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Analyst upgrades:- Goldman upgraded shares of Novartis (NYSE: NVS) to Buy from Neutral as they believe the Alcon (NYSE: ACL) acquisition has diversified the company's business.
- Tyson Foods (NYSE: TSN) was upgraded to Equal Weight from Underweight on valuation.
- JP Morgan raised Albermarle (NYSE: ALB) to Overweight from Neutral.
- BMO Capital upgraded Wynn Resorts (NASDAQ: WYNN) to Outperform from Market Perform.
- Synovus Financial (NYSE: SNV) was lifted to Buy from Hold at Sterne Agee.
- Morgan Stanley downgraded Reynolds American (NYSE: RAI) to Underweight from Equal Weight based on the impact from Altria's (NYSE: MO) purchase of competitor UST (NYSE: UST), which may result in pricing pressure.
- Goldman downgraded AstraZeneca (NYSE: AZN) to Sell from Neutral as they believe shares do not support near-term fundamentals.
- Max Capital (NASDAQ: MXGL) was downgraded to neutral from Buy at Banc of America.
- AudioCodes (NASDAQ: AUDC) was lowered at Merrill to Neutral from Buy.
- Pinnacle Financial (NASDAQ: PNFP) was downgraded to Neutral from Outperform at Baird.
Analyst initiations:
- Jefferies initiated Hain Celestial (NASDAQ: HAIN) with a Buy rating and $32 target. The firm believes the growing strength of the company's core natural and organic brand franchise should reveal itself over the next 12 months.
- Merriman thinks Solar Power (NASDAQ: SOPW) can generate a high-margin recurring revenue stream through the build-out of its Yes! Solar Solutions franchise business. Shares were assumed with a Buy rating.
- Oppenheimer started Teva Pharmaceutical (NASDAQ: TEVA) with an Outperform rating and $58 target and sees upside from continued growth in branded franchise and the company's generic injectable franchise, which they believe is underappreciated.
- SunTrust initiated tw telecom (NASDAQ: TWTC) with a Buy rating and $16 target. Baird.
- STEC Inc (NASDAQ: STEC) was initiated at Wachovia with a Market Perform rating.
- Banc of America assumed McAfee (NYSE: MFE) with a Neutral rating and $38 target and Symantec (NASDAQ: SYMC) with a Buy rating and $26 target.
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