As previously reported, Morgan Stanley analyst Craig Hettenbach upgraded Maxim Integrated to Equal Weight from Underweight, contending that M&A headlines, such as those yesterday from CNBC, likely put a floor under the stock. He increased his price target on Maxim to $60 from $47, which he notes is below the rumored bid of $70 per share, as Hettenbach believes that if a deal is not announced the stock would have downside to $52 per share. Maxim closed up 12% yesterday at $66.27 per share, but is sliding in pre-market back to near $59 per share after Japan's Renesas said last night that it is not the source of CNBC's takeover report and called the report not true.