MOST NOTEWORTHY:

• HSBC upgraded AU Optronics (NYSE: AUO) to Overweight from Neutral following the company's Q2 results.

• Jefferies raised RightNow Technology (NASDAQ: RNOW) to Buy from Hold, believing low expectations have created a buying opportunity and that fundamentals remain intact.

• JP Morgan upgraded shares of Alaska Air (NYSE: ALK) to Overweight from Netural on valuation.

• Citigroup upgraded Nordstrom (NYSE: JWN) to Buy from Hold on valuation; they consider the recent pullback a buying opportunity.

• Citigroup upgraded Gap (NYSE: GPS) to Buy from Hold from valuation and expects for better execution and cost savings in 2008 under the new CEO.

• Credit Suise upgraded Old Dominion Freight Line (NASDAQ: ODFL) to Outperform from Neutral on valuation...

• Merriman upgraded MicroTune (NASDAQ: TUNE) to Buy from Neutral.

• Citirgroup raised Aeropostale (NYSE: ARO) to Hold from Sell.

• Merrill upgraded Cathay General (NASDAQ: CATY) to Neutral from Sell.

• The NYSE Euronext (NYSE: NYX) was upgraded to Neutral from Sell.

• Wachovia raised shares of Wendy's (NYSE: WEN) to Market Perform from Underperform.

Analyst upgrades 7-27-07: GPS, JWN, NYX and ODFL originally appeared on BloggingStocks on Fri, 27 Jul 2007 10:55:00 EST. Please see our terms for use of feeds.