MOST NOTEWORTHY: Lee Enterprises (LEE), The Pep Boys (PBY), Cumulus Media (CMLS), VeraSun Energy (VSE) and Acuity Brands (AYI) were today's more noteworthy upgrades: - Wachovia upgraded Lee Enterprises (NYSE: LEE) to Market Perform from Underperform on valuation.
- RBC Capital raised Pep Boys (NYSE: PBY) to Sector Perform from Underperform citing upside potential from its real estate monetization strategy.
- Cumulus Media (NASDAQ: CMLS) was upgraded to Hold from Sell at Citigroup based on the proposed buyout offer.
- VeraSun Energy (NYSE: VSE) was upgraded to Hold from Sell at Soleil based on the acquisition of three 110mgy ethanol projects from ASAlliance.
- Gabelli upgraded Acuity Brands (NYSE: AYI) to Hold from Sell following the company's announcement that it will pursue a tax-free spin-off of its specialty products business...
OTHER UPGRADES:
- Keefe Bruyette upgraded Delphi Financial Group (NYSE: DFG) to Outperform from Market Perform.
- RightNow Technologies (NASDAQ: RNOW) was upgraded to Outperform from Neutral at Credit Suisse.
- Pacific upgraded Secure Computing (NASDAQ: SCUR) to Outperform from Sector Perform.
- Lehman raised Xcel Energy (NYSE: XEL) to Equal Weight from Underweight.
- Stanford upgraded Amylin Pharmaceuticals (NASDAQ: AMLN) to Buy from Hold.
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