Analyst upgrades:

• Jefferies upgraded Aruba Networks (NASDAQ: ARUN) to Buy from Hold following the company's Q3 results to reflect improved visibility. The firm raised its target price to $6.50 from $3.
• Citigroup upgraded Mosaic (NYSE: MOS) and Potash (NYSE: POT) to Buy from Hold and Agrium (NYSE: AGU) to Hold from Sell as it believes stronger grain fundamentals more than offset China contract risk. The firm raised its target on Mosaic to $72 from $48, on Potash to $145 from $83 and on Agrium to $55 from $36.
• Fulton Financial (NASDAQ: FULT) Was upgraded to Market Perform from Underperform at Keefe Bruyette.
• Rio Tinto (NYSE: RTP) was raised to Neutral from Sell at Goldman.
• Noble Corp. (NYSE: NE) was upgraded at Deutsche Bank to Buy from Hold.

Analyst upgrades:

• UBS upgraded STMicroelectronics (NYSE: STM) to Neutral from Sell and Advanced Semiconductor (NYSE: ASX) to Buy from Neutral as it is seeing early signs of stabilization in the semiconductor industry.
  
• Jefferies upgraded VCA Antech (NASDAQ: WOOF) to Hold from Underperform as it does not see significant downside in the stock given the low expectations. It raised its target price to $22 from $15.
  
• Baird upgraded Sigma Designs (NASDAQ: SIGM) to Outperform from Neutral and raised its target to $16 from $9 as it expects revenue growth to resume in 2009 driven by IPTV end-demand.
• Goldman removed Dell (NASDAQ: DELL) from the Conviction Sell List.
  
• Portfolio Recovery (NASDAQ: PRAA) was raised to Market Perform from Underperform at Keefe Bruyette.
  
• Post Properties (NYSE: PPS) was upgraded at Deutsche Bank to Hold from Sell.

Analyst upgrades:

• UBS upgraded Kansas City Southern (NYSE:KSU) to Buy from Neutral and lowered its target to $26 from $35 citing valuation.
  
• Gabelli upgraded Media General (NYSE:MEG) to Hold from Sell because the firm thinks that Harbinger Capital has sold most of its shares in the company. As a result, the firm thinks the stock will be under less selling pressure.
  
• Eagle Bulk Shipping (NASDAQ:EGLE) was upgraded to Neutral from Underperform at Merrill Lynch.
• Centene (NYSE:CNC) was raised to Buy from Neutral at Goldman.
  
• Ralcorp (NYSE:RAH) was upgraded at Credit Suisse to Outperform from Neutral.
  
• Interpublic Group (NYSE:IPG) was upgraded to Equal Weight from Underweight at Morgan Stanley.

Analyst downgrades:

• Keefe Bruyette downgraded Healthcare Realty(NYSE:HR) to Market Perform from Outperform on concerns the company's development activity could be dilutive to near-term earnings.
  
• Citigroup downgraded Satyam (NYSE:SAY) to Sell from Buy as they believe the company's acquisition plans, and subsequent cancellation of the deals, will lessen investor confidence in the name.
  
• Oppenheimer downgraded Apple (NASDAQ:AAPL) to Perform from Outperform citing Steve Jobs cancellation of his annual key note speech at Macworld on January 6. The analyst said the unexpected announcement underscores Apple's long-term dependence on Job's health and its lack of succession plan.
• Baird downgraded Carlisle NYSE:CSL)to Neutral from Outperform.
  
• Gibraltar Industries (NASDAQ:ROCK) was downgraded at Piper Jaffray to Sell from Buy.
  
• NetApp (NASDAQ:NTAP) was cut to Accumulate from Buy at ThinkPanmure.

Analyst initiations:

• Citigroup believes the acquisition of Barr enhances Teva's (NASDAQ:TEVA) growth. The firm started shares with a Buy rating and $52 target.
  
• Suntrust initiated American Express (NYSE:AXP) with a Reduce citing slowing growth and greater-than-industry deterioration in credit quality.
  
• Roth Capital initiated The Buckle (NYSE:BKE) with a Hold rating and $17 target citing the deteriorating macro environment.
• Amazon.com (NASDAQ:AMZN) and Allegheny Tech (NYSE:ATI) were assumed with Neutral ratings and targets of $52 and $26, respectively, at UBS.
  
• Digital Realty (NYSE:DLR) was initiated at Piper Jaffray with a Buy rating.
  
• Mylan (NYSE:MYL) was started with an Overweight rating and $15 target at JP Morgan.

MOST NOTEWORTHY: Och-Ziff Capital, FactSet, Forest Labs and certain optical component maker and provider stocks were today's noteworthy initiations.

• Och Ziff Capital Management Group (NYSE: OZM) was initiated with an Overweight by JP Morgan, which believes the company should be able to better sustain and build its earnings power than traditional asset managers in the challenging market conditions.
  
• JP Morgan started FactSet Research Systems (NYSE: FDS) with a Neutral, as the firm is looking for a better entry point given the probability of an upcoming financial data and analytics spending slowdown.
  
• Forest Labs Inc. (NYSE: FRX) was initiated with a Buy by Roth Capital, which cited Lexapro and the company's near-term EPS as reasons for the rating.
  
