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MOST NOTEWORTHY: UAL Corp, WPP Group, Aventine Renewable and VeraSun Energy were today's noteworthy upgrades:
- JP Morgan upgraded UAL Corp (NASDAQ: UAUA) to Overweight from Neutral based on valuation and expectations for the company to make a capital announcement on next week's conference call.
- Citigroup upgraded shares of WPP Group (NASDAQ: WPPGY) to Buy from Hold as they believe the company's diversification will lead to low earnings volatility.
- UBS upgraded Aventine Renewable (NYSE: AVR) and VeraSun Energy (NYSE: VSE) to Buy from Neutral based on expectations for margin improvements following recent corn price declines.
OTHER UPGRADES:
- Werner Enterprises (NASDAQ: WERN) was upgraded to Neutral from Underweight at JP Morgan and to Neutral from Underperform at Merrill.
- Wachovia raised Yum! Brands (NYSE: YUM) to Outperform from Market Perform.
- Entergy (NYSE: ETR) was lifted to Buy from Hold at Jefferies.
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