NEW YORK ( TheStreet) -TheStreet Ratings' stock model upgraded Fred's ( FRED) to 'Buy' from 'Hold'. Net income at this $432 million market cap, retailing pharmacy rose by 17% to $5 million in the second quarter of 2010 when compared to the year earlier quarter.

TheStreet Ratings released rating changes on 16 additional U.S. common stocks for August 31, 2010. In total, 11 stocks were downgraded and six stocks have been upgraded by our stock model.

Revenue at Fred's grew just 3.5% to $449 million in the second quarter, from the same quarter one year earlier. Learn more about Fred's: Company Profile, Income Statement, Balance Sheet, Stock Ratios, Analyst Ratings

Heading the other direction, being downgraded to 'Hold' from 'Buy', is SIFCO Industries ( SIF). The stock of this $53 million market capitalization, aerospace metalworking manufacturer, has lost 41% of its value since the end of March and is trading near the 52-week low of $10 a share. At SIFCO Industries, fiscal third quarter revenue declined 17% over the year earlier quarter which net income dropped 59% over the same period. Learn more about SIFCO: Company Profile, Income Statement, Balance Sheet, Stock Ratios, Analyst Ratings

-- Reported by Kevin Baker in Jupiter, Fla.

For additional Investment Research check out our Ratings Research Center.
Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.

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