Analyst upgrades:- Deutsche Bank upgraded Portland General Electric (NYSE: POR) to Buy from Hold on valuation as it finds the risk/reward on shares attractive at current levels. The firm raised its target price to $22 from $20.
- FBR Capital upgraded Abercrombie & Fitch (NYSE: ANF) to Outperform from Market Perform after channel checks indicated recent sales are driving increased traffic and easing market share losses. The firm raised its target price on shares to $37 from $21.
- Barclays upgraded Yahoo (NASDAQ: YHOO) to Overweight from Equal Weight as it believes the company is well positioned for a rebound in advertising and that the valuation is compelling at current levels. The firm raised its target on shares to $20 from $15.
- Kohl's (NYSE: KSS) was raised to Overweight from Market Weight at Thomas Weisel.
- U.S. Steel (NYSE: X) and CB Richard Ellis (NYSE: CBG) were upgraded at Goldman to Neutral from Sell.
- Dolby Laboratories (NYSE: DLB) was upgraded at JP Morgan to Overweight from Neutral.
Analyst downgrades:
- Auriga downgraded Leap Wireless (NASDAQ: LEAP) to Sell from Hold on valuation as it sees reduced takeover prospects following the company's secondary offering. The firm has a $29 target on the stock.
- Goldman expects Sara Lee (NYSE: SLE) to face pressure in Western European sales and price cuts in the U.S. The firm downgraded shares to Sell from Neutral.
- Barclays downgraded Venoco (NYSE: VQ) to Equal Weight from Overweight. The firm cites valuation for the downgrade. The firm raised its target to $7 from $6.
- Cintas (NASDAQ: CTAS) and UniFirst (NYSE: UNF) were downgraded to Neutral from Outperform at Baird.
- Coventry Health (NYSE: CVH) was downgraded to Neutral from Buy at UBS.
- Amylin Pharma (NASDAQ: AMLN) was downgraded to Hold from Add at Natixis.
- Keefe Bruyette sees limited near-term upside in Stancorp (NYSE: SFG) shares due to concerns over the company's commercial mortgage portfolio and the impact of the economy on disability claims. Shares were initiated with a Market Perform rating and $36 target.
- Jefferies is positive on Brigham Exploration's (NASDAQ: BEXP) leverage to the North Dakota Bakken Shale. The firm started shares with a Buy rating and $6.50 target.
- Giant Interactive (NYSE: GA) was initiated with an Overweight rating at Morgan Stanley.
- Pearson plc (NYSE: PSO) was initiated with a Buy rating at ING Group.
- Oshkosh Truck (NYSE: OSK) was initiated with a Neutral rating at Longbow.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
