Analyst upgrades, downgrades and initiations: BT, NFLX, AZN, PFE ...

Analyst upgrades:

Deutsche Bank upgraded BT Group (NYSE: BT) to Buy from Hold as it believes the company's Q4 results could remove uncertainty and cost cutting initiatives could drive upside.
Baird upgraded Stanley Works (NYSE: SWK) to Outperform from Neutral and raised their target to $42 from $34 citing valuation, solid execution, and growth potential.
Citigroup upgraded Netflix (NASDAQ: NFLX) to Buy from Hold as it believes the recent sell-off presents an attractive buying opportunity. The firm believes Netflix has one of the best earnings outlooks in the internet sector and increased its target price to $52 from $37.
AstraZeneca (NASDAQ: AZN) was upgraded to Buy from Neutral at UBS.
Joy Global (NYSE: JOYG) and Bucyrus (NYSE: BUCY) were raised to Buy from Neutral at Goldman.

Analyst downgrades:

Janney Montgomery downgraded Wilmington Trust (NYSE: WL) to Sell from Neutral as it recommends selling the stock on the Q4 results rally. The firm remains concerned about the company's exposure to construction loans and lowered its target on shares to $6 from $9.
Baird downgraded Joy Global (NYSE: JOYG) and Bucyrus (NYSE: BUCY) to Neutral from Outperform citing a peaking backlog and a demand recovery that could lag an economic upturn. Baird lowered its target price on Joy Global to $25 from $27 and on Bucyrus to $21 from $23.
UBS downgraded Turkcell (NYSE: TKC) to Neutral from Buy and lowered its target to $13 from $15 citing interconnection rate cuts and the Telecom Authority's recent ruling on-net prices, among other reasons.
Siliconware Precision (NYSE: SPIL) was cut to Equal Weight from Overweight at Morgan Stanley.
Sonic (NYSE: SONC) was lowered to Sell from Neutral at Goldman.
Kendle (NYSE: KNDL) was downgraded to Hold from Buy at Jefferies.

Analyst initiations:

Pfizer (NASDAQ: PFE) was initiated at Standpoint Research with a Buy rating and $20 target.
Piper Jaffray started Dolan Media (NASDAQ: DM) with a Buy rating and $15 target.
Thompson Creek (NYSE: TC) was initiated at JP Morgan with an Overweight rating.
RC2 Corp (NASDAQ: RCRC) was assumed at Baird with an Outperform rating and $12 target.
EPIQ Systems (NASDAQ: EPIQ) was initiated at KeyBanc with a Hold rating.