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Analyst upgrades:
- Merriman upgraded Sunpower (NASDAQ: SPWRA) two levels to Buy from Sell after transitioning coverage. The firm believes Sunpower is emerging from the current recession as the CleanTech leader and has a $38-$48 price range on shares.
- Citigroup upgraded Varian Medical (NYSE: VAR) to Buy from hold as it believes capex pressure and health care reform uncertainty is priced into shares, and demand will return as hospital budgets stabilize. Citi raised its target on shares to $45 from $36.
- FBR Capital upgraded Gap (NYSE: GPS) to Outperform from Market Perform following the Q2 results to reflect product improvement and ongoing inventory control. The firm raised its target on shares to $24 from $18.
- Schnitzer Steel (NASDAQ: SCHN) was upgraded to Neutral from Sell at UBS.
- UDR Inc. (NYSE: UDR) was upgraded to Market Perform from Underperform at Wells Fargo.
- The Buckle (NYSE: BKE) was upgraded to Buy from Hold at Roth Capital.
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