Analyst Upgrades

• Aetna (AET) to buy from neutral at Goldman.
• Kellogg (K) to buy from neutral at UBS.
• PetSmart (PETM) to outperform from market perform at JMP Securities.
• NetApp (NTAP) and Scripps Networks (SNI) to buy from hold at Wunderlich.
• Thoratec (THOR) to buy from hold at Auriga.
• ArcelorMittal (MT) to overweight from neutral at HSBC.
• Bristol-Myers (BMY) to outperform from neutral at Cowen.
• Eaton Vance (EV) to neutral from sell at Ticonderoga.
• Adtran (ADTN) to buy from underperform at BofA/Merrill.

Analyst Upgrades

• Berstein upgraded Diamond Offshore (DO) to market perform from underperform based on valuation. The firm has a $69 price target on the stock.
• Jefferies upgraded Patterson-UTI Energy (PTEN) to buy from hold, citing leverage to higher land rig pricing. The firm raised its price target to $21 from $17.
• Wunderlich upgraded Renasant (RNST) to buy from hold following the company's acquisition of Crescent Bank. The firm raised its target for shares to $20 from $15.
• AT&T (T) was upgraded to buy from hold at Deutsche Bank.
• Blackstone (BX) was upgraded to buy from neutral at BofA/Merrill.
• Scripps Networks (SNI) was upgraded to overweight from equal weight at Morgan Stanley.

Analyst Upgrades

• Deutsche Bank upgraded United Parcel Service (UPS) to buy from hold on expectations the company will benefit from improving international package volumes and restructuring initiatives. The firm raised its target on shares to $70 from $67.
• JPMorgan upgraded SVB Financial (SIVB) to overweight from neutral on valuation following the recent pullback in shares. The firm has a $54 price target on the stock.
• Baird upgraded ArvinMeritor (ARM) to outperform from neutral and raised its target to $15 from $12 following the Q2 report. The firm said ArvinMeritor has transformed its business model and is well-positioned for growth.
• UBS (UBS) was upgraded to overweight from neutral at JPMorgan.
• Occidental Petroleum (OXY) was upgraded to conviction buy from buy at Goldman.
• Vail Resorts (MTN) was upgraded to outperform from market perform at Wells Fargo.

Analyst Upgrades

• JPMorgan upgraded Alliance Data Systems (ADS) to overweight from neutral to reflect potential upside to 2010 estimates. The firm raised its target on shares to $84 from $68.
• JMP Securities upgraded SVB Financial (SIVB) to outperform from market perform and has a $54 target on the stock. The firm believes industry conditions are improving and that the recent TARP repayment is a positive sign regarding credit and liquidity.
• Citigroup upgraded Agrium (AGU) to buy from hold on expectations that 2010 will bring a recovery in fertilizer volumes. The firm raised its target price on shares to $82 from $64.
• Edwards Lifesciences (EW) was upgraded to conviction buy from buy at Goldman.
• Barclays (BCS) was upgraded to buy from neutral at UBS.
• Tower Bancorp (TOBC) was upgraded to outperform from market.

• Stephens upgraded The Andersons (NASDAQ: ANDE) to Overweight from Equal Weight on expectations the company is benefiting from good space income opportunities and better ethanol profitability. The firm raised its target price to $31 from $28.
  
• Jefferies upgraded NRG Energy (NYSE: NRG) to Buy from Hold as the analyst believes Exelon (NYSE: EXC) will have to materially raise its offer to close the acquisition. The firm raised its target on shares to $25 from $22.50.
  
• FBR Capital upgraded FMC Technologies (NYSE: FTI) to Outperform from Market Perform after meeting with management to reflect the company's 2011 growth potential. The firm raised its target on shares to $51.
• J. Sainsbury (OTC: JSAIY) was upgraded to Overweight from Equal Weight at Morgan Stanley.
  
• SVB Financial (NASDAQ: SIVB) and Fulton Financial (NASDAQ: FULT) were upgraded to Outperform from Sector Perform at RBC Capital.

• Jefferies upgraded HMS Holdings (NASDAQ: HMSY) to Buy from Hold on valuation as they believe the recent weakness provides an attractive entry point. The firm keeps a $36 price target on shares.
  
• Credit Suisse believes Universal Health (NYSE: UHS) is well positioned to gain market share, that earnings risk from the Las Vegas market is manageable, and that the balance sheet provides flexibility. The firm upgraded shares to Outperform from Neutral and raised their target to $48 from $46.
  
• UBS upgraded RF Micro (NASDAQ: RFMD) to Buy from Neutral citing checks that indicate strengthening momentum, impact from recent restructuring, and expected debt reduction. The analyst raised RFMD estimates above consensus and upped the price target to $3 from $1.10.
• Liberty Capital (NASDAQ: LCAPA) was upgraded to Buy from Hold at Deutsche Bank.
  
• Tesoro (NYSE: TSO) was raised to Hold from Sell at Soleil.
  
• SunTrust (NYSE: STI) was lifted at Keefe Bruyette to Outperform from Market Perform.