UPDATE 1-Delphi shares rise after analyst upgrade

Newswire

(Updates stock action in first and third paragraphs) DETROIT, Sept 23 (Reuters) - Delphi Corp.'s shares rose 11.5 percent on Friday after Merrill Lynch upgraded the stock because it expects the largest U.S. auto parts maker to avoid bankruptcy. Merrill Lynch analyst John Casesa said in a research note he also was raising his rating to "buy" from "neutral" because the company's stock has declined 49 percent since late August. He also set a price target of $6.50 a share. Delphi shares ...

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