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Analyst upgrades:
- Jefferies upgraded Consolidated Edison (NYSE: ED) to Buy from Hold on expectations the company will be able to reach a settlement with the New York PSC Staff that will provide benefits to both ratepayers and shareholders. The firm raised its target on shares to $46 from $40.50.
- Keefe Bruyette upgraded Public Storage (NYSE: PSA) to Market Perform from Underperform to reflect the company's balance sheet, industry leading position, and potential for accretive acquisitions. The firm raised its target on shares to $75 from $57.
- JPMorgan upgraded Big Lots (NYSE: BIG) to Overweight from Neutral to reflect valuation and industry data points that suggest a pick-up in discretionary spending. The firm has a $30 target on the stock.
- Alcoa (NYSE: AA) was upgraded to Buy from Hold at Deutsche Bank.
- East West Bancorp (NASDAQ: EWBC) was upgraded to Outperform from Market Perform at Keefe Bruyette.
- Bronco Drilling (NYSE: BDC) was upgraded to Neutral from Sell at UBS.
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