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MOST NOTEWORTHY: CSG Systems, Bankrate and Intercontinental Exchange were today's noteworthy upgrades:
- Citigroup upgraded shares of CSG Systems (NASDAQ: CSGS) following the company's Comcast (NASDAQ: CMCSA) contract renewal to reflect increased visibility and an attractive cash flow yield. The firm raised their target price to $18.50 from $15.
- Roth Capital upgraded Bankrate (NASDAQ: RATE) to Buy from Hold citing valuation, the company's announced stock repurchase program, and expectations for some gross margin expansion in 2H08.
- BMO Capital upgraded Intercontinental Exchange (NYSE: ICE) to Outperform from Market Perform as they believes the threat of negative legislation to ICE's business has declined sharply in recent days and that current valuation is factoring a much worse outcome than is likely.
OTHER UPGRADES:
- Lennar (NYSE: LEN) was upgraded at UBS to Neutral from Sell.
- eHealth (NASDAQ: EHTH) was raised to Perform from Underperform at Oppenheimer.
- Nike (NYSE: NKE) was raised to Positive from Neutral at Susquehanna.
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