Analyst upgrades, downgrades and initiations: WFMI, HPQ, XOM, HAS ...

Analyst upgrades:

Jefferies upgraded Whole Foods (NASDAQ: WFMI) to Buy from Hold as it believes the company is taking the right steps to turn its operations around. The firm raised its target price to $13 from $11.
Pali upgraded Whole Foods to Buy from Sell following the Q1 report based on better than expected cost containment, labor costs, capex cuts, and plans to rationalize the store base.
Thomas Weisel upgraded Hewlett-Packard (NYSE: HPQ) to Overweight from Market Weight. The firm believes HPQ's risk/reward has improved given overdue reduced FY09 guidance and attractive valuation.
Bernstein upgraded Talisman (NYSE: TLM) to Outperform from Market Perform based on relative valuation.
Navistar (NYSE: NAV) was added to Goldman's Conviction Buy List.
Sovran Self Storage (NYSE: SSS) was upgraded to Perform from Underperform at Oppenheimer.
Suncor (NYSE: SU) was upgraded at Barclays to Overweight from Equal Weight.

Analyst downgrades:

Citigroup downgraded BioMarin (NASDAQ: BMRN) to Hold from Buy to reflect management's "disappointing" guidance and a lack of near-term catalysts. The firm lowered its target price to $17 from $22.
Collins Stewart downgraded BioMarin following the weak Q4 report and guidance to Hold from Buy.
Bernstein cut Occidental (NYSE: OXY) to Underperform from Market Perform citing relative valuation.
Morgan Joseph downgraded Jakks Pacific (NASDAQ: JAKK) to Hold from Buy following the weak Q4 report.
Comcast (NYSE: CMCSA) was removed from Goldman's Conviction Buy List.
Exxon Mobil (NYSE: XOM) was downgraded to Equal Weight from Overweight at Barclays and to Market Perform from Outperform at Bernstein.
LeapFrog (NYSE: LF) was lowered to Neutral from Buy at Piper Jaffray.

Analyst initiations:

Maxim recommends Questcor (NASDAQ: QCOR) based on Acthar's sustainable revenues, potential share buybacks and low valuation. Shares were initiated with a Buy rating and $11 target.
Morgan Joseph believes Hasbro (NYSE: HAS) is well positioned for growth given its strong stable of product lines and hit movie releases. Shares were started with a Buy rating and $28 target.
SAP (NYSE: SAP) was started at HSBC with a Neutral rating.
Keegan Resources (AMEX: KGN) was initiated at Canaccord with a Speculative Buy.