Analyst upgrades, downgrades and initiations: AAPL, BAC, FSLR, MWW ...

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Analyst upgrades:

  • Morgan Stanley upgraded shares of Apple (NASDAQ: AAPL) to Overweight from Equal Weight on expectations of continued iPhone growth. The firm raised its target on the stock to $180 from $105.
  • FBR Capital upgraded Bank of America (NYSE: BAC) to Market Perform from Underperform as it sees limited downside with half of the company's capital plan completed. The firm keeps a $12 target on the stock.
  • Jefferies upgraded Cash America (NYSE: CSH) to Buy from Hold to reflect a strengthened balance sheet following the capital raise and easing regulatory risk. The firm raised its target price to $30 from $22.
  • Ericsson (NASDAQ: ERIC) was upgraded to Outperform from Market Perform at Bernstein.
  • MB Financial (NASDAQ: MBFI) was raised to Outperform from Neutral at Baird.
  • Pinnacle West (NYSE: PNW) was upgraded at Credit Suisse to Outperform from Neutral.

Analyst downgrades:

  • FBR Capital downgraded First Solar (NASDAQ: FSLR) to Underperform from Market Perform after channel checks indicated falling polysilicon prices and weakening demand in Europe. The firm keeps a $110 target on the stock.
  • Oppenheimer downgraded Ariba (NASDAQ: ARBA) to Perform from Outperform on concerns of further lease write-downs and potential downsizing of upcoming contract renewals.
  • Thomas Weisel downgraded EXFO Electro-Optical (NASDAQ: EXFO) to Market Weight from Overweight on valuation but raised its target price to $5 from $4.
  • Legacy Reserves (NASDAQ: LGCY) was cut to hold from Buy at Citigroup.
  • Monster Worldwide (NYSE: MWW) was downgraded to Underperform from Market Perform at Wachovia.
  • Ultra Petroleum (NYSE: UPL) was downgraded to Underperform from Neutral at Credit Suisse.

Analyst initiations:

  • Jefferies believes Rosetta Stone (NYSE: RST) has a large growth opportunity in international markets. The firm started shares with a Buy rating and $34 target.
  • Bridgepoint Education (NYSE: BPI) was initiated with an Overweight rating at Credit Suisse, an Outperform rating and $20 target at Barrington, a Buy rating and $17 target at Piper Jaffray and a Neutral rating and $15 target at JP Morgan.
  • Citigroup expects TreeHouse's (NYSE: THS) growth to moderate in 2010. The firm initiated shares with a Hold rating and $31 target.
  • Cliffs Natural (NYSE: CLF) was initiated with a Buy rating and $30 target at Banc of America/Merrill.
  • Central European Distribution (NASDAQ: CEDC) was initiated with an Equal Weight rating at Morgan Stanley.
  • Acorda Therapeutics (NASDAQ: ACOR) coverage was resumed with a Buy rating at Piper Jaffray.

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Symbol Lookup
IndexesChangePrice
DJIA+150.2510,058.64
NASDAQ+24.822,150.87
S&P 500+13.781,070.52

Last updated: February 09, 2010: 08:03 PM

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