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Analyst upgrades 6-07-07: Semiconductor sector, DGX and FNM

MOST NOTEWORTHY: The semiconductor sector, Quest Diagnostics (NYSE: DGX) and Federal National Mortgage Association (NYSE: FNM) were today's noteworthy upgrades:
  • Bernstein upgraded the semiconductor sector to Overweight form Market Weight on expectations that utilization will rise starting in Q2. The firm upgraded ASML Holding NV (NASDAQ: ASML) to Outperform from Market Perform and Infineon Technologies (NYSE: IFX) to Market Perform from Underperform.
  • UBS upgraded Quest Diagnostics to Buy from Neutral, citing Laboratory Corporation Of America Holdings' (NYSE: LH) contract renewal with Cigna HealthCare, which should ease concerns regarding deteriorating pricing.
  • Fannie Mae was upgraded to Outperform from Market Perform at Friedman Billings, citing improving fundamentals, better business mix and the possibility the company reports current financials in the next 12-18 months.
OTHER UPGRADES:

Symbol Lookup
IndexesChangePrice
DJIA-68.0210,223.24
NASDAQ-10.052,156.85
S&P 500-8.611,089.90

Last updated: November 12, 2009: 01:18 PM

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