Analyst upgrades, downgrades and initiations: GT, BCS, PAS, UPS, HSBC ...

Analyst upgrades:

Stephens upgraded Arris (NASDAQ: ARRS) to Overweight from Equal Weight following the company's Q1 results and raised its target on shares to $15 from $8.
Goldman upgraded Goodyear Tire (NYSE: GT) to Neutral from Sell and raised their target to $11 from $7 citing better earnings prospects and stabilizing volumes.
KeyBanc upgraded Parkway Properties (NYSE: PKY) to Hold from Underweight citing the company's improved balance sheet and valuation.
Digital River (NASDAQ: DRIV) was raised to Perform from Underperform at Oppenheimer.
Barclays (NYSE: BCS) was raised to Buy from Sell at Royal Bank of Scotland.
First Potomac (NYSE: FPO) was upgraded at RBC Capital to Sector Perform from Underperform.

Analyst downgrades:

Stephens downgraded Sequenom (NASDAQ: SQNM) to Equal Weight from Overweight after the company reported a wider than expected Q1 loss and delayed its Trisomy 21 test launch due to the discovery of employees mishandling of R&D test data and results. The firm cut its target on the stock to $6 from $30.
Jefferies downgraded MedAssets (NASDAQ: MDAS) to Hold from Buy on valuation following the company's Q1 results as it sees a lack of potential upside from current levels. The firm keeps an $18 target on the stock.
Oppenheimer downgraded Endo Pharmaceuticals (NASDAQ: ENDP) to Perform from Outperform following the company's Q1 results to reflect Lidoderm growth and pipeline concerns.
GSI Commerce (NASDAQ: GSIC) was cut to Neutral from Buy at Goldman and to Equal Weight from Overweight at Morgan Stanley.
PepsiAmericas (NYSE: PAS) was lowered to Neutral from Buy at UBS.
Baird downgraded Parkway Properties (NYSE: PKY) to Neutral from Outperform.

Analyst initiations:

Jesup & Lamont finds UPS (NYSE: UPS) fairly valued at current levels. The firm started shares with a Hold rating.
Soleil initiated Kindred Healthcare (NYSE: KND) and Sun Healthcare (NASDAQ: SUNH) with Hold ratings and a $15.50 target and $11.50 target, respectively. The firm is concerned and holds a cautious stance until the proposed Medicare reimbursement charges are announced.
BHP Billiton (NYSE: BHP) was initiated at RBC Capital with an Outperform rating.
Coca-Cola Femsa (NYSE: KOF) was assumed with an Outperform rating at Credit Suisse.
HSBC Holdings (NYSE: HBC) coverage was resumed with a Sell rating at Royal Bank of Scotland.
Thomas Weisel Partners (NYSE: TWPG) was initiated at Sandler O'Neill with a Hold rating and $4.75 target.