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MOST NOTEWORTHY: BP, LMI Aerospace and Smith & Nephew were among today's noteworthy upgrades:
- Credit Suisse upgraded BP (NYSE: BP) following the company's strong Q1 report.
- Wachovia upgraded LMI Aerospace (NASDAQ: LMIA) based on valuation and potential catalysts that include a production rate hike decision on the Boeing 737, an option on the 767 wing modification program, and Q1 earnings.
- Wachovia upgraded Smith & Nephew (NYSE: SNN) based on growth opportunities, strong reconstruction product cycle, and potential share gains, among other reasons.
OTHER UPGRADES:
- UBS upgraded James River Coal Co. (NASDAQ: JRCC) based on higher long-term coal prices.
- Merriman upgraded Denny's Corp. (NASDAQ: DENN) because they believe that franchise growth initiative will reinvigorate the franchisees and put the company in a better position to beat estimates over the next year. The firm thinks investors need to refocus on the company's core operating profitability.
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