UPDATE: Jefferies Upgrades Winn-Dixie Stores to Buy

Jefferies is out with its report today on Winn-Dixie Stores (NASDAQ: WINN), upgrading WINN from Hold to Buy. In a note to clients, Jefferies writes, "We are upgrading WINN to Buy from Hold as we believe sales trends continue to improve. Indeed, our research, including proprietary surveys and industry sources, suggests IDs could be running over 2%. Cycling the Gulf oil spill, moreover, is also providing a sales lift, perhaps even more than expected, according to our research." Jefferies raises its PT on WINN from $8.50 to $10.50. At the time of posting, shares of WINN were trading pre-market at $8.64, up 4.10% from Tuesday's close.