Analyst upgrades, downgrades and initiations: DIS, ED, RBS, X ...

Analyst upgrades:

Barclays believes Disney (NYSE: DIS) is the best positioned company for "media's digital evolution." The firm upgraded shares to Overweight from Underweight and has a $32 target on shares.
Oppenheimer upgraded Semtech (NASDAQ: SMTC) to Outperform from Perform after channel checks indicated improved inventory levels, better product mix, and market share gains. The firm set a $20 target on the stock.
RBC Capital expects Rigel's (NASDAQ: RIGL) R788 in RA to achieve its primary endpoint in the Phase II trials. Shares were upgraded to Sector Perform from Underperform and the price target was raised to $8 from $6.
WebMD (NASDAQ: WBMD) was upgraded to Accumulate from Sell at ThinkEquity.
International Game Tech (NYSE: IGT) was raised to Conviction Buy from Neutral at Goldman.
Infineon (NYSE: IFX) was lifted at Banc of America/Merrill to Buy from Neutral.

Analyst downgrades:

Jefferies downgraded Consolidated Edison (NYSE: ED) to Hold from Buy to reflect lower earnings assumptions. The firm cut its target price on shares to $40.50 from $41.
Citigroup downgraded Fifth Third Bancorp (NASDAQ: FITB) to Hold from Buy on valuation following the recent rally and concerns capital may need to be raised following the stress test.
Bernstein downgraded Wynn Resorts (NASDAQ: WYNN) to Market Perform from Outperform citing recent share strength. Despite the downgrade, the firm raised its price target on shares to $40 from $30.
Intercontinental Exchange (NYSE: ICE) was downgraded to Neutral from Outperform at Credit Suisse.
Federal-Mogul (NASDAQ: FDML) was cut to Buy from Conviction Buy at Goldman.
Royal Bank of Scotland (NYSE: RBS) was downgraded to Sell from Neutral at UBS.

Analyst initiations:

U.S. Steel (NYSE: X) was initiated with a Sell rating and $28.50 target at CLSA.
Oxford Industries (NYSE: OXM) was assumed at KeyBanc with a Hold rating.
Canaccord initiated EnteroMedics (NASDAQ: ETRM) with a Speculative Buy rating and $6 target.

Tags: dis, ed, etrm, fdml, fitb, ice, ifx, igt, oxm, rbs, rigl, smtc, wbmd, wynn, x