Analyst Upgrades

• Deutsche Bank upgraded PNC Financial (PNC) to buy from hold on valuation as it believes the recent pullback in shares provides a buying opportunity. The firm raised its target on shares to $57 from $45.
• Kaufman Bros. upgraded Expedia (EXPE) to buy from hold on valuation as it finds the risk/reward on shares attractive following the company's Q4 results and believes revenue margin concerns are overblown. The firm has a $27 price target on the stock.
• Jesup & Lamont upgraded Chipotle Mexican Grill (CMG) to hold from sell following the company's Q4 results to reflect its improving traffic trends. The firm raised its target on shares to $96 from $81. Shares were also upgraded at BofA/Merrill to buy from neutral.
• Rio Tinto (RTP) was upgraded to outperform from neutral at Credit Suisse.
• FirstEnergy (FE) was upgraded to hold from underperform at Jefferies.
• Marriott (MAR) was upgraded to perform from underperform at Oppenheimer.

Wall Street's equity market has a light schedule this week, with three IPOs and two Secondaries on the docket. Those following deals tentatively scheduled to price include:

IPOs:

Possible
• Vaughan Foods (FOOD), a 2.8 million share IPO for this food-store chain. Paulson Investment and Capital West are the lead managers. Filing range: $8.00-$10.00.

Thursday
• People's United (PBCT), 185.4 million share IPO for the demutualization of this bank holding company. Morgan Stanley is the lead manager. Filing price: $20.00.

Friday
• Comverge (COMV), a 4.7 million share IPO for this metering devices and services company. Citigroup is the lead manager. Filing range: $15.00-$17.00.

Secondaries:

Mid Week
• Boots & Coots International Well Control Inc. (AMEX: WEL), a 26 million share Secondary for this oil and gas services company. Morgan Keegan is the lead manager. Filing price: $2.26.

Late Week
• Rainmaker Systems Inc. (NASDAQ: RMKR), a 4.17 million share Secondary for this customer relations services company. Needham is the lead manager.

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