Analyst Upgrades

• Citigroup (C) to outperform from market perform at Bernstein.
• Cubist Pharma (CBST) to outperform from neutral at RW Baird.
• Pentair (PNR) to buy from hold at Citigroup.
• Heritage Financial (HFWA) to outperform from market perform at Keefe Bruyette.
• SL Green Realty (SLG) and Digital Realty (DLR) to market perform from underperform at FBR Capital.
• MGM Resorts (MGM) to neutral from Sell at Janney Capital.
• Ciena (CIEN) to buy from neutral and Olin (OLN) to buy from underperform at BofA/Merrill.
• Mellanox (MLNX) to overweight from equal weight at Barclays.
• ConocoPhillips (COP) and Canadian Natural (CNQ) to overweight from neutral at JPMorgan.
• IDEX (IEX) to outperform from perform at Oppenheimer.
• Taiwan Semiconductor (TSM) to buy from hold at Deutsche Bank.
• Ctrip.com (CTRP) to positive from neutral at Susquehanna.
• Linear Technology (LLTC) and Analog Devices (ADI) to hold from sell at Auriga.
• Quicksilver (KWK) to outperform from market perform at BMO Capital.

The shares of RF Micro Devices (RFMD), which I first wrote about on March 16, 2010, at a price of $5.03, have retreated from $8.40 to about $6, roughly in-sync with the market's correction. I still like the business model at this stage.

Note: I consider RF Micro to be a high-risk stock unsuitable for low-risk or moderate-risk investors; the stock is not for squeamish investors.

RF Micro is a leading manufacturer of high-performance radio frequency solutions, which are primarily used in cell phones. Other uses include wireless base stations, base stations, LANs, cable TV modems and GPS.

The FOMC kept rates at zero and kept the pressure n the quantitative easing front. The State of the Union was met with praise from supporters and criticism from the opposition, as you'd expect. Earnings season is fully underway and the DJIA hit 12,000 today for the first time in more than two years. We also had two premium IPOs today.

Here are the unofficial closing bell levels:

Dow Jones 11,985.44 +8.25 (0.07%)
S&P 500 1,296.63 +5.45 (0.42%)
Nasdaq 2,739.50 +20.25 (0.74%)

Top Stock Analyst Upgrades & Downgrades

The shares of RF Micro Devices (RFMD), which I first wrote about on March 16, 2010 at a price of $5.03, continue to trend higher, but with above-average volatility.

Hence the caution: I consider RF Micro to be a high-risk stock not suitable for low-risk/moderate-risk investors; the stock is not for squeamish investors.

RF Micro is a leading manufacturer of high-performance radio frequency solutions, which are primarily used in cell phones. Other uses include: wireless base stations, base stations, LANs, cable t.v. modems, and GPS.

In FY2012, RF Micro's sales should increase 10-12%, after a likely 11-13% rise in FY2011. Also, margins should rise slightly this year.

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.

The shares of RF Micro Devices (RFMD), which I first wrote about on March 16, 2010, at a price of $5.03, have rebounded this autumn, after coming dangerously close to the $3 sell/stop loss this summer.

RF Micro is a leading manufacturer of high-performance radio frequency solutions, which are primarily used in cell phones. Other uses include wireless base stations, base stations, LANs, cable TV modems and GPS. Look for FY2011 sales to increase about 10%, after a 10% rise in FY2010. Margins should rise slightly this year.

Note of caution: I consider RF Micro to be a high-risk stock not suitable for low-risk or moderate-risk investors.

The shares of RF Micro Devices (RFMD), first discussed here on March 16, 2010 at a price of $5.03, have pulled-back in the past three months, but just look on that retreat as an opportunity to consider the shares at a decent price. Here's why:

RF Micro is a leading manufacturer of high-performance radio frequency solutions, which are primarily used in cell phones. Other uses include: wireless base stations, base stations, LANs, cable t.v. modems, and GPS.

Note of caution: I consider RF Micro to be a high-risk stock not suitable for low-risk/moderate-risk investors.

My investment model here generally avoids stocks under $10, but there are exceptions, and RF Micro Devices (RFMD) is one.

RF Micro is a leading manufacturer of high-performance radio frequency solutions, which are primarily used in cell phones. Other uses include: wireless base stations, base stations, LANs, cable TV, modems, and GPS.

The Street.com's Jim Cramer says that it's too soon to think about selling the semis, the PCs, the components, the DRAMs.

When do we sell the semis? The DRAMS? The flash? When do we get out of the hard drives?

These are legit questions, but the people who are asking, "When do we sell Micron (NYSE: MU) (Cramer's Take), Western Digital (NYSE: WDC) (Cramer's Take) and SanDisk (NASDAQ: SNDK) (Cramer's Take)?" are the very people who told you never to own them.

That's the conundrum of this semi cycle and PC cycle. Just as we are finally hitting our stride and we realize that the semi cycle is alive and well again, AND NOT JUST RE-STOCKING, all over the papers, including the Wall Street Journal, we see reports crying, "When do we sell?"

Analyst Upgrades

• McAdams Wright expects Dendreon's (NASDAQ: DNDN) near-term momentum to continue but has long-term concerns that Street estimates are too high. The firm upgraded shares to Hold from Sell.
• JPMorgan upgraded Ameristar Casinos (NASDAQ: ASCA) to Overweight from Neutral to reflect valuation, potential catalysts from Colorado's easing gaming regulations, and the company's strong free cash flow. The firm raised its target on shares to $24 from $20.
• Citigroup upgraded Valspar (NYSE: VAL) to Hold from Sell after channel checks indicated paint demand is shifting to big-box retailers, the company's primary sales channel. The firm raised its target on shares to $22 from $19.
• Vulcan Materials (NYSE: VMC) was upgraded to Buy from Neutral at UBS.
• Altera (NASDAQ: ALTR) was raised to Outperform from Sector Perform at RBC Capital.
• Spectra Energy (NYSE: SEP) was upgraded to Neutral from Sell at Goldman.

