Upgrades and Downgrades (ATAI, BIP, BPL, SNP, ISLE, NARA, TRAD, CIS, CLS, NS, OXPS, POM, PLXS)

Published on Tuesday, 24 August 2010 07:43 Written by Danny Miller

New York, August 24^th (TradersHuddle.com) – Following are some of the top upgrades and downgrades before the market open.

Upgrades:

ATA Inc (NASDAQ:ATAI), the provider of computer-based testing services, was upgraded to a Neutral from Underweight at Piper Jaffray.

Brookfield Infrastructure (NYSE:BIP), the owner and operator of electricity transmission systems, and timber assets, was upgraded to Outperform from Sector Perform at RBC Capital.

Buckeye Partners (NYSE:BPL) was upgraded to Neutral from Sell at Goldman Sachs.

China Petroleum & Chemical Corp (NYSE:SNP) was upgraded to Overweight from Neutral at HSBC.

Isle of Capri (NASDAQ:ISLE), the owner and operator of branded casino resorts throughout the U.S., the U.K. and the Bahamas, was upgraded to a Buy from Hold at KeyBanc

Nara Bancorp (NASDAQ:NARA) was upgraded to Outperform from Neutral at Macquarie.

Tradestation Group (NASDAQ:TRAD), the provider of brokerage and subscription services, was upgraded to Outperform from Neutral at Macquarie.

Downgrades

Camelot Information Systems (NYSE:CIS), the provider of enterprise application services and financial industry IT services was downgraded to a Neutral from Positive at Susquehanna.

Celestica (NYSE:CLS), the maker of electronic components, was downgraded to a Neutral from Buy at Ticonderoga. The firm cited growing concerns that enterprise demand is on the verge of experiencing disappointing trends over the next three to six months. At the same time, the firm is growing increasingly uncomfortable with the company's high exposure to Research-in-Motion (NASDAQ:RIMM) that they believe will face a more competitive market environment in the coming quarters.

NuStar Energy (NYSE:NS) was downgraded to a Sell from Neutral at Goldman Sachs.

OptionXpress (NASDAQ:OXPS) was downgraded to Underperform from Neutral at Macquarie.

PEPCO Holdings (NYSE:POM), the Washington, DC based diversified Energy Company, was downgraded to Market Perform from Outperform at Wells Fargo.

Plexus (NASDAQ:PLXS), the electronics manufacturing services provider, was downgraded to a Neutral from Buy at Ticonderoga. The firm believes weakening demand trends will accelerate across the technology landscape.