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Analyst upgrades: PCOP, ZUMZ, NSC and OCCX

MOST NOTEWORTHY: Pharmacopeia, Zumiez, Norfolk Southern and OccuLogix were today's noteworthy upgrades:
  • CIBC upgraded Pharmacopeia (NASDAQ: PCOP) to Sector Outperformer from Sector Performer, as they believe its lead cardiovascular drug DARA has the potential to become an important new therapy for hypertension and diabetic nephropathy.
  • Think Equity upgraded shares of Zumiez (NASDAQ: ZUMZ) to Buy from Accumulate to reflect the company's strong same store sales growth.
  • Norfolk Southern Corporation (NYSE: NSC) was upgraded to Equal Weight from Underweight at Lehman Brothers on valuation.
  • Caris upgraded shares of OccuLogix (NASDAQ: OCCX) to Above Average from Average, as they believe weakness in the stock creates a buying opportunity. The firm believes the stock has dropped due to concerns about the company's cash position, but thinks the current stock price underestimates the revenue potential of the company's assets.
OTHER UPGRADES:

Analyst downgrades 7-02-07: NFS, PWAV, SNDK, TGT and UNCA

MOST NOTEWORTHY: SanDisk Corp (SNDK), Nationwide Financial Services (NFS), Unica Corp (UNCA), International Paper Co (IP) and the Apartment REIT sector topped the day's noteworthy downgrades:
  • CIBC cut SanDisk Corp (NASDAQ: SNDK) to Sector Performer from Outperformer on valuation.
  • Ferris Baker cut Unica Corp (NASDAQ: UNCA) to Sell from Hold following the company's announcement that it has dismissed auditors Ernst & Young. Montgomery downgraded Unica to Hold from Buy on valuation.
  • International Paper (NYSE: IP) was downgraded to Neutral from Outperform at Credit Suisse on valuation.
OTHER DOWNGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 12, 2009: 03:25 AM

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