ConAgra Foods (CAG - Get Report) was upgraded to outperform at RBC Capital. $54 price target. The company is trading at a discount to its peers but can expand gross margin in the coming quarters, RBC said.
Level 3 Communications (LVLT) was upgraded to overweight from neutral at JPMorgan. $55 price target. Market expectations are low and the company will likely announce a buyback program in the coming months, JPMorgan said.