MOST NOTEWORTHY: Memc Electronic, Citigroup and Sanmina were today's noteworthy upgrades:
Citigroup upgraded shares of Memc Electronic (NYSE:WFR) to Buy from Hold on valuation as they believe the bad news is priced in following the company's quarter. The firm raised Memc's target to $65 from $64. JP Morgan upgraded shares to Overweight from Neutral on valuation.
Morgan Stanley upgraded Citigroup (NYSE:C) to Equal Weight from Underweight based on asset sales, improved top-line, and dividend.
Credit Suisse upgraded Sanmina (NASDAQ:SANM) to Outperform from Neutral citing valuation and margin traction. The firm raised Sanmina's target to $2.50 from $1.60. Cowen upgraded Sanmina to Outperform from Neutral following the Q3 report and guidance.
OTHER UPGRADES:
Pharm Product (NASDAQ:PPDI) was upgraded at Baird to Outperform from Neutral.
Sunoco Logistics (NYSE:SXL) was raised to Outperform from Market Perform at Wachovia.
JP Morgan lifted Air Products (NYSE:APD) to Overweight from Neutral.
MOST NOTEWORTHY: Lam Research, Deutsche Telekom and France Telecom were today's noteworthy upgrades:
Credit Suisse upgraded Lam Research (NASDAQ:LRCX) to Outperform from Neutral citing margin expansion and valuation. Lam was named the firm's top pick in SCE names for 2H08.
JP Morgan upgraded shares of Deutsche Telekom (NYSE:DT) to Overweight from Neutral as they expect a stronger second half of the year for the industry.
France Telecom (NYSE:FTE) was upgraded to Buy from Neutral at Merrill and to Buy from Hold at Societe Generale after the company walked away without bidding for Sweden's TeliaSonera.
MOST NOTEWORTHY: Celgene (CELG), Flextronics (FLEX), TradeStation (TRAD) and Assisted Living Concepts (ALC) were today's noteworthy initiations:
Jefferies is positive on Celgene (NASDAQ: CELG) over the longer term given the company's robust earnings growth potential and strong cash flow prospects, and started shares with a Buy.
Flextronics (NASDAQ: FLEX) was assumed with a Buy rating at Banc of America, who called the proposed acquisition of Solectron (SLR) a positive.
Friedman Billings believes TradeStation's (NASDAQ: TRAD) unique platform differentiates it from the competition and gives it a sustained advantage, starting shares with an Outperform.
Ferris Baker Watts initiated Assisted Living (NYSE: ALC) with a Buy rating, calling shares attractive...
MOST NOTEWORTHY: The electronics manufacturing services sector was today's noteworthy initiation:
Credit Suisse initiated coverage of the EMS sector with an Underweight. The firm believes the industry is burdened with overcapacity in high-cost manufacturing regions, with hyper competition, allowing for no pricing power.
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MOST NOTEWORTHY: Memc Electronic, Citigroup and Sanmina were today's noteworthy upgrades: 
MOST NOTEWORTHY: The electronics manufacturing services sector was today's noteworthy initiation: 
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