Analyst upgrades:- Deutsche Bank upgraded AmerisourceBergen (NYSE:ABC) to Buy from Hold on valuation as it views the risk/reward as favorable at current levels. Deutsche raised its target price to $41.50 from $38.
- FBR Capigal upgraded Charlotte Russe (NASDAQ:CHIC) to Outperform from Market Perform following the company's Q2 results on expectations merchandise improvements and cost-cutting efforts will drive continued margin expansion. The firm raised its target on shares to $15 from $10.
- Oppenheimer upgraded Fidelity National (NYS:FIS) to Outperform from Perform as it believes the Metavante (MV) acquisition makes strategic sense and the stock's risk/reward is favorable. The firm's target price is $25.
- First American (NYSE:FAF) was upgraded to Outperform from Market Perform at Keefe Bruyette.
- Nokia (NYSE:NOK) was raised to Neutral from Underweight at JP Morgan.
- Parker-Hannifin NYSE:(PH) was lifted at Wachovia to Outperform from Market Perform.
Analyst downgrades:
- Deutsche Bank downgraded Sohu.com (NASDAQ:SOHU) to Sell from Hold and lowered their price target to $39 from $65 citing concerns regarding growth in on-line ads and games. The firm lowered estimates below the street and believes valuation implies optimistic expectations.
- Fox-Pitt downgraded JP Morgan (NYSE:JPM) to In Line from Outperform and lowered their price target to $38 from $40 based on valuation and reduced near-term expectations. The firm's estimate cuts reflect further credit deterioration in credit cards and consumer lending.
- RBC Capital downgraded Gmarket (NASDAQ:GMKT) to Sector Perform from Outperform following the acquisition announcement by eBay (NASDAQ:EBAY).
- Palm (NASDAQ:PALM) was cut to Hold from Buy at Morgan Joseph.
- PetSmart (PETM) was lowered to Buy from Conviction Buy at Goldman.
- Illinois Tool Works (NYSE:ITW) was downgraded to Hold from Buy at BB&T.
- Citigroup expects shares Superior Energy (NYSE:SPN) to rebound despite declining EPS in 2009 as investors focus on the next cycle. The firm started shares with a Buy rating and $20 target.
- Morgan Keegan initiated Whiting Petroleum (NYSE:WLL) with an Outperform rating. The firm is positive on the company's valuation and acreage position in the Bakken shale.
- Soleil believes the market is underestimating Intuit's (NASDAQ:INTU) ability to succeed in new markets. The firm assumed coverage with a Buy rating and $31 target.
- EnerNOC (NASDAQ:ENOC) was initiated at Janney Montgomery with a Neutral rating and $16.75 target.
- LabCorp (NYSE:LH) was assumed with a Buy rating and $75 target at Maxim.
- Kaiser Aluminum (NASDAQ:KALU) was initiated with a Hold rating at KeyBanc.
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