Notable Upgrades: BlackBerry (BBRY), Twitter (TWTR), Google (GOOG), QLogic (QLGC)

BlackBerry (BBRY) shares rose 3.7% to $9.86 in late afternoon trading after BGC Financial analyst Colin Gillis upgraded the company’s third quarter results, due to be reported on Friday. Gillis believes “The Passport” should increase BlackBerry’s profit margins and may help its Q3 results beat expectations. He raised his price target on the shares to $12.50 from $11. In the past 52 weeks, shares of Waterloo, Canada-based company have traded between a low of $6.01 and a high of $12.54. Shares are up 53.39% year-over-year and 27.82% year-to-date.

Shares of Twitter, Inc. (TWTR) edged up 0.70% to $35.36 in recent trade Wednesday after an upgrade to ‘Buy’ from ‘Hold’ at Pivotal Research Group. The bank also set its price target on the stock to $42 a share saying recent stock weakness — TWTR is down 37.94% yoy and 44.81% ytd — has been overdone. Twitter shares closed at $35.13 on Tuesday.

Shares of Google (GOOG) are up more than 6 points to $502 in recent trade Wednesday after the stock was upgraded to ‘Buy’ from ‘Hold’ with a $610 target price at Pivotal Research Group. The firm said Google’s ongoing margin erosion and capital uses are effectively priced in at the stock’s current levels. GOOG is down 6% year-over-year and roughly 10% over the past 12 months.

Shares of QLogic Corp. (QLGC) rallied 6.55% to $12.77 on Wednesday after an upgrade to ‘Overweight’ from ‘Equal-Weight’ at Morgan Stanley (MS). QLGC closed at $11.98 on Tuesday.

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