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Stock Upgrades: There's Never Been a Better Time to Buy Best Buy

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Wall Street ratings agencies set the tone for today's stock market.

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Although the news disappointed all patriotic Americans, us superstitious sorts might suggest it just as well for the market that One World Trade Center did not, as anticipated, see its spire put in place on Monday. After all, 24 hours after the Chrysler Building topped out in 1929 came the Crash. Indeed, on another stellar session for stocks, echoes of Great Depression edifices were everywhere.

As a contentious battle raged over the Empire State Building, Radio City Music Hall owner Madison Square Garden (MSG) rose 2.77% on a broker boost. This as Apple (AAPL), recently accused of having a "Depression era mentality," gained 3.10% to advance for a third straight session. Unfortunately, such new found bullishness came too late to keep one of its biggest bulls in a job.

Today in economics, analysts anticipate increases in both April's Chicago Purchasing Managers' Index at 9:45 a.m. Eastern and this month's Conference Board consumer sentiment survey at 10:00 a.m. In Washington D.C., the Federal Open Market Committee starts its two-day policy setting session. On the corporate front, earnings are expected out of Aetna (AET), BP Plc (BP), Cummins (CMI), DreamWorks Animation (DWA), Legg Mason (LM), Office Depot (ODP), NYSE Euronext (NYX), Pfizer (PFE), Sirius XM Radio (SIRI), and UBS AG (UBS).

Anadigics (ANAD): The microcap is moved to upgraded to Buy from Market Perform at Charter Equity, which cites big gains in WiFi among other favorable factors.

ArcelorMittal (MT): Shares are upgraded to Buy from Hold at Santander.

Auxilium Pharmaceuticals (AUXL): Stifel hoists the stock to Buy from Hold amid optimism over Actient accretion.

Best Buy (NYSE:BBY): Shares are up before the bell on a boost to Buy from Hold at Deutsche Bank. Best Buy has decided to sell its stake in Europe's Carphone Warehouse.

Boardwalk Pipeline (BWP): The stock is now Neutral from Underperform at Credit Suisse.

Century Aluminum (CENX): Shares are taken to Buy from Hold from Hold with a fresh $13 price objective at Cowen.

Chart Industries (GTLS): Morgan Stanley moves the metal fabrication stock to Overweight from Equal-Weight.

Chinese Airlines: Air China (AIRYY.PK) and China Eastern Airlines (CEA) are each upgraded to Overweight from Neutral at HSBC Securities.

Deutsche Bank (DB): Shares are surging about 6% in today's European trading after impressive results saw it score an Overweight-from-Neutral upgrade at JPMorgan. Its analysts wrote in a note that the German financial giant is "finally starting to address its capital issues." Credit Suisse (Neutral from Underperform), Natixis Bleichroeder (Buy from Neutral), Nomura (Neutral from Reduce), and Santander (Hold from Underweight) round out the love-fest.

Domtar (UFS): The paper and forest products powerhouse is increased to Buy from Outperform at Crédit Agricole.

Invensys (PINK:IVNYY): Société Générale upgrades the stock to Buy from Hold.

Kilroy Realty (KRC): The office Real Estate Investment Trust (REIT) gets a Buy-from-Neutral boost at Bank of America-Merrill Lynch.

Occidental Petroleum (OXY): Shares are upgraded to Buy from Hold at Deutsche Bank.

Royal KPN (PINK:KKPNY): Jefferies juices its recommendation to Hold from Underperform.

SINA Corporation (SINA): The stock is higher on an upgrade to Buy from Hold at Jefferies.

Synovus Financial (SNV): Bank of America-Merrill raises the regional bank to Buy from Neutral.

Wesco Aircraft (WAIR): Shares are now Neutral from Underperform at Bank of America-Merrill Lynch.

(See also: New Stock Coverage: Pandora Stuck in the Penalty Box? and Stock Downgrades: Buffalo Wild Wings Shuffles Off Into the Sunset.)
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No positions in stocks mentioned.
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