Analyst upgrades:

• Oppenheimer upgraded Viacom (NYSE: VIA, VIA.B) to Outperform from Perform following the better-than-expected Q3 results to reflect an improving outlook for all the company's segments. The firm raised its target on shares to $36.
• Deutsche Bank upgraded C.R. Bard (NYSE: BCR) to Buy from Hold on expectations the company's underlying growth trends will improve. The firm raised its target on shares to $88 from $78.
• Wells Fargo upgraded Cognizant (NASDAQ: CTSH) to Outperform from Market Perform. The firm upgraded the stock after Cognizant reported better-than-expected Q3 results.
• Plug Power (NASDAQ: PLUG) was upgraded to Sector Perform from Underperform at RBC Capital.
• Digital River (NASDAQ: DRIV) was upgraded to Buy from Hold at Collins Stewart and to Overweight from Neutral at Piper Jaffray.
• Steris (NYSE: STE) was upgraded to Overweight from Equal Weight at Stephens.

• Baird upgraded Optimer Pharm (NASDAQ: OPTR) to Outperform from Neutral and raised its target to $13 from $8 citing the decidedly positive data from the OPT-80 trial.
  
• Banc of America upgraded Quest Diagnostics (NYSE: DGX) to Buy from Neutral on valuation and believes management has set expectations well.
  
• Credit Suisse views Jacobs Engineering (NYSE: JEC) as a high quality name given the quality of management, execution track record, and relationship business model. Shares were upgraded to Outperform from Neutral.
• Horizon Lines (NYSE: HRZ) was upgraded to Overweight from Equal Weight at Stephens.
  
• Bancolombia SA (NYSE: CIB) was raised to Buy from Neutral.
  
• Great Lakes Dredge (NASDAQ: GLDD) was upgraded to Buy from Hold at Morgan Joseph.

Analyst upgrades:

• Citigroup upgraded shares of Sovereign Bancorp (NYSE: SOV) to Buy from Hold on their belief Sovereign will merge with Banco Santander (NYSE: STD) according to the terms on their October 13 agreement.
  
• Jefferies upgraded Whole Foods (NASDAQ: WFMI) to Hold from Underperform on valuation as they believe the capital infusion from Leonard Green limits downside risk. The company's target was raised to $11 from $9.50.
  
• Banc of America upgraded Max Capital (NASDAQ: MXGL) to Buy from Neutral on valuation, the company's strategic changes to lower earnings volatility and their belief it is well positioned to benefit from an improved P&C marketplace.
• Qimonda (NYSE: QI) was upgraded to Neutral from Underperform at Cowen.
  
• Health Net (NYSE: HNT) was raised to Neutral from Sell at Goldman.
  
• Parkway Properties (NYSE: PKY) was lifted to Market Perform from Underperform at Wachovia.