Analyst Upgrades

• Citigroup (C) to outperform from market perform at Bernstein.
• Cubist Pharma (CBST) to outperform from neutral at RW Baird.
• Pentair (PNR) to buy from hold at Citigroup.
• Heritage Financial (HFWA) to outperform from market perform at Keefe Bruyette.
• SL Green Realty (SLG) and Digital Realty (DLR) to market perform from underperform at FBR Capital.
• MGM Resorts (MGM) to neutral from Sell at Janney Capital.
• Ciena (CIEN) to buy from neutral and Olin (OLN) to buy from underperform at BofA/Merrill.
• Mellanox (MLNX) to overweight from equal weight at Barclays.
• ConocoPhillips (COP) and Canadian Natural (CNQ) to overweight from neutral at JPMorgan.
• IDEX (IEX) to outperform from perform at Oppenheimer.
• Taiwan Semiconductor (TSM) to buy from hold at Deutsche Bank.
• Ctrip.com (CTRP) to positive from neutral at Susquehanna.
• Linear Technology (LLTC) and Analog Devices (ADI) to hold from sell at Auriga.
• Quicksilver (KWK) to outperform from market perform at BMO Capital.

Analyst Upgrades

• General Electric (GE) and Barclays (BCS) to buy from neutral at UBS.
• Warnaco (WRC) to outperform from market perform and Melco Crown (MPEL) to market perform from underperform at Wells Fargo.
• Parker-Hannifin (PH) and Emerson Electric (EMR) to buy from neutral at Goldman.
• AMD (AMD) to buy from neutral at Nomura.
• Novellus (NVLS) and Sherwin-Williams (SHW) to equal weight from underweight at Morgan Stanley.
• OpenTable (OPEN) to outperform from market perform at Morgan Keegan.
• Skilled Healthcare (SKH) to buy from hold at Jefferies.
• Lear (LEA) to overweight from equal weight at Barclays.
• Adobe (ADBE) to buy from neutral at BofA/Merrill.

Analyst Upgrades

• BB&T (BBT) was upgraded to buy from neutral at Janney Montgomery.
• Amylin (AMLN) was upgraded to outperform from market perform at Leerink.
• Wells Fargo upgraded Morton's Restaurant (MRT) to outperform from market perform.
• Check Point (CHKP) was upgraded to overweight from neutral at HSBC.
• Deutsche Bank upgraded Excel Maritime (EXM) to buy from hold.
• JinkoSolar (JKS) was upgraded to buy from hold at Auriga.
• Piper Jaffray upgraded Compellent (CML) to overweight from neutral.
• BofA/Merrill upgraded Crane (CR) to buy from neutral.
• Goldman upgraded Wisconsin Energy (WEC) to conviction buy from buy and American Electric (AEP) to buy from neutral.
• Motorola (MOT) was upgraded due to increasing carrier support by MKM Partners.
• Under Armour (UA) was upgraded to buy from neutral at Sterne Agee.

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Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Alcoa Inc. (NYSE: AA) kicked off the new season with a larger-than-expected loss due to the economic slump.
• Allscripts-Misys Healthcare Solutions (NASDAQ: MDRX) reported better-than-expected Q2 earnings.
• Apollo Group Inc. (NASDAQ: APOL) share price soared after its strong Q1 earnings and guidance.
• Apple Inc. (NASDAQ: AAPL) earnings prospects without CEO Steve Jobs led to an analyst's downgrade.
• Autodesk Inc. (NASDAQ: ADSK) lowered its guidance as business slows at an unprcedented rate.
• Bank of America Corp. (NYSE: BAC) reported terrible Q4 results and receivbed additional TARP money.
• Bunge Ltd. (NYSE: BG) lowered its 2008 earnings estimate due to soft soybean commodity markets.
• Citigroup Inc. (NYSE: C) posted a much bigger-than-expected loss and said it would split in two.
• Coventry Health Care Inc. (NYSE: CVH) offered full-year guidance that was less than analysts expectations.
• CSX Corp. (NYSE: CSX) forecast Q4 earnings would come in below analysts' expectations.
• CVS Caremark Corp. (NYSE: CVS) increased its quarterly dividend despite the recent lowered guidance.
• Deutsche Bank (NYSE: DB) reported a net loss for Q4 and the full year, dragging down the sector.
• Genentech Inc. (NASDAQ: DNA) revenue and earnings surged but were lower than analysts estimated.
• Intel Corp. (NASDAQ: INTC) Q4 results were in line with low expectations as the gross margin declined.
• JPMorgan Chase & Co. (NYSE: JPM) reported a huge drop in Q4 earnings but it stayed in the black.
• Lexmark International Inc. (NYSE: LXK) slashed its Q4 outlook and announced job cuts.
• Pentair Inc. (NYSE: PNR) efforts to limit an earnings decline led to a buy recommendation.
• Precision Cast Corp. (NYSE: PCP) earnings prospects following the recent rally led to an analyst's downgrade.

MOST NOTEWORTHY: Cheesecake Factory (CAKE), Jabil Circuit (JBL), MGM Mirage (MGM), Darden Restaurants (DRI) and Crocs (CROX) were today's more noteworthy upgrades:

• Robinson Humphries upgraded Cheesecake Factory (NASDAQ: CAKE) to Neutral from Reduce citing limited downside risk.

• Jabil Circuit (NYSE: JBL) was raised to Outperform from Neutral at Credit Suisse and to Outperform from Sector Perform at RBC Capital based on its better-than-expected Q3 report.

• CIBC upgraded MGM Mirage (NYSE: MGM) to Sector Outperform from Sector Perform and gives the odds of a takeout at 50/50 but said business remains healthy and that the value of Las Vegas Strip assets should continue to rise for the next several years. Susquehanna said Kerkorian's decision not to pursue the Bellagio and CityCenter assets is a strong vote of confidence in MGM's management to create shareholder value and upgraded shares to Positive from Neutral.

• Darden Restaurants (NYSE: DRI) was upgraded to Buy from Hold at Matrix based on management's positive steps to improve economic profit by selling off its under-performing units.

• ThinkEquity upgraded Crocs (NASDAQ: CROX) to Buy from Accumulate on expectations that sales will continue to be strong driven by new product introductions, as well as retail doors and square footage growth...

OTHER UPGRADES:

• Goldman upgraded Kraft Foods (NYSE: KFT) to Neutral from Sell.

• Baird upgraded Pentair (NYSE: PNR) to Neutral from Underperform.

• Citigroup upgraded AES Corp (NYSE: AES) to Buy from Hold.

• Credit Suisse upgraded Sohu.com (NASDAQ: SOHU) to Outperform from Neutral.

• Raymond James upgraded Pier 1 Imports (NYSE: PIR) to Outperform from Market Perform.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).