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Analyst upgrades: - Janney Montgomery upgraded Aqua America (NYSE: WTR) to Buy from Neutral on valuation, viewing the recent weakness as a buying opportunity. The firm has a $19 target on the stock.
- UBS upgraded Gildan Activewear (NYSE: GIL) to Buy from Neutral due to customer Broder's improved liquidity and the improved outlook for margins.
- RBC Capital upgraded State Street (NYSE: STT) to Top Pick from Outperform and raised its target to $55 from $40. The analyst said the $2B capital raise addresses TCE ratio concerns and large unrealized losses in the investment portfolio.
- Sherwin-Williams (NYSE: SHW) was upgraded to Overweight from Neutral at JP Morgan.
- Advance Auto Parts (NYSE: AAP) was upgraded to Buy from Underperform at Banc of America/Merrill.
- M&T Bank (NYSE: MTB) was upgraded to Outperform from Market Perform at Bernstein.
Analyst downgrades:
- Oppenheimer downgraded eHealth (NASDAQ: EHTH) to Underperform from Perform to reflect risk from healthcare reform and weak internet traffic data. The firm lowered its target price to $14 from $16.
- Royal Bank of Scotland downgraded Akzo Nobel (OTC: AKZOY) to Sell from Hold on expectations sales will decline over the next two years.
- CIBC downgraded Methanex (NASDAQ: MEOH) to Sector Performer from Sector Outperformer. The firm said Chinese methanol producers may be leaning towards direct fuel blending of methanol vs. conversion to DME, due to safety issues.
- LifePoint Hospitals (NASDAQ: LPNT) was cut to Neutral from Buy at Goldman.
- Cogdell Spencer (NYSE: CSA) was downgraded to Underperform from Market Perform at BMO Capital.
- Soleil initiated United Therapeutics (NASDAQ: UTHR) with a Buy rating and $91 target. The firm expects near-term approvals for AdCirca and Tyvaso to serve as catalysts.
- William Blair expects hhgregg (NYSE: HGG) to benefit from consolidation in the consumer electronics retailing space. Shares were started with an Outperform rating.
- Embraer (NYSE: ERJ) was assumed with an Underperform rating and $16 target at Credit Suisse.
- Myriad Genetics (NASDAQ: MYGN) was initiated at Morgan Joseph with a Buy rating and $42 target.
- Willis Group (NYSE: WSH) was initiated with an Outperform rating and $32 target at Bernstein.
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