Analyst Upgrades

• Cree (CREE) and Rubicon Technology (RBCN) to buy from neutral at Merriman.
• Children's Place (PLCE) to outperform from market perform at BMO Capital.
• Lockheed Martin (LMT) to neutral from underperform at BofA/Merrill.
• Copano Energy (CPNO) to outperform from market perform at Morgan Keegan.
• Motorola Mobility (MMI) to neutral from reduce at Nomura.
• Parker-Hannifin (PH) to buy from hold at KeyBanc.
• Akamai (AKAM), ShoreTel (SHOR), AMB Property (AMB) and ProLogis (PLD) to buy from hold at Stifel Nicolaus.

Analyst Calls

• Medtronic (MDT) to buy from neutral and 1-800-Flowers.com (FLWS) to neutral from sell at Goldman.
• CarMax (KMX) to outperform from perform at Oppenheimer.
• Points International (PTSEF) to buy from neutral at Merriman.
• Nokia (NOK) to market perform from underperform at Morgan Keegan.
• Amdocs (DOX) to overweight from equal weight at Barclays.
• Western Alliance (WAL) to outperform from sector perform at RBC Capital.
• Carbo Ceramics (CRR) to outperform from market perform at BMO Capital.
• Rackspace (RAX) to buy from hold at Benchmark Co.
• Brinker (EAT) to equal weight from underweight at Morgan Stanley.

Analyst Upgrades

• Heico (HEI) to outperform from market perform at FBR Capital.
• Eaton (ETN), Silgan Holdings (SLGN), MYR Group (MYRG) and Shaw Group (SHAW) to outperform from neutral at RW Baird.
• Infosys (INFY) to buy from Neutral at Nomura.
• Isle of Capri (ISLE) to buy from neutral at Merriman.
• NovaGold (NG) to sector perform from underperform at RBC Capital.
• CarMax (KMX) and Rockwell Collins (COL) to outperform from neutral at Credit Suisse.
• DHT Holdings (DHT) to overweight from neutral at JPMorgan.
• Cabot Oil & Gas (COG) to overweight from underweight at Morgan Stanley.

Analyst Upgrades

• Large Cap Pharmaceuticals sector upgraded to Overweight at Wells Fargo.
• Archer Daniels (ADM) upgraded to Outperform from Neutral at Credit Suisse.
• Cypress Semi (CY) upgraded to Buy from Neutral at UBS.
• MFA Financial (MFA) upgraded to Buy from Hold at Jefferies.
• Blackstone (BX) upgraded to Buy from Hold at Jefferies.
• Comerica (CMA) upgraded to Hold from Sell at Citigroup.
• Dollar Tree (DLTR) upgraded to Overweight from Equal Weight at Morgan Stanley.
• NuVasive (NUVA) upgraded to Outperform from Market Perform at Leerink.
• Cogdell Spencer (CSA) upgraded to Buy from Hold at Jefferies.
• Hersha Hospitality (HT) upgraded to Hold from Underperform at Jefferies.
• G&K Services (GKSR) upgraded to Outperform from Neutral at RW Baird.
• Graham Packaging (GRM) upgraded to Buy from Neutral at Goldman.
• Shaw (SJR) upgraded to Neutral from Underperform at BofA/Merrill.

Analyst Upgrades

• SuperValu (SVU) to buy from hold at Hapoalim.
• Constellation Energy (CEG) to buy from hold at Citigroup.
• Doral Financial (DRL) to neutral from sell and ABB (ABB) to buy from neutral at Sterne Agee.

Analyst Downgrades

• American Eagle (AEO) to neutral from buy at SunTrust.
• Tenet Healthcare (THC) to market perform from outperform at Wells Fargo.

Analyst Upgrades

• Barclays upgraded Western Digital (WDC) to overweight from equal weight.
• LDK Solar (LDK) was upgraded to buy from hold at Needham.
• Legg Mason (LM) was upgraded to outperform from neutral at Macquarie.
• Agilent (A) was upgraded to buy from hold at Stifel Nicolaus.
• Wells Fargo upgraded Dean Foods (DF) to outperform from market perform and Developers Diversified (DDR) to market perform from underperform.
• Deutsche Bank also upgraded Developers Diversified, to buy from hold.
• Northrop Grumman (NOC) was upgraded to sell from conviction sell at Goldman.
• MYR Group (MYRG) was upgraded to buy from hold at BB&T.

