Analyst upgrades, downgrades and initiations: CBRL, INTC, LLY, RDS.A, NTDOY ...

Analyst upgrades:

Argus upgraded CBRL Group (NASDAQ: CBRL) to Buy from Hold as it believes increased efficiency at Cracker Barrel will help to boost restaurant traffic and same-store sales. The firm has a $33 target on shares.
Citigroup upgraded shares of Eli Lilly (NYSE: LLY) to Buy from Hold on expectations the company's blood-thinning drug Effient is on track for a Q2 U.S. launch. The firm raised its price target on shares to $41 from $36.
Needham upgraded Intel (NASDAQ: INTC) to Buy from Hold after recent channel checks suggested Intel's PC OEM orders are tracking better than expected. The firm expects Intel to keep prices and product mix stable, enabling margins to recover in Q2. Needham has an $18 target on INTC shares.
SEI Investments (NASDAQ: SEIC) was upgraded to Outperform from Market Perform at Keefe Bruyette.
Consolidated Edison (NYSE: ED) was raised at Jefferies to Buy from Hold.
Taleo (NASDAQ: TLEO) was lifted to Outperform from Perform at Oppenheimer.

Analyst downgrades:

Citigroup downgraded Royal Dutch Shell (NYSE: RDS.A) to Hold from Buy to reflect limited visibility in the company's capital expenditure reductions.
Morgan Stanley cut Volkswagen (OTC: VLKAY) to Underweight from Equal Weight to reflect their lowered earnings assumptions for the company's Audi and Scania divisions.
Banc of America/Merrill downgraded Lincoln National (NYSE: LNC) to Underperform from Neutral and lowered their target to $10 from $22 citing the company's credit exposure, capital position, and equity market risk.
Northeast Utilities (NYSE: NU) was lowered to Hold from Buy at Jefferies.
Aegon (NYSE: AEG) was downgraded to Sell from Neutral at UBS.
Schawk (NYSE: SGK) was downgraded at Baird to Underperform from Outperform.

Analyst initiations:

Baird expects AutoZone (NYSE: AZO) to post reliable growth from solid comps, despite the recession. Shares were initiated with an Outperform rating and $182 target.
BMO Capital started Biovail (NYSE: BVF) with a Market Perform rating and $12 target. The firm believes recent share gains reflect the company's turnaround progress.
Nintendo (OTC: NTDOY) was initiated with a Sell rating at Deutsche Bank, as the firm expects the company's profit to slow with a lack of new content.
Poniard Pharma (NASDAQ: PARD) was initiated with a Buy rating and $6 target at Needham.