upgraded shares of Nokia (NYSE: NOK) to Buy from Add as they believe the company's second half of the year looks strong due to new product launches.
Merrill Lynch upgraded Wachovia (NYSE: WB) to Neutral from Underperform on valuation as they believe credit headwinds are priced into the stock at current levels. Merrill also thinks WB would make a "good fit" for JP Morgan (JPM) and puts a realistic acquisition value on the company of $16-$20 per share.

OTHER UPGRADES:

Verisign (NASDAQ: VRSN) was upgraded at Baird to Outperform from Neutral.
Lehman upgraded Penn Virginia (NYSE: PVG) to Overweight from Equal Weight.
Piper raised SGX Pharmaceuticals (NASDAQ: SGXP) to Neutral from Sell.

Tags: NOK, NUE, PVG, SGXP, STLD, VRSN, WB

Indexes	Change	Price
DJIA	-133.13	12,757.33
NASDAQ	-24.45	2,902.78
S&P 500	-12.28	1,339.67

Last updated: February 10, 2012: 02:21 PM

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