Analyst upgrades, downgrades and initiations: GNA, CCE, BCS, SFD, TRI ...

Analyst upgrades:

Goldman upgraded Gerdau AmeriSteel (NYSE: GNA) to Buy from Neutral and has a $5.50 target on shares. Shares were upgraded due to the potential impact from infrastructure spending. Note that Goldman downgraded Steel Dynamics (NYSE: STLD) and Olympic Steel (NYSE: ZEUS) to Neutral from Buy.
Banc of America/Merrill upgraded Coca-Cola Enterprises (NYSE: CCE) to Buy from Neutral and raised the price target to $18 from $15. The firm the strong Q1 report gives them greater confidence in shares.
Roth Capital upgraded Halozyme (NASDAQ: HALO) to Buy from Hold due to increased clarity into Roche programs, the discontinuation of the chemophase program, and progress on insulin delivery.
American Movil (NYSE: AMX) was raised to Overweight from Neutral at JP Morgan and to Hold from Sell at Citigroup.
Barclays (NYSE: BCS) and Lloyds TSB Group (NYSE: LYG) were upgraded at HSBC to Overweight from Neutral.

Analyst downgrades:

Goldman downgraded Steel Dynamics (NYSE: STLD) and Olympic Steel (NYSE: ZEUS) to Neutral from Buy citing valuation. Note that Goldman upgraded Gerdau AmeriSteel (NYSE: GNA) to Buy from Neutral.
Barclays downgraded Smithfield Foods (NYSE: SFD) to Underweight from Equal Weight citing the potential impact on pork demand from the swine flu outbreak.
Stephens downgraded Ladish (NASDAQ: LDSH) to Equal Weight from Overweight to reflect deteriorating business fundamentals. The firm lowered its target on the stock to $9 from $15.
China BAK Battery (NYSE: CBAK) was cut to Hold from Buy at Roth Capital.
Watsco (NYSE: WSO) was lowered to Neutral from Buy at Piper Jaffray.
Zumiez (NYSE: ZUMZ) was downgraded at UBS to Sell from Neutral.

Analyst initiations:

Auriga believes upcoming product launches will transform Sequenom (NASDAQ: SQNM) from genetic analysis to molecular diagnostics, which is an attractive growth area. The firm started shares with a Buy rating and $20 target.
FTN Equity initiated TJX Companies (NYSE: TJX) with a Buy rating and $35 target, as it believes TJX can perform well in any economic environment.
The firm also assumed coverage of Ross Stores (NYSE: ROST) with a Neutral rating. The firm would become more positive on Ross shares following a pullback.
Grainger (NYSE: GWW) and Clean Harbors (NYSE: CLH) were initiated at Credit Suisse with Neutral ratings.
Thomson Reuters (NYSE: TRI) was assumed at Bernstein with a Market Perform rating and $29.50 target.
NetEase.com (NASDAQ: NTES) was initiated with an Outperform rating and $40 target at Bernstein.