Tyco (TYC +0.3%) receives an upgrade to Outperform from Barclays a day after agreeing to merge...

|About: Tyco International Ltd. (TYC)|By:, SA News Editor

Tyco (TYC +0.3%) receives an upgrade to Outperform from Barclays a day after agreeing to merge with Flow Control division with Pentair (PNR). The division, which accounted for roughly 1/3 of Tyco's FQ1 operating income, is the company's "least attractive standalone asset," says Barclays, and getting rid of it in a deal that effectively amounts to a sale improves Tyco's risk profile.