MOST NOTEWORTHY: MGM Mirage (MGM), Motorola (MOT), Navteq (NVT), ExxonMobil (XOM) and Intel (INTC) were today's noteworthy upgrades:
- Lehman upgraded shares of MGM Mirage (NYSE: MGM) to Overweight from Equal-Weight on valuation as they believe the market is currently undervaluing the company's growth prospects.
- Motorola (NYSE: MOT) was raised to Market Perform from Underperform at JMP Securities on valuation.
- Following the acquisition of competitor Tele Atlas by TomTom, CIBC believes Navteq (NYSE: NVT) is well positioned to gain share, upgrading the stock to Sector Outperformer from Sector Performer, and believes Garmin (GRMN) should consider buying the company for its exclusive map content.
- AG Edwards believes the recent pullback in ExxonMobil (NYSE: XOM) has created a buying opportunity, upgrading shares to Buy from Hold.
- Intel (NASDAQ: INTC) was added to American Technology's Focus List following its recent sell-off...
OTHER UPGRADES:
- Cox Radio (NYSE: CXR) was upgraded to Outperform from Market Perform at Wachovia.
- PepsiCo (NYSE: PEP) was upgraded to Buy from Hold at Matrix USA.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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