Much of the attention this week will no doubt be on how the impending General Motors (NYSE: GM) bankruptcy will shake out, as well as the usual economic concerns: Has the housing market bottomed? Will oil prices keep rising? Is the employment situation getting any better? And so on (see highlights of the economic calendar below).

What probably won't get much attention are quarterly earnings, as the earnings season for this quarter winds down. But there are a few reports that analysts surveyed by Thomson Reuters have high hopes for.

Analyst upgrades:

• UBS upgraded Target (NYSE: TGT) to Buy from Neutral and raised its price target to $52 from $45 citing reduced inventories, some credit stability, and an improved back-to-school period.
• Credit Suisse said concerns regarding Safeway's (NYSE: SWY) price position are overblown and that earnings risk is limited. The firm upgraded shares to Outperform from Neutral and raised the target price to $25 from $22.
• Oppenheimer upgraded Canadian Solar (NASDAQ: CSIQ) to Outperform from Perform as it believes the story is underappreciated following the recent sector rally. The firm has a $14 price target on the stock.
• CME Group (NASDAQ: CME) was upgraded to buy from Neutral at Goldman.
• Freeport McMoRan (NYSE: FCX) was upgraded to Overweight from Neutral at JP Morgan.
• Gilead Sciences (NASDAQ: GILD) was upgraded to Buy from Neutral at FTN Equity.

Analyst upgrades:

• Janney Montgomery upgraded Aqua America (NYSE: WTR) to Buy from Neutral on valuation, viewing the recent weakness as a buying opportunity. The firm has a $19 target on the stock.
• UBS upgraded Gildan Activewear (NYSE: GIL) to Buy from Neutral due to customer Broder's improved liquidity and the improved outlook for margins.
• RBC Capital upgraded State Street (NYSE: STT) to Top Pick from Outperform and raised its target to $55 from $40. The analyst said the $2B capital raise addresses TCE ratio concerns and large unrealized losses in the investment portfolio.
• Sherwin-Williams (NYSE: SHW) was upgraded to Overweight from Neutral at JP Morgan.
• Advance Auto Parts (NYSE: AAP) was upgraded to Buy from Underperform at Banc of America/Merrill.
• M&T Bank (NYSE: MTB) was upgraded to Outperform from Market Perform at Bernstein.

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances and related services. The firm operates 97 southeastern and midwestern U.S. stores, under the names hhgregg and Fine Lines. It also operates a retail Web site. Offerings include notebook computers, televisions, DVD recorders, refrigerators, ranges, dishwashers, freezers, washers, dryers and Serta mattresses. Competitors include Best Buy (NYSE: BBY), Circuit City Stores (NYSE: CC) and Wal-Mart (NYSE: WMT).

The company pleased investors earlier in the month, when it reported solid Q4 results and offered FY09 EPS guidance in-line with the consensus Street view. Management attributed success to increased sales of higher-priced video and major appliance products. Plans call for opening 15 to 17 stores, during the new fiscal year.

MOST NOTEWORTHY: Cisco Systems, NYSE Euronext, Nasdaq and Cognicase were today's noteworthy initiations:

• Friedman Billings believes Cisco Systems (NASDAQ: CSCO) is well-positioned to take advantage of "Business 2.0" applications and to gain share in a slower economic environment. The firm initiated shares with an Outperform rating and $31 target.
  
• NYSE Euronext (NYSE: NYX) and Nasdaq (NASDAQ: NDAQ) were assumed with a Neutral rating and $72 target and $44 target, respectively, at UBS. The firm cited increasing competition and moderating volumes.
  
• Deutsche Bank believes Cognicase (COGI) is one of the few carriers offering high-capacity commercial Internet access to enterprise customers at a discount to nearly all of its competitors. Shares were initiated with a Buy rating and $23 target.

OTHER INITIATIONS:

• China Housing (OTCBB: CHLN) was initiated at Merriman with a Buy rating.
  
• Goldman started Juniper (NASDAQ: JNPR) with a Market Perform rating and $27 target.
  
• Suntrust initiated hhgregg (NYSE: HGG) with a Buy rating and $16 target.

Hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances and related services. The firm operates 85 southeastern and midwestern U.S. stores, under the names hhgregg and Fine Lines. It also operates a retail Web site. Offerings include notebook computers, televisions, DVD recorders, refrigerators, ranges, dishwashers, freezers, washers, dryers and Serta mattresses. Competitors include Best Buy (NYSE: BBY) and Circuit City (NYSE: CC).

The company pleased investors earlier in the month, when it reported fiscal Q3 EPS of 45 cents and revenues of $390.4 million. Analysts had been expecting 40 cents and $389.9 million. Management also announced plans to open seven new stores in Q4 and guided FY08 EPS to $0.95-$1.03 ($1.00 consensus).

With the rising wealth in America, there are those who just want quality service -- and are willing to pay for it.

That's the strategy behind hhgregg, which is a specialty retailer of premium video and audio products. Now, the company wants to tap the IPO market.

The company got its start 52 years ago and has since built a network of 77 stores in Ohio, Indiana, Georgia, Tennessee, Kentucky, North Carolina, South Carolina and Alabama. On average, a store is 30,000 square feet and carries more than 100 models of flat panel TVs and 400 models of appliances.

There's a big emphasis on customer service, which helps with pricing as well as referrals and repeat business. Yes, the workforce undergoes lots of training and compensation is based on performance. Other key services include same-day delivery and home-installation.

Last year, the company increased revenues by 12.7% to $997.4 million and ramped EBITDA by 35.9% to $57.3 million.

The lead underwriters include Credit Suisse (NYSE: CS) and Lehman Brothers (NYSE: LEH). The proposed ticker symbol is "HGG." You can find the IPO filing at the SEC website.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.