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BOSTON ( TheStreet) -- TheStreet.com's stock-rating model upgraded Cooper ( COO), a maker of contact lenses and medical devices, to "buy."

The numbers: Fiscal third-quarter profit increased 23% to $22 million, or 48 cents a share, as revenue grew 2% to $285 million. Cooper's gross margin fell from 62% to 59%, but its operating margin rose from 11% to 14%. A quick ratio of 0.8 demonstrates less-than-ideal liquidity. A debt-to-equity ratio of 0.6 indicates reasonable leverage.

The stock: Cooper has advanced 89% this year, more than major U.S. indices. The stock trades at a price-to-earnings ratio of 14, a discount to the market and health care supply peers. Shares pay a 0.2% dividend yield.

The model upgraded Manhattan Associates ( MANH), a designer of supply-chain software, to "buy."

The numbers: Third-quarter net income jumped 155% to $11 million and earnings per share surged 178% to 50 cents, boosted by a lower share count. Revenue fell 21% to $65 million. Manhattan's gross margin rose from 54% to 59% and its operating margin increased from 10% to 17%. The company has an ideal financial position, with $103 million of cash and no debt.

The stock: Manhattan Associates is up 42% this year, beating major U.S. indices. The stock trades at a price-to-earnings ratio of 40, a premium to the market and application software peers. The company doesn't pay dividends.

The model upgraded M&T Bank ( MTB) to "buy."

The numbers: Third-quarter net income increased 40% to $128 million and earnings per share climbed 18% to 97 cents, restrained by a higher share count. Revenue grew 7% to $979 million. M&T's gross margin rose from 55% to 69% and its operating margin increased from 19% to 37%. The company is adequately capitalized, with $1.4 billion of cash reserves. A debt-to-equity ratio of 1.7 indicates higher-than-ideal leverage.

The stock: M&T Bank is up 15% this year, outpacing the Dow Jones Industrial Average, but trailing the S&P 500 Index. The stock trades at a price-to-earnings ratio of 26, a premium to the market, but a discount to regional banking peers. Shares pay a 4.2% dividend yield.

The model upgraded diversified metals and mining company Walter Energy ( WLT) to "buy."

The numbers: Third-quarter net income dropped 57% to $24 million and earnings per share fell 64% to 45 cents. Revenue declined 10% to $278 million. Walter's gross margin dropped from 44% to 28% and its operating margin fell from 35% to 15%. A quick ratio of 1.4 indicates adequate liquidity. A debt-to-equity ratio of 0.7 demonstrates reasonable leverage.

The stock: Walter Energy has surged 268% this year, more than major U.S. indices. The stock trades at a price-to-earnings ratio of 9, a discount to the market, and metal and mining peers. Shares pay a 0.6% dividend yield.

The model upgraded TrustCo Bank ( TRST) to "buy."

The numbers: Third-quarter net income decreased 12% to $7.9 million and earnings per share fell 17% to 10 cents, hurt by a higher share count. Revenue declined 2% to $46 million. TrustCo's gross margin rose from 60% to 68%, but its net margin fell from 19% to 17%. The bank has an admirable financial position, with $264 million of cash, compared to $122 million of debt.

The stock: TrustCo has fallen 35% this year, trailing major U.S. indices. The stock trades at a price-to-earnings ratio of 17, a discount to the market and banking peers. Shares pay a 4.1% dividend yield.

-- Reported by Jake Lynch in Boston.

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