* Center Financial (CLFC 6.30) upgraded to Outperform from Market Perform at Keefe, Bruyette; raises tgt to $8 from $5.
* Thoratec (THOR 36.29) upgraded to Outperform from Market Perform at Wells Fargo
* Spirit AeroSystems (SPR 22.20) upgraded to Outperform from Neutral at Credit Suisse
* Varian Semiconductor Equipment Associates (VSEA 35.22) upgrded to Buy from Hold at Deutshe Bank; raises tgt to $42 from $27.
* El Paso Electric (EE 21.23) upgraded to Buy from Hold at Jefferies, based on valuation. Firm believes co may announce a rate settlement in TX with in the next week; raises tgt to $25 from $22.