Analyst upgrades:

• UBS upgraded Apple (NASDAQ: AAPL) to Buy from Neutral and raised its target to $265 from $170, citing higher iPhone expectations, new partnerships, and likely upward revisions to Street estimates driven by gross margins.
• Wells Fargo upgraded Comcast (NASDAQ: CMCSA) to Outperform from Market Perform. The firm views a possible deal between end General Electric's (NYSE: GE) NBC Universal positively, as it thinks NBC will provide higher-margin growth for Comcast.
• Janney Montgomery upgraded Michael Baker (AMEX: BKR) to Buy from Neutral after the company completed the sale of its Energy business. The firm raised its target on shares to $46 from $40.
• Jefferies assumed coverage of Endo Pharma (NASDAQ: ENDP) and upgraded the stock to Buy from Hold. The firm cites valuation, a strong base business, and solid cash flow for the upgrade, and has a $30 target price on shares.
• Marten Transport (NASDAQ: MRTN) was upgraded to Overweight from Equal Weight at Stephens.
• U.S. Bancorp (NYSE: USB) was upgraded to Outperform from Market Perform at Keefe Bruyette.

Analyst upgrades:

• Kaufman Bros. assumed coverage of Ctrip.com (NASDAQ: CTRP) and upgraded the stock to Buy from its previous Hold rating. The firm thinks the company's Q2 targets are achievable while 20%-plus growth should return in Q3 as comps ease.
• Janney Montgomery upgraded Cogdell Spencer (NYSE: CSA) to Neutral from Sell as it believes last night's capital raise removes risk. The firm has a $4.50 target on shares.
• Deutsche Bank upgraded Map Pharmaceuticals (NASDAQ: MAPP) to Buy from Hold following the positive Levadex Phase 3 results as it believes the migraine drug could generate peak sales of $250M in the U.S. if approved. Deutsche raised its target on shares to $12 from $5.
• Northwest Natural Gas (NYSE: NWN) was raised to Buy from Neutral at UBS.
• Petro-Canada (NYSE: PCZ) was upgraded to Overweight from Equal Weight at Barclays.
• Alcatel-Lucent (NYSE: ALU) was upgraded to Add from Reduce at WestLB.