Analyst Upgrades

• Abercrombie & Fitch (ANF) to outperform from market perform at Wells Fargo.
• Trinity Industries (TRN) to buy from hold at BB&T.
• Cameron (CAM) to outperform from sector perform at RBC Capital.
• Expedia (EXPE) to positive from neutral at Susquehanna.
• Micron (MU) to buy from hold at Lazard Capital.

MOST NOTEWORTHY: Petrohawk Energy Corp (HAWK), Time Warner Cable Inc (TWC) and GameStop Corp (GME) were today's notable initiations:

• Jefferies initiated Petrohawk Energy Corp (NASDAQ: HAWK) with a Buy rating and $14.50 target, as the firm believes Petrohawk has the right assets to pursue the "acquire-exploit-self" strategy well.

• Bear Stearns started Time Warner Cable (NYSE: TWC) with a Peer Perform rating.

• GameStop Corp (NYSE: GME) was initiated with a Buy rating and $67 target at Nollenberger.

OTHER INITIATIONS:

• AG Edwards initiated Venoco, Inc (NYSE: VQ) with a Buy rating on valuation.

• Credit Suisse started CarMax, Inc (NYSE: KMX) with a Neutral rating and $55 target.

• Jefferies considers Ultra Petroleum Corp (AMEX: UPL) the most dominant company in the Pinedale Anticline, the nation's second largest natural gas field and they expect 2007 to be a pivotal year. The firm initiated Ultra Petroleum with a Buy rating and $64 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).