Analyst Upgrades

• B. Riley upgraded Hot Topic (HOTT), citing valuation, increased holiday traffic once promotions began, and views upcoming difficult Q4/Q1 comps as a buying opportunity ahead of a turnaround. The firm has a target of $8.30 on shares.
• Wunderlich upgraded RAM Energy (RAME) as it believes that the company has successfully survived a difficult year. The firm thinks the company's debt level is high but manageable while its production should increase over the next several years. The firm set a $4 target on shares.
• Roth Capital upgraded Actuate (ACTU), citing recent share weakness, the recent Xenos deal and the improving economy, both of which should improve growth. The firm has a target of $5.50 on the shares.
• Finish Line (FINL) upgraded to buy from neutral at Stern Agee.

MOST NOTEWORTHY: Potash, Cadbury Schweppes and Zoran were today's noteworthy upgrades:

• Citigroup upgraded shares of Potash (NYSE: POT) to Buy from Hold and raised its target to $178 from $141 to reflect their expectation for a more bullish outcome from the ongoing China Potash contract negotiations.
• Cadbury Schweppes (NYSE: CSG) was raised to Overweight from Neutral at JP Morgan to reflect the company's takeout potential and cash returns.
• Oppenheimer raised its rating on Zoran (NASDAQ: ZRAN) to Outperform from Perform on valuation, as they believe the recent weakness is overdone.

OTHER UPGRADES:

• Pep Boys (NYSE: PBY) was upgraded to Market Weight from Underweight at Thomas Weisel.
• JMP Securities upgraded Actuate (NASDAQ: ACTU) to Strong Buy from Outperform.
• Goldman raised Broadcom (NASDAQ: BRCM) to Buy from Neutral.

MOST NOTEWORTHY: The trucking sector, Banco Santander and StatoilHydro were today's noteworthy upgrades:

• Bear upgraded the trucking sector to Market Weight from Underweight and continues to expect weak pricing but believes valuations are near a bottom. The firm raised Con-way Inc. (NYSE: CNW) and Knight Transportation (NYSE: KNX) to Peer Perform from Underperform.
  
• WestLB upgraded shares of Banco Santander (NYSE: STD) to Buy from Add as they believe the company's diversified business would shield it from an economic slowdown in Spain.
  
• StatoilHydro (NYSE: STO) was upgraded to Buy from Hold at Societe Generale on valuation, as they believe the company has one of the most risk/reward profiles in the industry.

OTHER UPGRADES:

• Under Armour (NYSE: UA) was upgraded to Buy from Hold at Citigroup.
  
• B. Riley upgraded Actuate (NASDAQ: ACTU) to Buy from Neutral.
  
• Deutsche Bank raised RF Micro (NASDAQ: RFMD) to Hold from Sell.

MOST NOTEWORTHY: General Motors, Acuity Brands, Post Properties, Manpower and IMAX Corp were today's noteworthy upgrades:

• UBS upgraded General Motors (NYSE: GM) to Buy from Sell citing a potential $3B in cost savings from the "transformational contract" with the UAW.
  
• Acuity Brands (NYSE: AYI) was upgraded to Outperform from Neutral at Baird based on valuation and management's ability to execute.
  
• Post Properties (NYSE: PPS) was raised to Neutral from Sell at Merrill Lynch following its Q3 report and guidance.
  
• Citigroup upgraded shares of Manpower (NYSE: MAN) to Buy from Hold as they like the company's business model and balance sheet.
  
• Soleil upgraded shares of IMAX Corporation (NASDAQ: IMAX) to Buy from hold with digital IMAX set to launch in Q208, to reflect the attractive economics of the company's new joint venture model.

OTHER UPGRADES:

• Verizon Communications (NYSE: VZ) was upgraded to Market Perform from Underperform at Raymond James.
  
• JMP Securities upgraded Actuate Corporation (NASDAQ: ACTU) to Outperform from Market Perform.
  
• Citigroup upgraded FormFactor (FORM) to Buy from Hold and added shares to their Global Tech Conviction List.
  
• CIBC upgraded Northgate Minerals Corporation (NYSE: NXG) to Sector Performer from Sector Underperformer.