Analyst upgrades, downgrades and initiations: ANDE, CAR, YUM, INTC, NKE ...

Analyst upgrades:

Stephens upgraded The Andersons (NASDAQ: ANDE) to Overweight from Equal Weight on expectations the company is benefiting from good space income opportunities and better ethanol profitability. The firm raised its target price to $31 from $28.
Jefferies upgraded NRG Energy (NYSE: NRG) to Buy from Hold as the analyst believes Exelon (NYSE: EXC) will have to materially raise its offer to close the acquisition. The firm raised its target on shares to $25 from $22.50.
FBR Capital upgraded FMC Technologies (NYSE: FTI) to Outperform from Market Perform after meeting with management to reflect the company's 2011 growth potential. The firm raised its target on shares to $51.
J. Sainsbury (OTC: JSAIY) was upgraded to Overweight from Equal Weight at Morgan Stanley.
SVB Financial (NASDAQ: SIVB) and Fulton Financial (NASDAQ: FULT) were upgraded to Outperform from Sector Perform at RBC Capital.

Analyst downgrades:

Citigroup downgraded LTX Credence (NASDAQ: LTXC) to Hold from Buy on valuation following the recent rally but raised its target price to 75 cents from 50 cents.
UBS downgraded Avis Budget (NYSE: CAR) to Sell from Neutral but raised its target to $1 from 50c citing valuation and potential violation of debt covenants in Q4.
RBC Captial downgraded UCBH Holdings (NASDAQ: UCBH) to Sector Perform from Outperform and lowered its target to $2 from $3 due to the uncertain earnings outlook and potential capital raise.
Sohu.com (NASDAQ: SOHU) was cut to Neutral from Buy at Nomura.
Eldorado Gold (AMEX: EGO) was downgraded to Neutral from Outperform at Credit Suisse.
Tele Norte Leste (NYSE: TNE) was downgraded to Hold from Buy at Deutsche Bank.

Analyst initiations:

Jefferies initiated Yum! Brands (NYSE: YUM) with a Hold rating and $38 target. The firm wants to see YUM's sales momentum in China come back before getting more positive on the stock.
Deutsche Bank believes MYR Group (NASDAQ: MYRG) is a good way to play the expected surge in transmission spending over the next decade. Shares were started with a Buy rating and $27 target.
RBC Capital expects First Horizon (NYSE: FHN) will outperform the banking group due to the company's stronger relative reserve level and strong capital position. The firm assumed shares with an Outperform rating and $15 target.
Intel (NASADAQ: INTC) was initiated with a Market Perform rating and $16.50 target at Bernstein.
Nike (NYSE: NKE) was initiated with a Perform rating at Oppenheimer.
NYSE Euronext (NYSE: NYX) was initiated with a Hold rating and $30 target at Deutsche Bank.