Analyst upgrades:
- FBR Capital upgraded M&T Bank (NYSE: MTB) to Market Perform from Underperform following the Q3 results to reflect the company's improved earnings outlook and better credit trends. The firm has a $70 price target on shares.
- Kaufman Bros. upgraded Autodesk (NASDAQ: ADSK) to Buy from Hold as it believes a bottom has been reached in the manufacturing and construction industries. The firm raised its target on shares to $30 from $26.
- Goldman upgraded Caterpillar (NYSE: CAT) to Neutral from Sell and raised its target to $64 from $48 citing improved cost controls and construction outlook.
- Pentair (NYSE: PNR) was upgraded to Buy from Hold at KeyBanc.
- Lexmark (NYSE: LXK) was upgraded to Neutral from Underweight at JPMorgan.
- Stryker (NYSE: SYK) was upgraded to Neutral from Underperform at BofA/Merrill.
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