Analyst upgrades:- Jefferies upgraded MDS Inc. (NYSE: MDZ) to Buy from Hold on valuation as it believes shares are pricing in a "worst case" scenario at current levels. The firm keeps a $6.50 target on the stock.
- JP Morgan upgraded Continental (NYSE: CAL) to Overweight from Neutral on valuation as it believes the recent sell-off is overdone. The firm keeps a $13 price target on the stock.
- Thomas Weisel is positive on Allergan's (NYSE: AGN) diverse product portfolio, global infrastructure, vertical integration, and deep pipeline. The firm upgraded shares to Overweight from Market Weight and has a $54 target on the stock.
- NetLogic (NASDAQ: NETL) was upgraded to Buy from Neutral at Piper.
- Dover (NYSE: DOV) was raised to Buy from Neutral at Banc of America/Merrill.
- Map Pharmaceuticals (NASDAQ: MAPP) was upgraded at Argus to Hold from Sell.
Analyst downgrades:
- Thomas Weisel downgraded Obagi Medical (NASDAQ: OMPI) to Market Weight from Overweight due to exposure to consumer spending, competition, and lack of revenue visibility.
- ThinkEquity downgraded Data Domain (NASDAQ: DDUP) to Source of Funds from Buy and does not expect EMC's (EMC) offer to be topped.
- JP Morgan downgraded Kadant (NYSE: KAI) to Neutral from Overweight. The firm cites valuation for the downgrade with the stock above its $14 price target.
- Bankrate (NASDAQ: RATE) was cut to Hold from Buy at Citigroup.
- Juniper (NASDAQ: JNPR) was downgraded at UBS to Neutral from Buy.
- FirstEnergy (NYSE: FE) was lowered to Neutral from Buy at Banc of America/Merrill.
- Baird views Shaw's (NYSE: SGR) valuation as attractive given nuclear projects and strength in the infrastructure and environmental markets. The firm started shares with an Outperform rating and $35 target.
- Baird also initiated Jacobs Engineering (NYSE: JEC) with a Neutral rating and $48 target. The firm believes there is risk to Jacobs Engineering's earnings and guidance given potential project cancellations and delays.
- Oppenheimer initiated Taubman Centers (NYSE: TCO) with a Perform rating, citing consumer related concerns.
- Visa (NYSE: V) was initiated at Janney Montgomery with a Buy rating and $75 target.
- Ingram Micro (NYSE: IM) was assumed with a Neutral rating and $18 target at Goldman.
- Lockheed Martin (NYSE: LMT) was initiated at Morgan Keegan with an Outperform rating.
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