Analyst Upgrades

• Best Buy (BBY) was upgraded to top pick from outperform at RBC Capital, as the firm thinks the company's valuation is inexpensive while it will perform well during the holiday season.
• Credit Suisse upgraded CF Industries (CF) to outperform from neutral, citing favorable fundamentals in nitrogen and phosphate markets.
• Canadian Solar (CSIQ) was raised to buy from hold by Jefferies, which cited expectations for higher selling prices next year and cost savings from sourcing more components internally.
• BMO Capital upgraded RC2 Corp. (RCRC) to outperform from market perform as the firm believes that RC2's baby products are performing better than previously expected.
• Ericsson (ERIC) was upgraded to neutral from underperform at BofA/Merril.
• ProLogis (PLD) was upgraded to buy from hold at Stifel Nicolaus.
• Constellation Energy (CEG) was upgraded to outperform from neutral at Macquarie.

Option traders appear to be setting up for a bullish move on ProLogis (PLD). Traders plowed into 1,067 new call option contracts -- 2.81 times the average volume -- on the stock on Thursday. And we know that traders were eager to get into this trade because 95% of the trades came in on the ask price.

ProLogis looks like it formed a bottom in early July and has since formed a higher low in August. The stock closed Thursday at $10.92, down 0.18% during the past month.

Analyst upgrades:

• UBS upgraded Salesforce.com (CRM) to Buy from Neutral based on positive feedback on the Chatter product and increasing confidence the company can beat FY11 guidance. The firm raised its price target to $111 from $90.
• Leerink upgraded Vivus (VVUS) to Outperform from Market Perform. The firm believes Qnexa issues raised by the FDA are labeling and marketing issues, and not approval issues. The firm expects a positive panel vote for Qnexa.
• Goldman upgraded AK Steel (AKS) to Buy from Netural citing lower iron ore prices. The firm has a $17 price target on the stock.
• Kinder Morgan Energy (KMP) was upgraded to Equal Weight at Morgan Stanley.
• Shire (SHPGY) was upgraded to Outperform from Neutral at Credit Suisse.
• Canadian National (CNI) was upgraded to Outperform from Market Perform at Raymond James.

Analyst Upgrades

• Oppenheimer upgraded Hubbell (HUB.B) to outperform from perform to reflect the company's improving operations, margin expansion and valuation. The firm raised its target price on shares to $53 from $51.
• UBS upgraded Weingarten Realty (WRI) and Taubman Centers (TCO), Boston Properties (BXP), ProLogis (PLD) and AMB Property (AMB) to neutral from sell and SL Green Realty (SLG) to buy from neutral, citing the recent correction in the group.
• Benchmark Co. upgraded Time Warner (TWX) to buy from hold on expectations the company is positioned for steady, sustainable growth as advertising demand rebounds. The firm has a $35 price target on shares.
• Eastman Chemical (EMN) was upgraded to overweight from neutral at JPMorgan.
• Constellation Energy (CEG) was upgraded to overweight from equal weight at Barclays.
• Noble Corporation (NE) was upgraded to outperform from market perform at FBR Capital.

Analyst upgrades:

• FBR Capital upgraded U.S. Bancorp (NYSE: USB) and New York Community Bancorp (NYSE: NYB) to Market Perform from Underperform to reflect a new valuation framework. The firm raised its target on U.S. Bancorp to $21 from $14 and on New York Community Bancorp to $10 from $9.
• Stephens upgraded Insulet (NASDAQ: PODD) to Overweight from Equal Weight to reflect the company's top-line growth prospects and reasonable expectations. The firm raised its target on shares to $14 from $8.
• Baird upgraded Athenahealth (NASDAQ: ATHN) to Outperform from Neutral and raised its target to $46 from $37 based on expectations for revenue and gross margin expansion, and relative valuation.
• Broadcom (NASDAQ: BRCM) was upgraded to Overweight from Equal Weight at Barclays.
• Phillips-Van Heusen (NYSE: PVH) was upgraded to Buy from Neutral at BofA/Merrill.
• Reliant Energy (NYSE: RRI) was upgraded to Conviction Buy from Neutral at Goldman.

Analyst upgrades:

• Deutsche Bank upgraded shares of Camden Property (NYSE: CPT) to Hold from Sell on valuation and believes the company has improved its liquidity position. Despite the upgrade, the firm lowered its target price to $21 from $25.
  
• Goldman added Best Buy (NYSE: BBY) to its Conviction Buy List as it is now the sole dominant retailer in consumer electronics and expects Best Buy's margins to benefit from Circuit City's demise.
  
• Molson Coors (NYSE: TAP) was upgraded to Overweight from Neutral at JP Morgan as it finds the valuation attractive and sees a number of long-term fundamental positive catalysts. The firm has a $47.50 target on shares.
• United Rentals (NYSE: URI) and Illinois Tool Works (NYSE: ITW) were upgraded to Buy from Neutral at UBS.
  
• ProLogis (NYSE: PLD) was upgraded to Buy from Neutral at Banc of America/Merrill.

