Analyst calls: RTP, INTC, VIA.B, TEF, BRCD, JBL, ERIC, CEPH ...

Analyst upgrades:

Citigroup upgraded shares of Ball (NYSE: BLL) to Buy from Hold and raised its target to $45 from $41 as they believe recent capacity closures will be positive for beverage can operating rates.
Deutsche Bank upgraded Rio Tinto (NYSE: RTP) to Buy from Hold on valuation and the company's plans to preserve cash.
ThinkPanmure upgraded Intel (NASDAQ: INTC) to Accumulate from Sell and raised its target to $17 from $12 citing trough earnings in 2009 and lowered expectations.
Viacom B (NYSE: VIA.B) was added to Goldman's Conviction Buy List.
Telefonica (NYSE: TEF) was upgraded to Outperform from Neutral at Credit Suisse.
Onyx Pharma (NASDAQ: ONXX) was raised to Overweight from Neutral at JP Morgan.

Analyst downgrades:

Jefferies downgraded shares of Foundry Networks (NASDAQ: FDRY) to Hold from Buy and lowered its target to $16.50 from $19.25 as they expect the Brocade (NASDAQ: BRCD) acquisition to close by year-end.
Merrill downgraded Ericsson (NASDAQ: ERIC) to Underperform from Buy based on valuation and a potential pre-announcement from the Sony Ericsson JV.
KeyBanc downgraded Pacer International (NASDAQ: PACR) to Underperform from Neutral based on softer-industry volumes and lower fuel prices that lag their fuel surcharge paid to underlying rail carriers.
eTelecare Global (NASDAQ: ETEL) was cut to Neutral from Outperform at Baird.
Fiat (OTC: FIATY) was lowered to Underweight from Overweight at Morgan Stanley.
Jabil Circuit (NYSE: JBL) was downgraded at Citigroup to Sell from Hold.

Analyst initiations:

Jefferies initiated Brocade (NASDAQ: BRCD) with a Hold rating and $3.50 target. The firm wants additional clarity on guidance post the Foundry (NASDAQ: FDRY) acquisition before becoming more positive on the stock.
Morgan Keegan is positive on National Healthcare's (NYSE: NHC) balance sheet and focus on offering high-acuity short-stay services at their nursing homes. Shares were assumed with an Outperform rating.
Cephalon (NASDAQ: CEPH) was initiated at Soleil with a Buy rating and $92 target. Soleil is positive on the company's diversified revenue base and growth drivers.
Washington Reit (NYSE: WRE) was started with a Neutral at JP Morgan.
Key Energy (NYSE: KEG) was initiated with a Neutral rating and $5.50 at UBS.
Alexion Pharma (NASDAQ: ALXN) was initiated with an Overweight rating and $44 target at Thomas Weisel.