What are liquid natural gas converters and how do they work? Natural gas is transported in liquid form called liquefied natural gas (LNG). In its liquid form it can be transported anywhere in the world. To be useful, it must be converted back into gas form. This is done with floating regasification tankers, which will be increasing in demand over the next decade, according to BloombergBusinessweek. The tankers can dock at a gas pipeline terminal and pump the gas back into local pipelines. One company, Teekay (TK) has such a tanker.

Analyst Upgrades

• Verisk (VRSK) was upgraded to outperform from market perform at Wells Fargo.
• Marriott (MAR) was upgraded to outperform from market perform at Bernstein.
• Jefferies upgraded Teekay (TK) and Tsakos Energy (TNP) to Buy from Hold.
• Cadence Design (CDNS) was upgraded to sector perform from underperform at RBC Capital.
• BofA/Merrill upgraded NV Energy (NVE) to buy from underperform and Education Realty Trust (EDR) to neutral from underperform.
• Men's Wearhouse (MW) was upgraded to buy from hold at Stifel.
• William Blair upgraded Atheros (ATHR) to outperform from market perform.
• Freeport McMoran (FCX) was upgraded to buy from hold at Argus.

Analyst Upgrades

• HSBC upgraded Massey Energy (MEE) to overweight from neutral based on improved 2011 pricing power given industry supply-side discipline. Despite the upgrade, the firm cuts its price target to $40 from $54.
• Needham upgraded Blue Coat Systems (BCSI) to buy from hold following yesterday's announcement that Michael J. Borman has been named the new CEO. The firm has a $27 price target on the stock.
• Citigroup upgraded Teekay Offshore Partners (TOO) to buy from hold after the company announced shuttle tanker contracts to reflect improved operating performance. The firm raised its target for shares to $26 from $15.
• Prosperity Bancshares (PRSP) was upgraded to equal weight from underweight at Morgan Stanley.
• Ceradyne (CRDN) was upgraded to buy from hold at Benchmark Co.
• CTC Media (CTCM) was upgraded to buy from hold at Deutsche Bank.

MOST NOTEWORTHY:

• Goldman upgraded the U.S. Semiconductor Sector, including Intel (NASDAQ: INTC) and SanDisk (NASDAQ: SNDK) to Attractive from Neutral. The firm believes semi fundamentals are poised to improve in 2H08 and that valuations are reasonable.
  
• Wachovia upgraded Teekay Offshore (NYSE: TOO) to Outperform from Market Perform based on valuation and increased distribution growth outlook following the acquisition of an additional 25% ownership interest in Teekay Offshore Operating, L.P.
  
• Merriman upgraded shares of Oplink Communications (NASDAQ: OPLK) to Buy from Neutral as it believes the company is an attractive takeover target following the Finisar (NASDAQ: FNSR) and Optium (NASDAQ: OPTM) merger, given its low-cost Chinese manufacturing capacity and attractive $140M cash balance.

• Goldman upgraded Amazon.com (NASDAQ: AMZN) to Buy from Neutral and added shares to its Conviction Buy List.
  
• William Blair raised Interpublic Group (NYSE: IPG) to Outperform from Market Perform.
  
• Citigroup upgraded Texas Instruments (NYSE: TXN) to Buy from Hold.

MOST NOTEWORTHY:

• Wachovia upgraded Goldman Sachs (NYSE: GS) to Outperform from Market Perform, as they believe Goldman has a superior capital position relative to competitors and will likely benefit more than any firm from Bear Stearns' (NYSE: BSC) collapse. They have a $180-$185 target range for the stock.
  
• Following Alexza Pharma's (NASDAQ: ALXA) Q4 report, JMP Securities said they have reduced concerns regarding Loxapine timelines and risks. The firm raised Alexza to Outperform from Market Perform.
  
• SAP AG (NYSE: SAP) was upgraded to Outperform from Market Perform at Bernstein on valuation and a positive view on fundamentals.

• Tyson Foods (NYSE: TSN) was raised to Overweight from Equal Weight at Stephens.
• Citigroup upgraded Teekay Shipping (NYSE: TK) and General Maritime (GMR) to Buy from Hold.
  
• RiskMetrics (NYSE: RMG) was upgraded to Buy from Neutral at Banc of America.

MOST NOTEWORTHY:

• Morgan Joseph cut Chipotle Mexican Grill (NYSE: CMG) to Hold from Buy on valuation.

• Stifel downgraded Caterpillar (NYSE: CAT) to Hold from Buy on valuation.

• Pacific Crest cut shares of The9 (NASDAQ: NCTY) to Sector Perform from Outperform with a $41 target following the disappointing Q1 results and slow start to the second quarter.

• Banc of America downgraded shares of Teekay Shipping (NYSE: TK) and Ship Finance Int'l (NYSE: SFL) to Neutral from Buy on valuation and a lack of near-term catalysts...

• Matrix USA cut Valhi, Inc (NYSE: VHI) to Sell from Hold.

• UBS downgraded Franklin Resources (NYSE: BEN) to Neutral from Buy.

• Wedbush started Bebe Stores Inc (NASDAQ: BEBE) with a Hold rating and $21 target; they believe shares are range-bound given near-term fashion risks and limited visibility into square-footage growth.

• Gymboree Corp (NASDAQ: GYMB) was initiated with a Buy rating and $48 target at Wedbush, as the firm expects margin expansion opportunities from recent sourcing initiatives.

• Roth Capital added A.D.A.M. Inc (NASDAQ: ADAM) with a Buy rating and $8 target.

• Friedman Billings started MBIA Inc (NYSE: MBI) with a Market Perform rating.

• Lazard initiated Teekay Shipping Corp (NYSE: TK) with a Hold rating, citing valuation.