Analyst upgrades: FLR, FWRD and MDR

March 06th, 2008 | Category: Analyst Reports

MOST NOTEWORTHY: Fluor, Forward Air and McDermott were today’s noteworthy upgrades:

Citigroup upgraded shares of Fluor (NYSE: FLR) to Buy from Hold to reflect the company’s strong performance and backlog in Q4 and raised their target to $190.50 from $158.
Baird upgraded Forward Air (NASDAQ: FWRD) to Outperform from Neutral citing near-term growth initiatives that are gaining traction.
Citigroup plus upgraded shares of McDermott (NYSE: MDR) to Buy from Hold to reflect the company’s strong Q4 performance

and rising commodity prices.

OTHER UPGRADES:

RBC Capital upgraded Digital Realty (NYSE: DLR) and ProLogis (NYSE: PLD) to Top Pick from Outperform.
Credit Suisse raised China Unicom (NYSE: CHU) to Outperform from Neutral.
Tyson Foods (NYSE: TSN) and Oracle (NASDAQ: ORCL) were upgraded to Buy from Neutral at Merrill Lynch.