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MOST NOTEWORTHY: AstraZeneca, Massey Energy and Freeport McMoRan were today's noteworthy upgrades:
- Dresdner Kleinwort upgraded shares of AstraZeneca (NYSE: AZN) to Buy from Hold following the company's settlement with Ranbaxy on the Nexium patent.
- Massey Energy (NYSE: MEE) was raised to Overweight from Neutral at Massey Energy citing the company's leverage to metallurgical coal prices in 2009.
- Freeport McMoRan (NYSE: FCX) was upgraded at HSBC to Overweight from Neutral on valuation.
OTHER UPGRADES:
- Arcelor Mittal (NYSE: MT) was upgraded to Buy from Hold at Citigroup.
- Merrill upgraded Bernis (NYSE: BMS) to Neutral from Sell.
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