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Analyst upgrades: EAS, STI and SU

MOST NOTEWORTHY: Energy East, SunTrust Banks and Suncor were today's noteworthy upgrades:

  • Jefferies upgraded shares of Energy East (NYSE: EAS) to Buy from Hold on valuation, pointing out the return on the transaction if the Iberdrola/EAS merger deal closes is 21.9%. The firm raised their target to $28.50 from $25.50.
  • Baird upgraded SunTrust Banks (NYSE: STI) to Outperform from Neutral citing valuation and notes the company is unlikely to need to raise capital.
  • CIBC raised Suncor (NYSE: SU) to Outperformer from Sector Performer following news that Alberta's Energy Resource Conservation Board has lifted restrictions on production on the company's Firebag SAGD project.

OTHER UPGRADES:

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Last updated: December 02, 2008: 08:03 AM

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