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Analyst upgrades: PCOP, ZUMZ, NSC and OCCX

MOST NOTEWORTHY: Pharmacopeia, Zumiez, Norfolk Southern and OccuLogix were today's noteworthy upgrades:

CIBC upgraded Pharmacopeia (NASDAQ: PCOP) to Sector Outperformer from Sector Performer, as they believe its lead cardiovascular drug DARA has the potential to become an important new therapy for hypertension and diabetic nephropathy.
Think Equity upgraded shares of Zumiez (NASDAQ: ZUMZ) to Buy from Accumulate to reflect the company's strong same store sales growth.
Norfolk Southern Corporation (NYSE: NSC) was upgraded to Equal Weight from Underweight at Lehman Brothers on valuation.
Caris upgraded shares of OccuLogix (NASDAQ: OCCX) to Above Average from Average, as they believe weakness in the stock creates a buying opportunity. The firm believes the stock has dropped due to concerns about the company's cash position, but thinks the current stock price underestimates the revenue potential of the company's assets.

OTHER UPGRADES:

BRE Properties (NYSE: BRE) was upgraded to Outperform from Neutral at Credit Suisse.
Bear Stearns raised Capital Product Partners (NASDAQ: CPLP) to Outperform from Peer Perform.
JP Morgan upgraded Celestica (NYSE: CLS) to Neutral from Underweight.
Stifel upgraded SL Green Realty (NYSE: SLG) to Buy from Hold.