• Thomas Weisel initiated optical component maker and provider companies Avanex Corp. (NASDAQ: AVNX), Bookham Inc. (NASDAQ: BKHM), Finisar (NASDAQ: FNSR), Optium Corp. (NASDAQ: OPTM), Opnext Inc. (NASDAQ: OPXT), and Oplink Communications Inc. (NASDAQ: OPLK) with Market Weight ratings, as the firm expects the unfavorable industry structure to create margin volatility.

OTHER INITIATIONS:

• JP Morgan assumed coverage of American Express Co. (NYSE: AXP) with an Overweight rating.
• Morgan Stanley initiated Eagle Bulk Shipping (NASDAQ: EGLE) with an Equal Weight.

MOST NOTEWORTHY: International Paper, Autodesk, Oracle and Vistaprint were today's noteworthy upgrades:

• Citigroup upgraded shares of International Paper (NYSE: IP) to Buy from Hold on valuation and their belief that recent declines in the dollar will support pulp, paper and paperboard prices going forward.
  
• Autodesk (NASDAQ: ADSK) was upgraded to Buy from Hold at Jefferies after their proprietary survey yielded positive data points going into Q3. They also raised their estimates due to currency. Broadpoint raised its rating on Oracle to Buy from Neutral on valuation following the recent underperformance.
  
• Oracle (NASDAQ: ORCL) was also upgraded to Sector Outperformer from Sector Performer at CIBC, as they believe the company's growing product portfolio, improving margins and successful acquisition strategy should continue to drive double-digit EPS gains.
  
• William Blair added Vistaprint (NASDAQ: VPRT) to its Current Better Values List. The firm believes the company has a large market opportunity and expects its business momentum to continue. They view the recent weakness as a buying opportunity.

OTHER UPGRADES:

• Merrill Lynch upgraded Alcatel-Lucent (NYSE: ALU) to Neutral from Sell.
  
• UBS upgraded Eagle Bulk Shipping (NASDAQ: EGLE) to Buy from Neutral.
  
• Affiliated Managers Group (NYSE: AMG) was upgraded to Outperform from Market Perform at Wachovia.
  
• Banc of America upgraded Andersons (NASDAQ: ANDE) to Buy from Neutral.

MOST NOTEWORTHY: The ocean shippers sector, Tesoro, Siemens AG and MGI Pharma were today's noteworthy upgrades:

• Bear Stears upgraded the ocean shippers sector to Market Weight from Market Underweight, citing higher day rates in the dry bulk market. The firm sees potential upside for dry bulk firms Eagle Bulk Shipping (NASDAQ: EGLE), Quintana Maritime Limited (NASDAQ: QMAR) and Ultrapetrol Ltd (NASDAQ: ULTR).
  
• Bernstein raised shares of Tesoro Corporation (NYSE: TSO) to Outperform from Market Perform and expects a rebound in West Coast refining margins.
  
• ING upgraded shares of Siemens AG (NYSE: SI) to Buy from Hold on valuation and the possibility the company may exit businesses.
  
• MGI Pharma (NASDAQ: MOGN) was upgraded at JP Morgan to Overweight from Neutral, citing expectations for a strong Q3, Aloxi re-acceleration, Dacogen growth, and Auqavan opportunity.

OTHER UPGRADES:

• UBS upgraded shares of Agnico-Eagle (NYSE: AEM) to Buy from Neutral.
  
• Banc of America upgraded Everest RE Group (NYSE: RE) and PartnerRe (NYSE: PRE) to Buy from Neutral.
  
• Calamos Asset Management (NASDAQ: CLMS) was upgraded to Neutral from Sell at Goldman Sachs.

If you're looking to ship bulk items like fertilizer, iron ore, coal, grain, or other items, Eagle Bulk Shipping, Inc. (NASDAQ: EGLE) is probably a good choice. This company just went public in the summer of 2005 and has been growing steadily ever since, with its stock price also rising steadily since early 2006. The results for 2006 are now in, and they look excellent: Revenue and gross profit nearly doubled, and net income was up 500%.

EGLE may be new, but I don't think this company is any flash in the pan. Since the end of 2006, it's added three more vessels to its fleet of 16; it bought used ships at a good price, and it is clearly dedicated to growing in a smart way that maximizes profits. As it continues to grow, its margins should improve with economies of scale. The new vessels will be delivered by midway through the year, which should make 2007 another year of impressive growth.

The management has shown itself eager to share these results with investors, and they are paying a very solid dividend of $.51, which makes for a yield of 9.7%. It's hard to imagine going wrong with that kind of bonus!

There was just a leadership shakeup, when it was announced on Wednesday that two members of the board of directors were stepping down. EGLE has named their replacements; one of them is the brother of CEO Sophocles Zoullas. But given how well things have been going so far, I'm not ready to start panicking simply because two board members have left.

Type of stock: A new and rapidly-growing shipping company with an excellent dividend.

Price target: EGLE is trading at $21.74, near its 52-week high, but the stock price has grown steadily for the past 16 months, and I think it will continue. I'd get in now, and watch the stock keep climbing as the new vessels deliver higher revenues.

Hilary Kramer is a financial editor and money coach for AOL and an authority on investing. Visit her at www.hilarykramer.com.