Holly (HOC) was upgraded from Sell to Hold at Deutsche. $45 price target. The previous Sell rating was based upon the stocks relative valuation, however, due to a recalculation of the net asset value and the company's attractiveness as a consolidation candidate the stock is now upgraded to Hold

Goldman Sachs said it is downgrading Holly (HOC) to Neutral from Buy based on refining exposure. See continuing weakness in U.S. gasoline market and prefer risk/reward in FTO, VLO and SUN. HOC target down to $54 from $63.

Petroleum refiner Holly Corp. recently announced it expanded its buyback program by $200 million.

Friedman, Billings, Ramsey analyst Eitan Bernstein upgraded the stock to "Outperform" from "Market Perform." He left his $65 per share price target unchanged.

Holly (HOC) was upgraded to Buy rating from Neutral at UBS. FY 2008 eps estimates rise to $4.04 from $3.72 while price target dips to $62 from $69.

Guy Adami gave out high-flyer Holly Corporation (HOC).

FBR said that is is upgrading Holly Corporation (HOC) to Outperform from Market Perform based on valuation. Cites recent sell-of is an overreaction to current market conditions. Maintained $65 target price.

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Holly (HOC) was upgraded from Sell to Hold, Deutsche Bank said. $58 price target. Valuation call, as refining margins are quickly pulling back from peak levels.