Analyst calls: AMGN, EDS, OVTI, V, MVL, ANF, LULU, URBN ...

Analyst upgrades:

Citigroup upgraded shares of Amgen Inc. (NASDAQ: AMGN) to Buy from Hold and raised the target price to $70 from $50 following AMGN's better-than-expected Q2 results and positive Dmab results.
Credit Suisse upgraded Electronic Data Systems (NYSE: EDS) to Neutral from Underperform and expects the Hewlett-Packard (NYSE: HPQ) transaction to close at the $25/share price.

Analyst downgrades:

JP Morgan downgraded OmniVision (NASDAQ: OVTI) to Neutral from Overweight citing slowing growth and increased competition, as well as the impact on margins.
Constellation Energy (NYSE: CEP) was downgraded at Lehman to Equal Weight from Overweight.
International Game Tech (NYSE: IGT) was downgraded to Market Perform from Outperform at Wachovia.

Analyst initiations:

KeyBanc said Visa's (NYSE: V) strengths are its recurring revenue model, significant pricing power, no consumer credit risk, operating leverage, expense flexibility, and considerable free cash flow, among other reasons. The firm initiated shares with a Buy rating and $94 target.
Regal Entertainment (NYSE: RGC) was assumed at Caris with an Average rating and $18 target. The firm sees tough comps ahead for the company and does not expect any meaningful price increases.
Caris also initiated Marvel Entertainment (NYSE: MVL), as they are positive on the company's new financing vehicle. Shares were initiated with a Buy rating and $45 target.
Goldman initiated textile, apparel and footwear stocks. Aeropostale (NYSE: ARO) and Urban Outfitters (NASDAQ: URBN) were initiated with Buy ratings, Lululemon (NASDAQ: LULU) and Abercrombie & Fitch (NYSE: ANF) were started with Neutral ratings and American Eagle (NYSE: AEO) was initiated with a Sell rating.