- Natixis expects Alcatel-Lucent's (NYSE: ALU) results to improve in 2H09, driven by the CDMA segment and completion of Lucent integration. Shares were upgraded to Buy from Reduce.
- RBC Capital upgraded Canadian Pacific (NYSE: CP) to Outperform from Sector Perform and raised its target to $67 from $49. The firm expects a return to "normalized" operating environment driven by Potash and MetCoal.
- Credit Suisse upgraded Affiliated Managers Group (NYSE: AMG) to Outperform from Neutral and raised its target to $69 from $64. The firm cites valuation, potential upside from 2H09 deals, and expectations for positive 2H09 flows for the upgrade.
- Kennametal (NYSE: KMT) coverage was assumed with a Neutral from Underweight at JPMorgan.
- Cardinal Financial (NASDAQ: CFNL) was upgraded to Outperform from Neutral at Baird.
- General Maritime (NYSE: GMR) was upgraded to Outperform from Market Perform at FBR Capital.
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FeedAnalyst upgrades, downgrades and initiations: ALU, AMED, BIIB, CP, NZ, TWX ...
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