Upgrades Come to Financials (AXP, COF, CMA, DFS, LEH, PRSP)

These are some of the top analyst calls for the financial services group we have seen in the early hours of trading this Tuesday morning:

• American Express (NYSE: AXP) raised to Neutral at UBS.
• Capital One (NYSE: COF) raised to Neutral at UBS.
• Comerica (NYSE: CMA) raised to Outperform at KBW.
• Discover Financial Services (NYSE: DFS) raised to Neutral at UBS
• Lehman Brothers (NYSE: LEH) raised to Overweight with $31 target at Morgan Stanley, although this was technically a late-Monday call.
• Prosperity Bancshares (NASDAQ: PRSP) raised to Outperform at BMO Capital Markets.

Jon C. Ogg
July 1, 2008