• Wachovia upgraded Legg Mason (NYSE: LM) to Market Perform from Underperform citing valuation, new CEO change, and reduced Citigroup (NYSE: C) ownership.
  
• Bear upgraded Panacos Pharma (NASDAQ: PANC) to Outperform from Peer Perform citing renewed confidence in Bevirimat, an HIV inhibitor, following analysis of Phase IIb data. The firm expects a partnership for Bevirmat to be the next catalyst.
  
• Deutsche Bank raised PepsiAmericas (NYSE: PAS) to Buy from Hold shares on valuation, as they believe the recent weakness is overdone.

• Fannie Mae (NYSE: FNM) was raised to Equal Weight from Underweight at Morgan Stanley.
  
• Friedman Billings added Great Atlantic & Pacific Tea (NYSE: GAP) to its FBR Top Picks List.
  
• Jabil Circuit (NYSE: JBL) was upgraded to Neutral from Sell at Merrill Lynch.

Analyst upgrades: Legg Mason, Panacos Pharma, PepsiAmericas originally appeared on BloggingStocks on Wed, 05 Mar 2008 11:46:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Kohl's was downgraded to Neutral from Outperform at Robert W Baird due to difficult comps, less benefit from key 2006 drivers and warmer weather.
  
• Juniper Networks was downgraded to Sector Performer from Sector Outperformer at CIBC World Markets as there is limited share upside due to competition from the Redback Networks (NASDAQ:RBAK) /Ericsson (NASDAQ:ERIC) combination and a reduced possibility of an acquisition premium.
  

• Panacos Pharmaceuticals (NASDAQ:PANC) was downgraded at Bear Stearns, Think Equities, RBC Capital Markets, Leerink Swann and Caris & Co. after the company released disappointing Phase II Bevirmat data.

Analyst downgrades: 12-20: Kohl's downgraded to Neutral originally appeared on BloggingStocks on Wed, 20 Dec 2006 12:01:00 EST. Please see our terms for use of feeds.