Analyst calls: HD, LUV, HAS, DRI, JNPR, BBI ...

Analyst upgrades:

Baird upgraded Dicks Sporting Goods (NYSE: DKS) to Outperform from Neutral based on valuation.
Home Depot (NYSE: HD) was raised to Market Perform from Underperform by Morgan Keegan.
Southwest Airlines (NYSE: LUV) was upgraded to Outperform from Market Perform by Avondale.

Analyst downgrades:

BMO Capital downgraded Hasbro (NYSE: HAS) to Underperform from Market Perform due to valuation and macro headwinds.
UBS dropped Darden Restaurants (NYSE: DRI) to Neutral from Buy because of slowing casual dining trends.
Goldman Sachs dropped Affiliated Computer (NYSE: ACS) to Neutral from Buy.
Goldman also downgraded Automatic Data Processing (NYSE: ADP) to Neutral from Buy.

Analyst initiations:

CIBC initiated Nortel Networks (NYSE: NT) with a Sector Performer rating based on what they see as the company's limited growth and margin prospects.
Needham initiated Juniper (NASDAQ: JNPR) with a Hold rating, citing valuation.
Blockbuster (NYSE: BBI) was initiated with a Hold by Needham, which would like to see if the company's turnaround is sustainable before becoming more constructive on the shares.

Tags: acs, adp, bbi, dks, dri, has, hd, inthenews, jnpr, luv, nt

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