Analyst Upgrades

• Deutsche Bank upgraded Southern Copper (SCCO) to buy from hold to reflect valuation and positive near-term catalysts. The firm raised its target for shares to $38 from $35.
• JMP Securities upgraded Ultimate Software (ULTI) to outperform from market perform. The firm cites the company's expanding employee base for the upgrade. The firm has a $40 target on the stock.
• Piper Jaffray upgraded Aeropostale (ARO) to neutral from underweight following the company's Q4 results and raised its target for shares to $31 from $24.
• Kennametal (KMT) was upgraded to sell from conviction sell at Goldman.
• Lifetime Brands (LCUT) was upgraded to outperform from market perform at Barrington.
• Volvo (VOLVY) was upgraded to overweight from underweight at JPMorgan.

MOST NOTEWORTHY: PetSmart, Plantronics and First Cash Financial were today's noteworthy downgrades:

• Wachovia downgraded PetSmart (NASDAQ: PETM) to Market Perform from Outperform, citing margin concerns following the company's lowered Q4 SSS guidance.
  
• Baird downgraded Plantronics (NYSE: PLT) to Neutral from Outperform citing weaker core business outlook.
  
• Jefferies downgraded shares of First Cash Financial (NASDAQ: FCFS) to Hold from Buy following the disappointing results, as they believe the company's auto lending business will create an earnings drag in 2008, limiting potential share price appreciation. Shares were also lowered to Market Perform from Outperform at JMP Securities.

OTHER DOWNGRADES:

• Lloyds TSB Group (NYSE: LYG) was lowered to Sell from Hold at ABN Amro.
  
• Northstar Neuroscience (NASDAQ: NSTR) was downgraded to Hold from Buy at Citigroup.
  
• UBS downgraded Volvo (OTC: VOLVY) to Neutral from Buy.