MOST NOTEWORTHY: Some of today's most notable upgrades include SanDisk Corp (SNDK), CVS Corp (CVS), Dow Jones & Co (DJ) and DaVita Inc (DVA):
- SanDisk Corp (NASDAQ: SNDK) was upgraded to Buy from Neutral at UBS with a $53 target, as they believe Apple's (AAPL) new 16GB & 32GB iPod Video products will be NAND flash based. The firm expects SanDisk shares to perform as Apple's products ramp.
- Deutsche Bank upgraded shares of CVS Corp (NYSE: CVS) to Buy from Hold with a $42 target as they believe the bidding process for Caremark Rx, Inc (NYSE: CMX) is over, reducing concerns.
- Prudential upgraded shares of Dow Jones & Co (NYSE: DJ) to Neutral from Underweight to reflect valuation and the company's strong 2007 outlook.
- Piper Jaffray upgraded DaVita Inc (NYSE: DVA) to Outperform from Market Perform with a $59 target on valuation.
OTHER UPGRADES:
- Citigroup upgraded Adolor Corp (NASDAQ: ADLR) to Hold from Sell with a $10 target to reflect GlaxoSmithKline's (NYSE: GSK) plans for an additional advanced study of Entereg.
- Wachovia upgraded shares of Symmetry Medical Inc (NYSE: SMA) based on analysis that shows inventory levels have fallen at large-cap orthopedics firms while capital expenditures have stabilized, competitors are more upbeat on market outlook, and checks that indicate the supplier market has stabilized.
- Foundry Networks, Inc (NASDAQ: FDRY) was upgraded to Buy from Neutral at Bank of America.
- JP Morgan upgraded Alaska Communications Systems Group (NASDAQ: ALSK) to Outperform from Neutral on valuation.
- Goldman Sachs upgraded PPG Industries (NYSE: PPG) to Buy from Neutral with an $82 target.
- Merrill Lynch upgraded shares of Expedia, Inc (NASDAQ: EXPE) to Buy from Neutral with a $27 target.
- Matrix USA upgraded AMR Corp (NYSE: AMR) to Hold from Sell on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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