MOST NOTEWORTHY: Today's most noteworthy upgrades were Reynolds American, Inc (RAI), PRA International (PRAI), Wendy's International (WEN), 3M Company (MMM) and PMC-Sierra, Inc (PMCS):
- JP Morgan upgraded shares of Reynolds American Inc (NYSE: RAI) to Neutral from Underweight to reflect the company's solid 2007 outlook and improved cigarette mix.
- 3M Company (NYSE: MMM) was upgraded to Overweight from Neutral at Prudential...
OTHER UPGRADES:
- Soleil upgraded the semiconductor sector to Overweight from Underweight, believing a recovery in fundamentals is likely over the next 6 months and expecting shares to outperform over the next 12 to 18 months.
- First Albany upgraded shares of Xilinx, Inc (NASDAQ: XLNX) to Buy from Neutral to reflect operating leverage and the end of the inventory concern.
- Wachovia upgraded shares of Agco Corp (NYSE: AG) to Market perform from Outperform.
- Corning (NYSE: GLW) was upgraded at Goldman to Buy from Neutral with a $31 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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MOST NOTEWORTHY: ProAssurance, Sonic Automotive and Interstate Hotels & Resorts were today's noteworthy initiations:
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