• ConocoPhillips (NYSE:COP) was upgraded by Deutsche Bank (NYSE:DB) with a $55 price target on projections of tightening oil supply and increased demand
• Goldman Sachs (NYSE:GS) reiterated Conviction Buy List recommendations for JP Morgan (NYSE:JPM) and Bank of America (NYSE:BAC). Goldman also raised the price target for Wells Fargo (NYSE:WFC) shares to $35 from $31
• General Dynamics (NYSE:GD) was upgraded to “overweight” by Morgan Stanley (NYSE:MS)
• According to reports, Brocade Communications (NASDAQ:BRCD) may have put itself up for sale, with potential suitors including Oracle (NASDAQ:ORCL) and Hewlett-Packard (NYSE:HPQ). The firm’s market cap as of Friday was $3.2 billion
• According to Microsoft’s (NASDAQ:MSFT) CEO Steve Ballmer, the firm does not anticipate acquisitions to compete with Google’s (NASDAQ:GOOG) dominant market share