Analyst upgrades:- Jefferies upgraded Quicksilver (NYSE: KWK) to Buy from Hold as it believes the company has many options to resolve its liquidity crisis. The firm expects shares to move towards its $10 NAV estimate and raised its target price to $10 from $7.
- Deutsche Bank upgraded Omnicom Group (NYSE: OMC) to Hold from Sell following the Q1 results as the company's margins are holding up better than previously thought. The firm raised its target price on shares to $31 from $21.
- Deutsche Bank also upgraded Universal Health (NYSE: UHS) following the company's better than expected Q1 results. Shares were lifted to Buy from Hold and the firm raised its target on the stock to $60 from $45.
- Barclays (NYSE: BCS) was raised to Buy from Reduce at Nomura.
- Orient-Express (NYSE: OEH) was lifted to Neutral from Underweight at JP Morgan.
- CVS Caremark (NYSE: CVS) was upgraded at Goldman to Conviction Buy from Buy.
Analyst downgrades:
- UBS downgraded Brown-Forman (NYSE: BF.A) to Sell from Neutral citing recent share strength driven by Bacardi takeover speculation. The firm does not believe a deal is imminent and notes fundamentals remain weak.
- Jesup & Lamont downgraded BE Aerospace (NASDAQ: BEAV) to Hold from Buy to reflect management's outlook and a lack of near-term catalysts.
- Deutsche Bank downgraded Check Point (NASDAQ: CHKP) to Hold from Buy on concerns the company's guidance suggests its core business is slowing. The firm finds the risk/reward on shares balanced at current levels and keeps a $24 target on the stock.
- Alberto-Culver (NYSE: ACV) was lowered to Buy from Conviction Buy at Goldman.
- NetApp (NASDAQ: NTAP) was cut to Neutral from Buy at Banc of America.
- HelmerichPayne (NYSE: HP) and BJ Services (NYSE: BJS) were downgraded at JP Morgan to Underweight from Neutral.
- Deutsche Bank believes a large capital raise by Bank of America (NYSE: BAC) is possible following the stress test as it estimates the bank's tangible common equity at 1.8%, below regulators' target of at least 3%. Deutsche thinks a large capital raise could pressure shares and has a Hold rating and $8 target on the stock.
- Jefferies expects Discover (NYSE: DFS) to outperform peers in terms of credit and regain profitability in 2010. Shares were initiated with a Buy rating and $11 target.
- Maxim believes EnerSys (NYSE: ENS) is well positioned for an economic recovery given geographic and aftermarket diversity. Shares were assumed with a Buy rating and $21 target.
- Impax Labs (NASDAQ: IPXL) was started at Goldman with a Neutral rating and $6 target.
- Hansen Medical (NASDAQ: HNSN) was initiated at Piper Jaffray with a Buy rating and $6 target.
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