Filed under: Analyst upgrades and downgrades

MOST NOTEWORTHY: Acadia Pharmaceuticals, Genesis Microchip and SAFECO Corp were today’s noteworthy upgrades:

• JMP Securities upgraded Acadia Pharmaceuticals (NASDAQ: ACAD) to Strong Buy from Market Outperform, citing increased confidence in the company’s pimavanserin for combination treatment of schizophrenia.
• Genesis Microchip (NASDAQ: GNSS) was upgraded to Hold from Underperform at Jefferies to reflect the acquisition by STMicroelectronics (NYSE: STM). The firm does not expect additional competitive offers.
• SAFECO (NYSE: SAF) was upgraded to Market Perform from Underperform at Friedman Billings based on improved outlook and valuation.

OTHER UPGRADES:

• Morgan Stanley upgraded Continental Airlines (NYSE: CAL) and Southwest Airlines (NYSE: LUV) to Overweight from Equal Weight.
• Bear Stearns raised its rating on Cincinnati Bell (NYSE: CBB) to Peer Perform from Outperform.

Permalink | Email this | Comments

Share This

This entry was posted on Wednesday, December 12th, 2007 at 4:21 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.