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Analyst upgrades:- Barclays upgraded Best Buy (NYSE:BBY) to Overweight from Equal Weight and raised their target to $35 from $28 citing the company's earnings power and free cash flow generation.
- William Blair upgraded St. Jude Medical (NYSE:STJ) to Outperform from Market Perform following the company's Q4 results on valuation and the company's "steady growth."
- Wunderlich upgraded Liberty Interactive (NASDAQ:LINTA) to Buy from Hold as they believe debt concerns are overdone. The firm thinks that language in the proxy statement for the Liberty Entertainment hard spin suggests that cash and cash flow from the stub Entertainment tracker could be used to provide inter-company support to Interactive. The firm raised their target to $5 from $4.25.
- Lloyds TSB Group (NYSE:LYG) was raised to Buy from Hold at Citigroup.
- BB&T (NYSE:BBT) was removed from Goldman's Conviction Sell List.
- Patni Computer (NYSE:PTI) was upgraded to Buy from Hold at KeyBanc.
Analyst downgrades:
- Oppenheimer downgraded shares of Centene (NYSE:CNC) to Underperform from Perform as they believe the overhang from potential loss of business in Texas will pressure the stock. The firm lowered their target price to $16 from $19.
- Baird downgraded Kilroy Realty (NYSE:KRC) to Neutral from Outperform based on a more negative outlook for the California economy, slower lease-up of vacant space, and relative valuation to peer Douglas Emmett (NYSE:DEI).
- Citigroup downgraded Carpenter Technology (NYSE:CRS) to Hold from Buy following the company's Q2 results to reflect signs of demand deterioration in the aerospace and energy markets. The firm lowered their target price to $24 from $30.
- HelmerichPayne (NYSE:HP) and Seaspan (NYSE:SSW) were cut to Neutral from Buy at Goldman.
- Exxon Mobil (NYSE:XOM) was downgraded at UBS to Neutral from Buy.
- Maxim (NASDAQ:MXIM) was downgraded to Equal Weight from Overweight at Barclays.
- Keefe Bruyette initiated Indland Real Estate (NYSE:IRC) with a Market Perform rating and $11 target. The firm believes the company's portfolio offers stability in the current environment, but sees no upside catalyst.
- Novellus (NASDAQ:NVLS) and Lam Research (NASDAQ:LRCX) were assumed with Hold ratings and a $15 target and $20 target, respectively, at Wunderlich. Wunderlich expects weak semiconductor capital spending this year.
- Bernstein believes investor concerns regarding the Chinese economy and recent controversies impacting Internet in China are overdone and thinks Baidu.com (NASDAQ:BIDU) has sustainable competitive advantages. The firm started Baidu.com with an Outperform rating and $170 target.
- Granite Construction (NYSE:GVA) was initiated at Morgan Stanley with an Equal Weight rating.
- Haemonetics (NYSE:HAE) was started at Maxim with a Buy rating and $72 target.
- Anglo American (NASDAQ:AAUK) was initiated at RBC Capital with an Underperform rating.
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