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Analyst upgrades:- Citigroup upgraded Phillips-Van Heusen (NYSE: PVH) to Buy from Hold following the company's Q1 results as it believes management is executing well in the current environment and that the company could meet the high end of guidance. The firm raised its price target to $24 from $19.
- Friedman Billings upgraded Cliffs Natural (NYSE: CLF) to Outperform from Market Perform as it believes capacity utilization has stabilized and CLF's valuation is attractive at current levels. The firm raised its price target to $27 from $23.
- Thomas Weisel believes demand at Microchip's industrial (NASDAQ: MCHP) customers has troughed and that market share loss concerns are unwarranted. The firm upgraded shares to Overweight from Market Weight and raised its target to $27 from $19.
- CBS Corp (NYSE: CBS) was upgraded to Neutral from Sell at Goldman.
- U-Store It Trust (NYSE: YSI) was raised to Outperform from Neutral at Baird.
- Ener1 (NASDAQ: HEV) was lifted at Banc of America/Merrill to Buy from Neutral.
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