Analyst downgrades:

• Kaufman Bros. assumed coverage of The Knot (NASDAQ: KNOT) and downgraded the stock to Hold from its previous Buy rating. The firm expects macro weakness to pressure the company's national advertising and publishing segments in the near-term.
• JP Morgan downgraded Big Lots (NYSE: BIG) to Neutral from Overweight ahead of the company's Q1 results as it believes a beat is already priced into shares and that Q2 commentary could be cautious. The firm lowered its target price to $27 from $28.
• UBS downgraded BioMed Realty Trust (NYSE: BMR) to Neutral from Buy and lowered its target to $11 from $14 citing lower earnings due to dilution from the recent capital raise.
• Marathon Oil (NYSE: MRO) was downgraded to Equal Weight from Overweight at Barclays.
• Raven (NASDAQ: RAVN) was cut to Neutral from Buy at Piper Jaffray.
• CTC Media (NASDAQ: CTCM) was downgraded to Neutral from Buy at Goldman.

Analyst initiations:

• Kaufman Bros. initiated Google (NASDAQ: GOOG) with a Buy rating and $500 target. The firm believes search can return to low- to mid-teens growth in 2010 and expects greater contribution from YouTube and display advertising.
• Oppenheimer started Advance Auto Parts (NYSE: AAP) with an Underperform rating and $39 target citing weakening trends in the aftermarket automotive retail sector and valuation risk.
• Pali believes Sysco (NYSE: SYY) is well positioned to be benefit once the consumer environment turns and finds the current valuation an attractive entry point. Shares were assumed with a Buy rating and $28 target.
• GMX Resources (NASDAQ: GMXR) was initiated with a Buy rating and $20 target at Banc of America/Merrill.
• Bridgepoint Education (NYSE: BPI) was initiated with an Outperform rating at William Blair.
• Michael Baker (AMEX: BKR) was started with a Buy rating and $45 target at KeyBanc.