Analyst downgrades:

• Oppenheimer downgraded Global Traffic Network (NASDAQ: GNET) to Perform from Outperform following the company's weaker than expected Q2 results and lowered its target price to $6.25 from $7.
  
• Friedman Billings downgraded BankAtlantic (NYSE: BBX) to Underperform from Market Perform to reflect the deterioration of both the company's credit and capital in Q4. The firm lowered its target price to $1 from $5.
  
• RBC Capital downgraded AbitibiBowater (NYSE: ABH) to Underperform from Sector Perform and lowered its target to 50 cents from $2.00 following the company's debt refinancing announcement.
• Lions Gate (NYSE: LGF) was cut to Market Weight from Overweight at Thomas Weisel.
  
• Ctrip.com (NASDAQ: CTRP) was downgraded at Goldman to Sell from Neutral.
  
• Molson Coors (NYSE: TAP) was downgraded to Neutral from Buy at Banc of America/Merrill.

Analyst initiations:

• Oppenheimer initiated Chattem (NASDAQ: CHTT) with an Outperform rating and believes the company's business model is well suited for the current uncertain consumer environment. The firm has an $80 target on the stock.
• Freeport McMoRan (NYSE: FCX) was initiated at BMO Capital with a Market Perform rating and $30 target.
  
• Anglo American (NASDAQ: AAUK) was assumed with a Sell rating at Societe Generale.
  
• Yamana Gold (NYSE: AUY) was started at UBS with a Buy rating.

Analyst upgrades:

• CIBC upgraded Sunlife Financial (NYSE:SLF) to Sector Outperformer from Sector Performer.
  ProLogis (NYSE:PLD) was raised to Outperform from Underperform at Wachovia.

Analyst downgrades:

• Friedman Billings downgraded shares of Cameco (NYSE:CCJ) to Market Perform from Outperform and lowered their target to $13 from $48 to reflect their lower uranium price outlook.
  
• B. Riley downgraded S&T Bancorp (NASDAQ:STBA) to Neutral from Buy on valuation and asset quality concerns.
  
• Gabelli downgraded KV Pharmaceutical (NYSE:KV.A) to Hold from Buy after the company said it was indefinitely suspending distribution of all tablet products due to manufacturing and quality assurance concerns.
  
• AMAG Pharma (NASDAQ:AMAG) was cut to Underperform from Neutral at Merrill Lynch.

Analyst upgrades:

• Baird upgraded Adtran (NASDAQ: ADTN) to Outperform from Neutral based on valuation, new product cycles, and confidence in 2H08 results.
  
• Morgan Stanley upgraded shares of Repsol (NYSE: REP) to Overweight from Equal Weight as they believe the potential sale to Sacyr Vallehermoso SA could lead to a restructuring.
  
• Stanford lifted National Oilwell Varco (NYSE: NOV) to Buy from Hold citing valuation. In addition, the firm, which set a target of $70, thinks most of the drop in commodity prices is now over.
• Ryanair (NASDAQ: RYAAY) was raised to Hold from Sell at Societe Generale.
  
• Ann Taylor (NYSE: ANN) was upgraded at Piper to Neutral from Sell.
  
• Goldman added Illinois Tool Works (NYSE: ITW) to the Conviction Buy List.

Analyst downgrades:

• Argus downgraded shares of Constellation Energy (NYSE: CEG) to Hold from Buy post-close given the volatility in the stock as they can no longer recommend CEG until concerns over its capital and liquidity are resolved. Shares were also downgraded to Hold from Buy at Citigroup.
  
• Collins Stewart downgraded Lloyds TSB Group (NYSE: LYG) to Hold from Buy following the acquisition of HBOS (OTC: HBOOY) as they expect short-term weakness in the stock.

This post is part of a report entitled "Six-pack of technology favorites." You can read about the other top tech stock picks here.

"The semiconductor industry has been under pressure now for sometime, but one of the fastest growing businesses within semiconductors has been in programmable logic devices (PLDs)," notes wireless sector specialist Nikhil Hutheesing.

In The Forbes Wireless Stock Watch, he explains, "One of the top companies in this business is San Jose, California-based Altera (NASDAQ: ALTR). Here's his bullish review.

"These PLDs are chips that allow software developers to use inexpensive software tools to quickly develop, simulate, and test their designs. Then, a design can be quickly programmed into the chip and immediately tested in a live circuit.

"Unlike other chips, PLDs are based on re-writable memory technology. That means that if a designer wants to change the design on the chip, the device can be easily reprogrammed.

"Once the design is final, customers can go into immediate production by simply programming as many PLDs as they need with the final software design file. The result is that a final design can be completed much faster and less expensively than that of a custom, fixed logic device.

"While Altera also manufacturers other kinds of chips, it's the PLD business that could really boost the company's business. Eventually, Altera plans to replace the ASIC business entirely with PLDs.