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MOST NOTEWORTHY: Norfolk Southern, OfficeMax and PetroQuest Energy were today's noteworthy upgrades:
- JP Morgan upgraded Norfolk Southern (NYSE:NSC) to Overweight from Neutral based on leverage to export coal and the tighter truckload market.
- Credit Suisse upgraded OfficeMax (NYSE:OMX) to Outperform from Neutral citing the company's clean balance sheet, positive cash flow, and limited downside.
- UBS upgraded PetroQuest Energy (NYSE:PQ) to Buy from Neutral citing valuation and production catalysts. The company's target was raised to $30 from $25.
OTHER UPGRADES:
- Piper Jaffray (NYSE:PJC) was upgraded to Market Weight from Underweight at Thomas Weisel.
- Corning(NYSE:GLW) was upgraded at Merrill to Buy from Neutral.
- HSBC lifted BP Plc (NYSE:BP) to Overweight from Neutral.
- Calgon Carbon (NYSE:CCC) was raised to Hold from Sell at Morgan Joseph.
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