Analyst Upgrades

• BB&T (BBT) and Aflac (AFL) to buy from hold at Deutsche Bank.
• Kodiak Oil & Gas (KOG) to outperform from neutral at RW Baird.
• Zhongpin (HOGS) to neutral from reduce at Global Hunter.
• Marathon Oil (MRO), Noble Energy (NBL) and Manulife Financial (MFC) to buy from neutral at UBS.
• Carrizo Oil & Gas (CRZO) to buy from hold at Canaccord.
• Comerica (CMA) to buy from neutral at Rochdale.

Stocks hit what appears to be a 2-year high on the DJIA and NASDAQ today as economists and allocation experts keep raising targets for 2011. The jobless claims data was not enough to unravel markets and Moody's issuing additional warnings on Spain and Greece failed to dash the ambitions of the bulls. Even after bond yields challenged 7-months highs briefly this morning and even after more insider trading arrests were announced, the bulls still won.

Here were today's unofficial closing bell levels:

Dow Jones 11,499.25 +41.78 (0.36%)
S&P 500 1,242.87 +7.64 (0.62%)
Nasdaq 2,637.31 +20.09 (0.77%)

Top Analyst Upgrades & Downgrades

Analyst upgrades:

• Keefe Bruyette upgraded American Express (NYSE: AXP) to Outperform from Market Perform to reflect improving credit trends following the July monthly data. The firm raised its target price on shares to $37.
• Oppenheimer upgraded Corning (NYSE: GLW) to Outperform from Perform as it believes 2010 estimates are achievable and concerns over falling LCD demand are overdone. The firm set a $19 price target on the stock.
• JPMorgan upgraded International Game Technology (NYSE: IGT) to Overweight from Neutral on valuation and expectations domestic replacement orders will pick up. The firm has a $23 price target on shares.
• Goldman Sachs (NYSE: GS) was raised to Buy from Neutral at Pali Capital.
• Portland General Electric (NYSE: POR) was upgraded to Buy from Neutral at Goldman.
• Mechel Steel (NYSE: MTL) was upgraded to Neutral from Reduce at Nomura.