Welcome to my new Canada Report blog. Here's where you'll find information about profitable investing in America's northern neighbor.

Why should you care? Start with this fact, which may surprise you. Over the five years to Oct. 28, Canada's benchmark stock index, the S&P/TSX Composite, has gained 21.8% -- and remember this period includes the worst market meltdown since the 1930s. What did the S&P 500 do in that time? It lost 1.2%.

There's more. Those figures are in local currencies. In fact, the Canadian dollar has been steadily appreciating against the U.S. greenback since 2002 and is now up more than 60% since that time. So Americans who put some of their money in Canada not only enjoyed stock market profits but they also benefited from exchange rate gains.

Analyst Upgrades

• Soleil upgraded Thor Industries (THO) to buy from hold after the company said its accounting review will not lead to changes to previously taken accounting positions. The firm raised its target for shares to $45 from $28.
• Citigroup upgraded Family Dollar (FDO) to buy from hold, citing valuation and its positive view on the dollar store industry. The firm upped its target for shares to $47 from $44.
• Wells Fargo upgraded Albany Molecular (AMRI) to outperform from market perform, citing valuation and a stabilizing core business.
• Goldman Sachs (GS) upgraded to overweight from neutral at JPMorgan.
• Patterson-UTI Energy (PTEN) was upgraded to equal weight from underweight at Barclays.
• BP (BP) was raised to buy from hold at RBS.

Analyst Upgrades

• Deutsche Bank upgraded Barrick Gold (ABX) to buy from hold and reiterates a buy rating on Newmont Mining (NEM) after upping its 2011 gold forecast to $1,450 per ounce and 2012 forecast to $1,600 per ounce. The firm upped its target for Barrick shares to $53 from $45, for Newmont shares to $74 from $72, and on hold-rated Goldcorp (GG) and Kinross Gold (KGC) to $40 and $20, respectively.
• Citigroup upgraded General Dynamics (GD) to hold from sell following the recent pullback in shares. The firm keeps a $67 price target for the stock.
• UBS upgraded Public Service (PEG) to buy from neutral and has a $34 price target on the stock. The firm cites the company's solid balance sheet, earnings profile, and valuation for the upgrade.
• News Corp. (NWS) was upgraded to buy from hold at Soleil.
• AK Steel (AKS) was upgraded to neutral from underperform.
• Progress Energy (PGN) was upgraded to buy from neutral at BofA/Merrill.
• PNC Financial (PNC) was upgraded to outperform from market perform at Keefe Bruyette.

Analyst Upgrades

• Kaufman Bros. upgraded Palm (PALM) to hold from sell after the company was acquired by Hewlett-Packard (HPQ).
• Citigroup upgraded Akamai (AKAM) to buy from hold following the company's better-than-expected Q1 results. The firm raised its target for shares to $44 from $32.
• Deutsche Bank upgraded Rockwell Automation (ROK) to hold from sell following the company's Q2 results and guidance. The firm raised its target for shares to $60 from $49.
• First Solar (FSLR) was upgraded to buy from hold at Deutsche Bank and to hold from sell at Soleil.
• Beckman Coulter (BEC) was upgraded to overweight from neutral at Piper Jaffray.
• Barrick Gold (ABX) was upgraded to buy from hold at Jefferies.