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Analyst upgrades:
- Jefferies upgraded shares of Genentech (NYSE: DNA) to Buy from Hold and raised its target to $100 from $95 on increased likelihood of an acquisition after Roche (OTC: RHHBY) reaffirmed commitment to its $100/share offer.
- Baird expects Broadcom (NASDAQ: BRCM) to gain market share in 2009 in mobile phones, IPTVs, and digital TVs. Shares were upgraded to Outperform from Neutral.
- Keefe Bruyette upgraded shares of Torchmark (NYSE: TMK) to Outperform from Market Perform as they see limited earnings risk and an attractive risk/reward.
- Apple (NASDAQ: AAPL) was raised to Buy from Add at Calyon.
- Tellabs (NASDAQ: TLAB) was upgraded to Buy from Neutral at UBS and to Hold from Underperform at Jefferies.
- Goldman upgraded AK Steel (NYSE: AKS) to Neutral from Sell and Steel Dynamics (NASDAQ: STLD) to Buy from Neutral.
Analyst downgrades:
Advanced Micro Devices rallies after settling Intel tiff
United Technologies fires up a deal with GE
Cramer on BloggingStocks: Not much time left for downside 
