Stock Upgrades, Downgrades from TheStreet.com Ratings

Ultralife Batteries(ULBI Quote) makes batteries, charging systems and communications accessories for use in military, industrial and consumer portable electronics. It has been upgraded to a hold from a sell. The company's revenue increased by 64.5% in the second quarter compared with the same period last year, and the growth appears to have trickled down to the company's earnings.

Ultralife posted EPS of 8 cents per share in the second quarter compared with 1 cent a share. While the company has reported somewhat volatile earnings of late, TheStreet.com Ratings expects EPS growth in the coming year. Ultralife had been rated a sell since February 2007.

Nutritional and personal care products developer USANA Health Sciences(USNA Quote) has been upgraded to a buy from a hold. Its revenue increased by 16.9% in the third quarter compared with the same period last year. Earnings improved to 70 cents a share from 55 cents per share over the same timeframe.

The company's return on equity improved to 184.53% in the third quarter compared with 78.97%, a signal of significant strength within the corporation. This return on equity greatly exceeds that of both the industry average and the S&P 500. USANA Health had been rated a hold since August 2007.

LG Philips LCD(LPL Quote) develops and manufactures LCD panels for the electronics and technology industries. It has been upgraded to a buy from a hold. The company's revenue rose by 49.1% in the third quarter compared to the same period last year.

Powered by its revenue growth, EPS swung to a gain of 77 cents a share in the third quarter from a loss of 45 cents per share in the same period last year. Its net operating cash flow increased 205.52% to $1.04 billion in the same timeframe. LG Philips had been rated a hold since July 2007.