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MOST NOTEWORTHY: Cortex Pharma, Royal Bank of Scotland and Trex were today's noteworthy upgrades:
  • Rodman & Renshaw upgraded Cortex Pharma (AMEX:COR) to Market Perform from Underperform citing the company's progress towards renewing its pipeline and notes that results from two proof-of-concept studies assessing acute administration of COR's lead AMPAKINE molecule are expected in the coming months.
  • Citigroup upgraded shares of Royal Bank of Scotland (NYSE:RBS) to Buy from Hold on valuation following the recent weakness, as they believe the sell-off has been excessive.
  • Suntrust raised Trex (NYSE:TWP) to Buy from Neutral based on management's turnaround efforts, expectations for increased market share in composite decking, and valuation, among other reasons.
OTHER UPGRADES:
  • Friedman Billings upgraded Hot Topic (NASDAQ:HOTT) to Outperform from Market Perform.
  • Lehman raised UAL Corp (NASDAQ:UAUA) and Northwest Airlines (NWA) to Overweight from Equal Weight.
  • Goldman added Eli Lilly (NYSE:LLY) to its Conviction Buy List.

Analyst upgrades: COR, RBS and TWP originally appeared on BloggingStocks on Thu, 05 Jun 2008 11:12:00 EST. Please see our terms for use of feeds.

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