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Analyst upgrades:
- Jefferies upgraded shares of Constellation Energy (NYSE: CEG) to Buy from Hold and raised its target to $26.50 from $25 on valuation as they believe MidAmerican Energy will consummate the merger. The firm points out shares are trading at a 14% discount to the $26.50 offer.
- Merriman upgraded Denny's Corp. (NASDAQ: DENN) to Buy from Neutral as they believe the company's restructuring and successful menu and food cost management should stabilize operating margins.
- Daimler (NYSE: DAI) was upgraded at Merrill to Buy from Neutral on valuation as they believe the stock is oversold at current levels.
- Taiwan Semi (NYSE: TSM) was upgraded to Overweight from Neutral at HSBC.
- Veolia Environnement (NYSE: VE) was lifted to Neutral from Underperform at Credit Suisse.
- Goldman raised PMC Sierra (NASDAQ: PMCS) to Buy from Neutral.
Analyst downgrades:
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
