The upgraded recommendation, announced today, didn't increase interest in buying of selling the stock, which remained unchanged from Thursday at $30.62 on volume of just 26,000 shares. Average daily volume is 123,000 shares.

BRE Properties has been garnering attention lately for its efforts to capitalize on the trend toward broadband Internet connections and property management automation software. BRE wants to transform its holdings into "smart" properties that it hopes it will generate increased tenant interest, Web profits and requests for its services by other apartment owners.

BRE's efforts, called "Project Velocity," was launched in March and spun off in August as VelocityHSI, a Walnut Creek, California-based high-speed Internet access provider. According to sources, VelocityHSI will close deals soon to wire more than 100,000 apartments.

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