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Analyst upgrades:
- FBR Capital upgraded Frontline (NYSE: FRO) to Market Perform from Underperform to reflect the company's above-average day rates and alleviated near-term financing pressures. The firm raised its target on shares to $23 from $14.
- Baird upgraded Varian Medical (NASDAQ: VARI) to Outperform from Neutral and said checks at ESTRO meeting indicate European radiation therapy market demand will remain "respectable" in 2010 and that launch of Unique could drive incremental demand in developing markets. The firm has a $49 target on shares.
- Goldman believes GameStop (NYSE: GME) Street expectations are beatable and valuation is attractive. The firm upgraded shares to Conviction Buy from Neutral and has a $28 target.
- Borg-Warner (NYSE: BWA) was upgraded to Outperform from Market Perform at Wells Fargo.
- KKR Financial (NYSE: KFN) was upgraded to Outperform from Market Perform at JMP Securities.
- Cathay Pacific (OTC: CPCAY) was upgraded to Outperform from Neutral at Credit Suisse.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
