Top 10 Early Analyst Upgrades & Downgrades (FUL, OZM, REP, TOL, DOV, EMR, GA, GSK, MEDX, RDS-A)

These are ten of the top pre-market early bird upgrades and downgrades we are seeing from analysts this Friday morning:

• H.B. Fuller (NYSE: FUL) Raised to Overweight at JPMorgan.
• Och-Ziff Capital (NYSE: OZM) Started as Buy at Jefferies.
• Repsol YPF (NYSE: REP) Raised to Buy from Hold at ING; Raised to Hold from Sell at Soc-Gen.
• Toll Brothers (NYSE: TOL) Started as Outperform at KBW.
• Dover (NYSE: DOV) Cut to Underweight at JPMorgan.
• Emerson Electric (NYSE: EMR) Cut to Underweight at JPMorgan.
• Giant Interactive (NYSE: GA) Cut to Perform at Oppenheimer.
• GlaxoSmithkline (NYSE: GSK) Cut to Neutral from Buy at UBS.
• Medarex (NASDAQ: MEDX) Started as Sell at Merriman Curhan Ford.
• Royal Dutch Shell (NYSE: RDS-A) Cut to Hold from Buy at ING.

Jon C. Ogg
November 14, 2008