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MOST NOTEWORTHY: Southwest Gas, Hittite Microwave and Repsol SA were today's noteworthy upgrades:
- Citigroup upgraded shares of Southwest Gas (NYSE: SWX) to Buy from Hold on valuation, as they believe the company's fundamentals have improved enormously over the last three years.
- Thomas Weisel upgraded shares of Hittite Microwave (NASDAQ: HITT) to Overweight from Market Weight, as they believe the company is executing on its strategy of increasing new product introductions and growing its global sales efforts. They believe shares are undervalued and maintain a $43 target.
- Repsol SA (NYSE: REP) was raised to Buy from Hold at Deutsche Bank as they expect good news to flow in 2008.
OTHER UPGRADES:
- Goldman upgraded CNOOC (NYSE: CEO) to Buy from Neutral and added shares to their Conviction Buy List.
- Urban Outfitters (NASDAQ: URBN) was raised to Equal Weight from Underweight at Morgan Stanley.
- Broadpoint raised Ultimate Software (NASDAQ: ULTI) to Buy from Neutral.
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