Analyst upgrades:

• Goldman upgraded CTC Media (NASDAQ: CTCM) to Buy from Neutral on a better outlook for European Media names and raised its target on shares to $17.60 from $12.
• Morgan Joseph upgraded Movado (NYSE: MOV) to Buy from Hold after the company reported better-than-expected Q2 results. The firm set a $16 target on the stock.
• Needham upgraded LTX Credence (NASDAQ: LTXC) to Strong Buy from Hold following the company's Q4 results with a $3 price target.
• Canon (NYSE: CAJ) was upgraded to Outperform from Underperform at Macquarie.
• Whitney Holding (NASDAQ: WTNY) was upgraded to Buy from Neutral at SunTrust.
• Gafisa SA (NYSE: GFA) was upgraded to Overweight from Equal Weight at Morgan Stanley.

• Stephens upgraded The Andersons (NASDAQ: ANDE) to Overweight from Equal Weight on expectations the company is benefiting from good space income opportunities and better ethanol profitability. The firm raised its target price to $31 from $28.
  
• Jefferies upgraded NRG Energy (NYSE: NRG) to Buy from Hold as the analyst believes Exelon (NYSE: EXC) will have to materially raise its offer to close the acquisition. The firm raised its target on shares to $25 from $22.50.
  
• FBR Capital upgraded FMC Technologies (NYSE: FTI) to Outperform from Market Perform after meeting with management to reflect the company's 2011 growth potential. The firm raised its target on shares to $51.
• J. Sainsbury (OTC: JSAIY) was upgraded to Overweight from Equal Weight at Morgan Stanley.
  
• SVB Financial (NASDAQ: SIVB) and Fulton Financial (NASDAQ: FULT) were upgraded to Outperform from Sector Perform at RBC Capital.