Stock Market News on Major Stock Upgrades (CRDN, BMRN, BCSI)

Ceradyne, Inc. (NASDAQ:CRDN) shares climbed 4.62% to $22.85 following the stock was upgraded by Benchmark to “Buy” from “Hold.”  The firm also set a price target of $26.

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Benchmark analyst says, "Our upgrade is based on improving visibility and upside in body armor, as well as continued strength in its alternative energy and industrial markets...We are increasing our FY10/FY11 estimates. We increase our FY10 revenue and EPS estimates to $418 million and $0.99 to reflect delivery of more ESAPI in Q4. We also increase our FY11 revenue and EPS estimates to $460 million and $1.30."

Abercrombie & Fitch Co. (A&F) through its subsidiaries, is a specialty retailer that operates stores and direct-to-consumer operations selling casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) are seeing increased buying pressure following Morgan Joseph upped the company’s rating to “Buy” from “Hold.” And set a price target of $25.

The firm said, "We believe BioMarin is one of the rare small companies in the sector with a growing rare-disease franchise and expertise in commercial manufacturing of large molecule drugs, which makes it a good acquisition target, in our opinion."

Shares of BMRN climbed 2.37% to $20.77 on very heavier than the average volume.

BioMarin Pharmaceutical Inc. (BioMarin) develops and commercializes pharmaceuticals for serious diseases and medical conditions. The Company’s product portfolio consists of four approved products and multiple investigational product candidates. Its approved products include Naglazyme (galsulfase),

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Blue Coat Systems, Inc. (NASDAQ:BCSI) was upgraded by Needham & Company to “Buy” from “Hold” and set a price target of $27.

Needham analyst says, "We have been waiting for an opportunity to upgrade BCSI shares, currently trading at $18.83, or 9x P/E and 1.2x EV/FY12 revenue. In our view, the combination of a new CEO who is a proven operator, plus “washed out” valuation after two weak quarters of guidance, provides a window for an upgrade to shares."

Shares of BCSI soared 10.36% to $20.78 in the opening session.

Blue Coat Systems, Inc. designs, develops and sells products and services that secure and optimize the delivery of business applications and other information to distributed users over a wide area network (WAN), or the public Internet (also known as the Web).

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