Merrill Upgraded at UBS; Says Mortgage-Loss Risks Are Priced Into Stock

(Bloomberg) -- Merrill Lynch & Co. was raised to
``buy'' from ``neutral'' at UBS AG, which said the stock was
inexpensive after concern about losses in credit businesses drove
down the price of the world's biggest brokerage.

The shares rose $1.05 to $71.10 in trading before the open
of U.S. exchanges. Merrill ended last week down 25 percent this
year, compared with a 13 percent decline for the Standard and
Poor's 500 Financials Index.


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