Top Analyst Upgrades and Downgrades (CETV, CQB, CME, CFX, JAZZ, OSG, PII, UBS, WBS)

These are the top early-bird analyst calls with upgrades and downgrades seen this Friday morning with over two hours until the market opens:

• Central European Media (CETV) Raised to Neutral at JPMorgan.
• Chiquita Brands (CQB) Raised to Buy at Janney Montgomery Scott.
• CME (CME) Raised to Neutral at JPMorgan.
• Colfax (CFX) Raised to Buy ar KeyBanc.
• Jazz Pharmaceuticals (JAZZ) Cut to Underweight at Barclays.
• Overseas Shipholding Group (OSG) Cut to Market Perform at FBR.
• Polaris (PII) Raised to Outperform at RBC.
• UBS (UBS) Raised to Outperform at Credit Suisse.
• Webster Financial (WBS) Raised to Market Perform at FBR.

Jon C. Ogg
June 26, 2009