BUZZ-Ocado bounces back on Dt Bank upgrade and short-covering

** Online grocer Ocado surges nearly 10 percent higher in solid volume, a day after falling 4.4 percent in the wake of its interim results.

** Traders say the stock is benefiting from an upgrade by Deutsche Bank (NYSE: DB-RI - news) , and on short-covering.

** According to data from Markit (Stuttgart: A1139A - news) , short interest in Ocado had been increasing ahead of its interim results, rising to just over 5 percent from 1 percent at the start of 2014.

** Deutsche Bank analysts write in a note that although Ocado's sales growth slowed down during the second quarter, they nevertheless upgrade their rating on the stock to "hold" from "sell", citing limited downside to their 330 pence price target on Ocado shares.

** In spite of Wednesday's rise, Ocado's shares remain down by around 12 percent since the start of 2014.

(RM (LSE: RM.L - news) :sudip.kargupta.thomsonreuters.com@reuters.net)