Wachovia up after brokerage upgrade

NEW YORK (Reuters) - Shares of Wachovia Corp (WB.N: Quote, Profile, Research) rose more than 3 percent to $16.10 before the bell on Wednesday after a brokerage raised its rating on the stock, according to theflyonethewall.com.

Merrill Lynch raised its rating on Wachovia to "neutral" from "underperform," the website said.

(Reporting by Ellis Mnyandu, Editing by Kenneth Barry)