Analyst Upgrades

• Home Depot (HD) to buy from neutral at Goldman.
• Delta Air Lines (DAL) to buy from neutral at BofA/Merrill.
• Heico (HEI) to outperform from sector perform at RBC Capital.
• Royal Dutch Shell (RDS.A) to outperform from neutral at Credit Suisse.
• MB Financial (MBFI) to outperform from neutral at RW Baird.
• Quest Diagnostics (DGX) to equal weight from underweight at Morgan Stanley.
• Oshkosh (OSK) to neutral from underweight at JPMorgan.
• Volterra (VLTR) and Silicon Laboratories (SLAB) to buy from neutral at Roth Capital.
• Ascena Retail Group (ASNA) to overweight from neutral at Piper Jaffray.
• Cytec Industries (CYT) to buy from hold at Deutsche Bank.

Analyst Upgrades

• Diamond Offshore (DO) to conviction buy from sell and Baker Hughes (BHI) to buy from neutral at Goldman.
• Frontier Communications (FTR) to outperform from market perform at Wells Fargo.
• Syntel (SYNT) to outperform from market perform at Wells Fargo, to buy from hold at Deutsche Bank and to buy from neutral at Janney Capital.
• Kulicke & Soffa (KLIC) and Fiserv (FISV) to outperform from perform at Oppenheimer.
• 3M (MMM) to neutral from underweight and Tyco (TYC) to overweight from neutral at JPMorgan.
• Collective Brands (PSS) and Nordstrom (JWN) to overweight from equal weight, as well as Foot Locker (FL) to equal weight from underweight, at Morgan Stanley.
• Amazon.com (AMZN) to buy from hold at Lazard Capital.
• Yamana Gold (AUY) to outperform from neutral at Credit Suisse.

Analyst Upgrades

• Wells Fargo believes Intuitive Surgical (ISRG) da Vinci procedures remain under penetrated and that consensus estimates are too low. The firm upgraded shares to outperform from market perform and raised its valuation range to $340 to $360.
• Cantor Fitzgerald upgraded Westamerica (WABC) to buy from hold due to the company's FDIC-assisted acquisition of Sonoma Bank and what the firm sees as Westamerica's defensive nature. The firm set a $62 target on the stock.
• Oppenheimer upgraded Corning (GLW) to outperform from perform based on valuation and the belief that downward revisions have peaked. The firm has a $20 target on the stock.
• Quality Systems (QSII) was upgraded to outperform from market perform at JMP Securities.
• OpenTable (OPEN) and Windstream (WIN) were upgraded to buy from neutral at BofA/Merrill.

Analyst Upgrades

• JPMorgan upgraded Tupperware (TUP) to overweight from neutral, but lowered its price target to $57 from $58. The firm cites valuation and organic growth for the upgrade.
• William Blair upgraded Computer Programs (CPSI) to outperform from market perform. The firm noted that the company's Systems bookings have significantly exceeded its Systems revenue in recent quarters while the firm thinks the company will benefit from accelerated EHR adoption by small hospitals in coming years.
• RBC Capital upgraded Questar (STR) to outperform from sector perform and raised its price target to $49 from $52. The firm believes the separation of QEP Resources from Questar will create shareholder value.
• Pinnacle Financial (PNFP) was upgraded to buy from hold at Wunderlich.
• Power Integrations (POWI) and Volterra (VLTR) were upgraded to strong buy from buy at Needham.
• Realty Income (O) was upgraded to neutral from underperform at Baird.

Most of us would be thrilled to invest in a stock that doubles our money, but it certainly isn't easy to find these stocks. According to data provider Capital IQ, in the last year only 1.4% of 6,700 stocks trading on the U.S. exchanges were able to double their price.

BusinessWeek started hunting some of these potentially great stocks by asking fund managers to choose those firms expected to provide 100% returns in the next few years. Of course, the resulting list is by no means a sure thing, since major factors such as the ongoing credit crisis and challenging market conditions could affect results in unpredictable ways.

But let's look at some of the strategies used when picking high-potential stocks.

Mary Lisanti, portfolio manager at the Adams Harkness Small Cap Growth Fund, focuses on young companies in the small-cap segment. She points to stocks like Rubicon Technology (NASDAQ: RBCN) and Titan Machinery Inc. (NASDAQ: TITN), saying that investors can have a big advantage when they recognize potential before the market does.

MOST NOTEWORTHY: National City, Syntax Brillian and Medco Health were today's noteworthy upgrades:

• Deutsche Bank upgraded shares of National City (NYSE: NCC) to Buy from Sell on valuation as they believe their $9.00 target is in-line with the company's franchise value.
  
• Baird upgraded Syntax Brillian (NASDAQ: BRLC) to Outperform from Neutral based on recently announced strategic initiatives and valuation.
  
• Jefferies upgraded shares of Medco Health (NYSE: MHS) to Buy from Hold as they believe the company's renewed PBM contract with United Healthcare (NYSE: UNH) removes a major overhang.

OTHER UPGRADES:

• Friedman Billings raised Downey Financial (NYSE: DSL) to Market Perform from Underperform.
  
• Volterra (VNASDAQ: LTR) was raised to Buy from Neutral at Piper.
  
• Alliance Data (NYSE: ADS) was raised at JP Morgan to Overweight from Neutral.

MOST NOTEWORTHY: Today's noteworthy upgrades include ConAgra Foods, Inc (CAG), Dell Inc (DELL), Ryland Group, Inc (RYL) and Volterra Semiconductor Corp (VLTR).

• Prudential upgraded shares of ConAgra Foods Inc (NYSE: CAG) to Neutral from Underweight with a $26 target on valuation.
• Pacific Crest upgraded shares of Dell Inc (NASDAQ: DELL) to Outperform from Sector Perform as the firm believes new management, new products and supply chain cost realignments could boost operating margins.
• Ryland Group, Inc (NYSE: RYL) was upgraded to Neutral from Underperform at Credit Suisse.
• Unterberg upgraded shares of Volterra Semiconductor (NASDAQ: VLTR) to Market Perform from Underperform on valuation.

OTHER UPGRADES:

• Friedman Billings upgraded Peabody Energy Corp (NYSE: BTU) to Outperform from Market Perform based on lack of CAPP exposure, growth profile, rising international demand and certain benefits from the scrubber trend.
• JP Morgan upgraded shares of Cincinnati Bell Inc (NYSE: CBB) to Overweight from Neutral, as the firm believes higher capex is reflected in the valuation and FCF should recover in 2008.
• Sandler upgraded First Charter Corp (NASDAQ: FCTR) to Buy from Hold based on valuation.
• Brean Murray has increased confidence in the success of Isle of Capri Casinos' (NASDAQ: ISLE) Isle casino, soon to open at Pompapno Park, and the considerable option value that should be embedded in shares related to a Florida gaming bill which would loosen restrictions on gaming at pari-mutual facilities. The firm upgraded shares to Buy from Hold on the news.
• Deutsche Bank upgraded shares of Pogo Producing Co (NYSE: PPP) to Hold from Sell to reflect the likelihood of corporate action over the near term, most likely the sale of the company in whole or in parts.
• Merill Lynch upgraded Janus Capital Group Inc (NYSE: JNS) and Calamos Asset Management, Inc (NASDAQ: CLMS) to Buy from Neutral.

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

MOST NOTABLE: Cabela's Inc (CAB), Time Warner Inc (TWX), Open Text Corp (OTEX) and Tortoise Capital Resources Corp (TTO) were some of today's more notable initiations:

• Cabela's inc (NYSE: CAB) was initiated with an Outperform rating and $30 target. The firm is confident in Cabela's outlook given the company's substantial store expansion opportunities, encouraging operating environment and valuation.

• Time Warner (NYSE: TWX) was started with a Buy rating and $25 target at UBS.

• Benchmark initiated Open Text Corp (NASDAQ: OTEX) with a Sell rating.

• Tortoise Capital Resources (NYSE: TTO )was initiated by both Ferris Baker and Stifel with a Buy rating.

OTHER INITIATIONS:

• CIBC initiated Volterra Semiconductor Corp (NASDAQ: VLTR) with a Sector Performer rating.

• Goldman initiated Savvis, Inc (NASDAQ: SVVS) with a Buy rating and $50 target.

• Cowen started Cogent Communications Group, Inc (NASDAQ: CCOI) with an Outperform rating.

• Avondale initiated Callaway Golf Co (NYSE: ELY) with a Market Outperform rating and $20 target.

• ThinkEquity started Adventrx Pharmaceuticals, Inc (NYSE: ANX) with a Buy rating and $5 target.

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

MOST NOTEWORTHY:

• International Business Machines (NYSE: IBM) was upgraded to Buy from Sell at ThinkEquity citing increased performance and profitability in the company's Global Service unit and strong software sales; IBM's target was raised to $110 from $70.

OTHER UPGRADES:

• Volterra Semiconductor (NASDAQ: VLTR) was upgraded to Strong Buy from Buy with a $21 target at First Albany. The firm told clients Volterra's innovative power management technology is driving market penetration in higher volume markets while driving down costs per amp.

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