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MOST NOTEWORTHY: Research in Motion Limited (NASDAQ:
RIMM),
Komag Incorporated (NASDAQ:
KOMG) and
Western Digital Corporation (NYSE:
WDC) were today's noteworthy upgrades:
- Research in Motion was upgraded to Outperform from Market Perform at Morgan Keegan. RBC Capital upgraded shares to Top Pick as they see continued upside from product momentum. Banc of America upgraded to Buy from Neutral following the company's Q1 results and announced stock split. JMP Securities upgraded to Market Outperform from Market Perform, saying confidence in demand and recent checks indicate very strong backlog and forecasts.
- Komag was upgraded to Neutral from Underweight at JP Morgan following the buyout offer from Western Digital.
- Western Digital was upgraded to Strong Buy from Buy at Needham, as the firm believes Western Digital's acquisition of Komag is a strategic positive and that accretion will likely be significantly better than guidance.
OTHER UPGRADES:
- Deutsche Bank upgraded shares of Rohm and Haas Company (NYSE: ROH) to Buy from Neutral.
- Robbins & Meyers Inc (NYSE: RBN) was upgraded to Neutral from Underperform at Robert W Baird & Co.
- Heelys Inc (NASDAQ: HLYS) was upgraded to Sector Outperformer from Sector Performer at CIBC World Markets.
- BMO Capital upgraded the educator sector to Market Perform from Underperform, and Apollo Group Inc (NASDAQ: APOL) to Outperform from Market Perform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).
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