Analyst upgrades: WFR, C and SANM

MOST NOTEWORTHY: Memc Electronic, Citigroup and Sanmina were today's noteworthy upgrades:

Citigroup upgraded shares of Memc Electronic (NYSE:WFR) to Buy from Hold on valuation as they believe the bad news is priced in following the company's quarter. The firm raised Memc's target to $65 from $64. JP Morgan upgraded shares to Overweight from Neutral on valuation.
Morgan Stanley upgraded Citigroup (NYSE:C) to Equal Weight from Underweight based on asset sales, improved top-line, and dividend.
Credit Suisse upgraded Sanmina (NASDAQ:SANM) to Outperform from Neutral citing valuation and margin traction. The firm raised Sanmina's target to $2.50 from $1.60. Cowen upgraded Sanmina to Outperform from Neutral following the Q3 report and guidance.

OTHER UPGRADES:

Pharm Product (NASDAQ:PPDI) was upgraded at Baird to Outperform from Neutral.
Sunoco Logistics (NYSE:SXL) was raised to Outperform from Market Perform at Wachovia.
JP Morgan lifted Air Products (NYSE:APD) to Overweight from Neutral.