Analyst upgrades:
- Keefe Bruyette upgraded Affiliated Managers Group (NYSE: AMG) to Market Perform from Outperform to reflect the rebound in equity and fixed income markets as well as an attractive risk/reward profile. The firm raised its target on shares to $72 from $61.
- Jefferies upgraded AGCO Corp. (NYSE: AGCO) to Buy from Hold as it believes equipment sales in Brazil are holding up better than expected and farm stimulus should set a floor in sales. The firm raised its target on shares to $36 from $25.
- Deutsche Bank upgraded ArcelorMittal (NYSE: MT) to Buy from Hold to reflect reduced balance sheet risk and a more positive view on the steel sector. The raised its target on shares to $42 from $23
- Yahoo! (NASDAQ: YHOO) was upgraded to Buy from Hold at Citigroup.
- Synovus (NYSE: SNV) was raised to Buy from Neutral at SunTrust.
- First American (NYSE: FAF) was lifted to Overweight from Equal Weight at Stephens.
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