Analyst Upgrades

• State Street (STT) was upgraded to buy from neutral at Goldman.
• Roth Capital upgraded Intel (INTC), Marvell Technology (MRVL) and Nvidia (NVDA) to buy from neutral.
• Bebe Stores (BEBE) was upgraded to buy from neutral at Janney Montgomery.
• W&T Offshore (WTI) was upgraded to buy from accumulate at Global Hunter.
• Citigroup upgraded International Rectifier (IRF) and Timberland (TBL) to hold from sell.
• Watson Pharma (WPI) was upgraded to buy from neutral at UBS.
• Atmel (ATML) was upgraded to strong buy from buy at Needham.
• Ashford Hospitality (AHT) was upgraded to outperform from neutral at RW Baird.
• Oppenheimer upgraded MetroPCS (PCS) to outperform from perform.

MOST NOTEWORTHY: Red Lion Hotels (RLH), Constellation Energy (CEP), Brinker Int'l (EAT), Nvidia (NVDA) and InfoSpace (INSP) were today's noteworthy upgrades:

• Baird upgraded Red Lion Hotels (NYSE: RLH) to Outperform from Neutral based on valuation, brand expansion progress and takeover potential.

• Constellation Energy (NYSE: CEP) was upgraded to Buy from Hold at Citigroup based on higher cash flow expectations and valuation.

• JP Morgan upgraded Brinker (NYSE: EAT) to Overweight from Neutral, and sees potential upside from slower unit development and a possible Mac Grill sale.

• BMO Capital upgraded Nvidia (NASDAQ: NVDA) to Outperform from Market Perform following a strong second quarter.

• Stanford upgraded InfoSpace (NASDAQ: INSP) to Hold from Sell on valuation; They consider the core online segments looks to be priced into the stock and downside support is given with tax credits and the cash balance...

OTHER UPGRADES:

• Citigroup raised Cox Radio (NYSE: CXR) to Hold from Sell.

• JP Morgan upgraded shares of PepsiAmericas (NYSE: PAS) to Neutral from Underweight.

• Friedman Billings upgraded shares of Emulex (NYSE: ELX) to Outperform from Market Perform.

• DirecTV (NYSE: DTV) was raised to Buy from Hold at Gabelli.

• Seagate (NYSE: STX) was upgraded to Buy from Neutral at Goldman.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).