Analyst upgrades:- Goldman upgraded BT Group (NYSE: BT) to Buy from Neutral on valuation and improved earnings visibility.
- Soleil upgraded shares of Jo Ann Stores (NYSE: JAS) to Buy from Hold following the company's Q2 upside surprise to reflect strong fundamentals and market share gains. The firm raised Jo Ann's target to $30 from $25.
- Amylin Pharma (NASDAQ: AMLN) was upgraded to Buy from Neutral at Merrill Lynch.
- Energen (NYSE: EGN) was upgraded to Buy from Neutral at UBS.
- Roth Capital downgraded shares of Warner Chilcott (NASDAQ: WCRX) to Hold from Buy pending patent clarity for the company's lead drug, Loestrin 24 for birth control. The firm lowered their target to $18 from $20.
- JP Morgan cut China Mobile (NYSE: CHL) to Underweight from Overweight as they believe increased competition may limit earnings growth.
- Cantor downgraded shares of Cell Genesys (NASDAQ: CEGE) to Hold from Buy following the termination of the VITAL-2 Phase III clinical trial. The firm also lowered their target to $2 from $10.
- Coca-Cola (NYSE: KO) was lowered to Neutral from Outperform at Credit Suisse.
- Gilead Sciences (NASDAQ: GILD) was downgraded to Equal Weight from Overweight at Lehman.
- Cinemark (NYSE: CNK) was downgraded at BMO Capital to Market Perform from Outperform.
Analyst initiations:
- Caris believes STEC Inc's (NASDAQ: STEC) competitive landscape continues to intensify, starting shares with an Average rating and $10 target.
- Dreamworks (NYSE: DWA) was initiated at William Blair with a Market Perform rating. The firm believes the company's movies have long-term staying power in family libraries.
- GSE Systems (NYSE: GVP) was initiated at Jesup & Lamont with a Neutral rating and $7.25 target.
- JP Morgan assumed Nestle (NASDAQ: NSRGY) with a Neutral rating.
- Twin Disc (NASDAQ: TWIN) was started at Baird with a Neutral rating and $21 target.
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