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Analyst upgrades:- Citigroup upgraded shares of Liberty Property Trust (NYSE:LRY) to Hold from Sell to reflect the company's capital raises and progress on leasing over the past quarter. The firm raised their target price to $21 from $16.
- UBS upgraded shares of Lonmin (Other OTC:LNMIY) to Neutral from Sell as they believe Xstrata may make an offer for the company.
- Cantor Fitzgerald upgraded RadiSys (NASDAQ:RSYS) to Buy from Hold after the company reported better-than-expected Q4 results and provided Q1 guidance which the firm believes indicates that fiscal 2009 results will be better than expected. The firm set a target of $8.50.
- Duke Energy (NYSE:DUK) and PG & E (NYSE:PCG) were raised to Outperform from Sector Perform at RBC Capital.
- Techne (NASDAQ:TECH) was upgraded at Baird to Outperform from Neutral.
Analyst downgrades:
- Global Hunter downgraded Echelon (NASDAQ:ELON) to Neutral from Buy to reflect their uncertainty about the company's Q4 results and 2009 outlook. The firm maintains a $9 price target.
- Deutsche Bank downgraded Cathay Pacific (Other OTC:CPCAY) to Sell from Hold to reflect decreasing demand for the company's premium classes.
- Wunderlich downgraded Disney (NYSE:DIS) to Sell from Hold following the company's Q1 results as they believe fundamental weakness in the broadcast segment, studio/film segment, and the Parks and Resorts segment will make shares underperform the broader market. The firm lowered their target price to $16 from $21.
- Public Service (NYSE:PEG) was lowered to Hold from Buy at Jefferies.
- Archer Daniels (NYSE:ADM) and Dollar Tree (NASDAQ:DLTR) were cut to Neutral from Overweight at JP Morgan.
- Black Hill (NYSE:BKH) was downgraded at RBC Capital to Underperform from Sector Perform.
- Cantor believes Starent Networks (NASDAQ:STAR) is well-positioned to benefit from the global rollout of 3G wireless data services. The firm initiated shares with a Buy rating and has a $19 target on the stock.
- Jefferies expects Winn-Dixie (NASDAQ:WINN) to Underperform over the next 12 months as they believe the company does not have margin flexibility to lower prices sufficiently to drive sales. The firm started shares with an Underperform rating and has a $7 target on the stock.
- ATP Oil & Gas (NASDAQ:ATPG) was initiated at Wunderlich with a Buy rating and $9.50 target. The firm expects the market to recognize the company's potential value as it sells additional assets.
- RBC Capital initiated Celgene (NASDAQ:CELG) and Calpine (NYSE:CPN) with Outperform ratings and a $65 target and $12 target, respectively.
- Genzyme (NASDAQ:GENZ) was assumed with a Buy rating and $84 target at Goldman.
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