Analyst Ugrades

• Stephens upgraded Old Dominion Freight (NASDAQ: ODFL) to Overweight from Equal Weight to reflect the financial problems at YRC Worldwide (NASDAQ: YRCW), which the firm believes could lead to market share gains. Stephens raised its target on Old Dominion Freight to $40 from $22.
• UBS expects SunPower (NASDAQ: SPWRA) to benefit from the U.S. residential solar segment as investment tax credits come available. The firm upgraded shares to Buy from Neutral and raised its target to $38 from $26.
• KeyBanc upgraded DPL (NYSE: DPL) to Buy from Hold based on valuation and potential upside from the Ohio approval of the rate settlement, 2010 guidance, and potential to use cash flow for accretive purposes.
• Microsoft (NASDAQ: MSFT) was upgraded to Conviction Buy from Buy at Goldman.
• Carnival (NYSE: CCL) was raised to Equal Weight from Underweight at Barclays.
• South Financial Group (NASDAQ: TSFG) was upgraded at SunTrust to Buy from Neutral.

Analyst upgrades:

• Jefferies upgraded HMS Holdings (NASDAQ: HMSY) to Buy from Hold on valuation as they believe the recent weakness provides an attractive entry point. The firm keeps a $36 price target on shares.
  
• Credit Suisse believes Universal Health (NYSE: UHS) is well positioned to gain market share, that earnings risk from the Las Vegas market is manageable, and that the balance sheet provides flexibility. The firm upgraded shares to Outperform from Neutral and raised their target to $48 from $46.
  
• UBS upgraded RF Micro (NASDAQ: RFMD) to Buy from Neutral citing checks that indicate strengthening momentum, impact from recent restructuring, and expected debt reduction. The analyst raised RFMD estimates above consensus and upped the price target to $3 from $1.10.
• Liberty Capital (NASDAQ: LCAPA) was upgraded to Buy from Hold at Deutsche Bank.
  
• Tesoro (NYSE: TSO) was raised to Hold from Sell at Soleil.
  
• SunTrust (NYSE: STI) was lifted at Keefe Bruyette to Outperform from Market Perform.

TheStreet.com's Jim Cramer says companies saddled with high debt loads can be found in every sector in every business.

Overleveraged. Too much debt. Need to pay down debt. How many times have you read that story?

You read it so much because it plays out every day and plays havoc with stock picking almost every time you see a savory stock down on its luck.

This weekend, as I went through the charts, I was amazed at how low some stocks have gone, stocks that I would normally say to just take a flyer on, but turn out to have so much debt, short- and long-term, that they are just too dangerous.

Consider these perhaps poisonous morsels:

Analyst upgrades:

• UBS upgraded Safeway (NYSE:SWY) to Buy from Neutral based on valuation.
  
• AthroCare (NASDAQ:ARTC) was raised to Neutral from Negative at Susquehanna on valuation.
• BT Group (NYSE:BT) was raised to Neutral from Underperform at Credit Suisse.
  
• Leap Wireless (NASDAQ:LEAP) was upgraded at Goldman to Buy from Neutral.
  
• China Mobile (NYSE:CHL) was upgraded to Buy from Neutral at Merrill Lynch.

Analyst downgrades:

• Jefferies downgraded shares of Albany Molecular (NASDAQ:AMRI) to Underperform from Hold on concerns regarding the company's exposure to small biopharma as their checks suggest biopharmaceutical companies that rely on the capital markets to fund operations are cutting back significantly on R&D projects. The firm lowered their target to $8 from $10.
• Baird downgraded Sirona Dental (NASDAQ:SIRO) to Neutral from Outperform and lowered their target to $15 from $21 due to lack of catalysts and better options in dental.
  
• Stephens cut Hub Group (NASDAQ:HUBG) to Equal Weight from Overweight on the expectation that weaker volumes will lead to pricing pressure. The firm lowered their target to $24 from $36.
• Teco Energy (NYSE:TE) was downgraded to Hold from Buy at KeyBanc.
  
• RF Micro Devices (NASDAQ:RFMD) was lowered to Underperform from Buy at Merrill Lynch.
  
• Energy Conversion (NASDAQ:ENER) was cut to Underweight from Equal Weight at Barclays.

Analyst upgrades:

• Goldman upgraded Bed Bath & Beyond (NASDAQ: BBBY) to Buy from Neutral based on valuation and a potential margin rebound at Linens N' Things.
  
• Citigroup upgraded Rockwell Automation Inc. (NYSE: ROK) to Hold from Sell on valuation and believes expectations have been reset to a reasonable level. The company's target was lowered to $27 from $33.
  
• Friedman Billings upgraded shares of Ceradyne (NASDAQ: CRDN) to Outperform from Market Perform on valuation following the recent weakness and thinks the Army will move forward with a larger XSAPI procurement in FY09. The firm raised their target to $30 from $26.
• Goldman added Wyeth (NYSE: WYE) to the Conviction Buy List.
  
• Equity Residential (NYSE: EQR) was upgraded to Buy from Neutral at UBS.
  
• Analog Devices (NYSE: ADI) was raised to Overweight from Equal Weight at Morgan Stanley.

Analyst downgrades: