Analyst Upgrades

• Goldman upgraded Yum! Brands (NYSE: YUM) to Buy from Neutral on expectations business in the U.S. and China will improve in the second half of 2009. Goldman raised its target price on shares to $40 from $36.
• Canaccord upgraded Exco Resources (NYSE: XCO) to Buy from Speculative Buy citing the company's financial transactions to reduce debt. The firm, which has a $17 target on the stock, says Exco now has a stronger balance sheet, a greater geographic focus, and the ability to expedite drilling programs.
• ThinkEquity upgraded Shanda (NASDAQ: SNDA) to Accumulate from Source of Funds and raised its target to $60 from $50. The firm believes recent weakness on regulatory concerns is overdone and that Q2 estimates are conservative.
• Mack-Cali Realty (NYSE: CLI) was upgraded to Overweight from Equal Weight at Barclays.
• Marvel Entertainment (NYSE: MVL) was upgraded to Overweight from Neutral at JPMorgan.
• France Telecom (NYSE: FTE) was upgraded to Outperform from Underperform at Credit Suisse.

Analyst upgrades:

• Citigroup raised Ann Taylor (NYSE: ANN) to Hold from Sell. The firm upgraded shares following the company's Q2 upside and believes guidance for the second half of 2008 is appropriately conservative.
  
• Jefferies upgraded China Sunergy (NASDAQ: CSUN) based on valuation,and improved liquidity and silicon supply outlook.
  
• Stephens upgraded infoUSA (NASDAQ: IUSA) shares to Overweight from Equal Weight to reflect the stock's valuation, new management, improvements in expense controls and the potential to become a takeover target.
  
• Citigroup raised BB&T (NYSE: BBT) to Buy from Hold.
• Stifel upgraded Leggett & Platt (NYSE: LEG) to Buy from Hold.

• Citigroup downgraded Cablevision (NYSE: CVC) to Sell from Buy as they do not expect the company's structural moves to unlock value.
  
• Wachovia dropped Knight Transportation (NYSE: KNX) to Market Perform from Outperform based on valuation.