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Equities Research Analysts’ upgrades for Wednesday, January 22nd:

ASML Holding (NASDAQ:ASML) was upgraded by analysts at Commerzbank AG from a reduce rating to a hold rating.

Compania de Minas Buenaventura SA (NYSE:BVN) was upgraded by analysts at Morgan Stanley from an equal weight rating to an overweight rating. The firm currently has $15.80 target price on the stock. The analysts wrote, “BVN is down 65% LTM, underperforming gold by 39 pct. pts. and its NA peers by 12 pct. pts,” the report noted. “The stock trades 39% below the average of its NA peers’ 2014 P/E. Using market values for Cerro Verde and El Brocal and BVN’s stake in each, we derive an implied market value for BVN’s precious metals operations. We calculate that the valuation of those operations is down by 47% since 2007. Further, BVN’s valuation discounts gold at ~$1,000/oz in perpetuity, 19% below spot of $1,240 and 14% below our commodities team’s new 2014 forecast of $1,160.”

Hudson Valley Holding Corp. (NYSE:HVB) was upgraded by analysts at Sandler O’Neill from a hold rating to a buy rating.

Linn Energy, LLC (NASDAQ:LINE) was upgraded by analysts at Howard Weil from a sector outperform rating to a focus stock rating. They currently have $36.00 target price on the stock.

LinnCo LLC (NASDAQ:LNCO) was upgraded by analysts at Howard Weil from a sector outperform rating to a focus stock rating. Howard Weil currently has $36.00 target price on the stock.

Pinnacle Financial Partners (NASDAQ:PNFP) was upgraded by analysts at Sterne Agee from a neutral rating to a buy rating.

Rowan Companies PLC (NYSE:RDC) was upgraded by analysts at Tudor Pickering from a hold rating to an accumulate rating.

REMY COINTREAU FF (NASDAQ:REMYF) was upgraded by analysts at Societe Generale from a sell rating to a hold rating.

Southwestern Energy (NYSE:SWN) was upgraded by analysts at Sterne Agee from a neutral rating to a buy rating. The firm currently has $48.00 target price on the stock, up from their previous target price of $40.33.

UMB Financial Corp. (NASDAQ:UMBF) was upgraded by analysts at Sterne Agee from a neutral rating to a buy rating. The firm currently has $75.00 price target on the stock.

W&T Offshore (NYSE:WTI) was upgraded by analysts at Capital One Financial Corp. from an underweight rating to an equal weight rating.

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