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MOST NOTEWORTHY: Macrovision, SAIC, Inc and Dassault Systemes were today's noteworthy upgrades:
- Jefferies upgraded shares of Macrovision (NASDAQ: MVSN) to Buy from Hold on valuation, as they think the stock looks "very cheap" if the Gemstar (NASDAQ: GMST) deal does not get done; if the deal does get done, they think investors will get paid, but admits it may take longer.
- JP Morgan upgraded SAIC Inc. (NYSE: SAI) to Overweight from Neutral as they expect the company to beat consensus estimates as margins surprise to the upside given cost reductions and cargo detection sales.
- Dassault Systemes (NASDAQ: DASTY) was upgraded to Overweight from Equal Weight at Morgan Stanley as they find the company's recurring business and lack of exposure to troubled markets attractive in the current market.
OTHER UPGRADES:
- GSI Commerce (NASDAQ: GSIC) was upgraded to Outperform from Underperform at Bear Stearns.
- Lehman upgraded Cigna (NYSE: CI) to Equal Weight from Underweight.
- Citigroup upgraded Alpha Bank (OTC: ALBKY) to Buy from Hold.
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