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MOST NOTEWORTHY: Google, Ross Stores and Novartis were today's noteworthy upgrades:
- Jefferies upgraded Google (NASDAQ: GOOG) to Buy from Hold to reflect the company's "impressive" improvements in monetization in Q1, no signs of weakness from the economic downturn and upside potential from display, video and mobile.
- Lehman upgraded Ross Stores (NASDAQ: ROST) to Overweight from Equal Weight and believes the company's 2008 guidance of 8-9% sales growth and up to 20% bps in margin expansion will prove conservative.
- Morgan Stanley upped Novartis (NYSE: NVS) to Overweight from Underweight on valuation and expectations for positive news flow from the company's vaccine division.
OTHER UPGRADES:
- JP Morgan upgraded Bladex to Neutral from Underweight.
- William Blair raised Watsco (NYSE: WSO) to Outperform from Market Perform.
- SunTrust (NYSE: STI) was upgraded at Baird to Neutral from Underperform.
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