Analyst upgrades, downgrades and initiations

Analyst upgrades:

JMP Securities upgraded Salesforce.com (NYSE: CRM) to Outperform from Market Perform based on valuation.
Goldman Sachs upgraded Chico's (NYSE: CHS) to Neutral from Sell based on valuation.
Blue Coat (NASDAQ: BCSI) was raised to Hold from Sell by Brean Murray.

Analyst downgrades:

UBS dropped Burger King (NYSE: BKC) to Neutral from Buy due to the company's slowing sales trends and commodity pressure.
Las Vegas Sands (NYSE: LVS) was downgraded to Sell from Neutral by Banc of America based on valuation.
Pacific Sunwear (NASDAQ: PSUN) was downgraded to Neutral from Outperform by Baird, which cited the company's Q2 results and reduced guidance.

Analyst initiations:

UBS initiated O'Reilly (NASDAQ: ORLY) with a Buy because they are positive on its recent CSK Auto acquisition and its valuation.
Baird started Amedisys (NASDAQ: AMED) with an Outperform because they view the recent pullback in the shares as a compelling entry point.

Tags: AMED, BCSI, BKC, CHIC, CRM, LVS, ORLY, PSUN

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