Analyst upgrades:
- Keefe Bruyette upgraded Affiliated Managers Group (NYSE: AMG) to Market Perform from Outperform to reflect the rebound in equity and fixed income markets as well as an attractive risk/reward profile. The firm raised its target on shares to $72 from $61.
- Jefferies upgraded AGCO Corp. (NYSE: AGCO) to Buy from Hold as it believes equipment sales in Brazil are holding up better than expected and farm stimulus should set a floor in sales. The firm raised its target on shares to $36 from $25.
- Deutsche Bank upgraded ArcelorMittal (NYSE: MT) to Buy from Hold to reflect reduced balance sheet risk and a more positive view on the steel sector. The raised its target on shares to $42 from $23
- Yahoo! (NASDAQ: YHOO) was upgraded to Buy from Hold at Citigroup.
- Synovus (NYSE: SNV) was raised to Buy from Neutral at SunTrust.
- First American (NYSE: FAF) was lifted to Overweight from Equal Weight at Stephens.
Analyst downgrades:
- Goldman downgraded Wal-Mart (NYSE: WMT) to Neutral from Conviction Buy and lowered its target to $56 from $58 due to lack of near-term catalysts, ongoing expense pressures, and difficult comps.
- Barclays said Lear's (NYSE: LEA) restructuring in or out of bankruptcy will leave shareholders with little value. The firm cut shares to Underweight from Equal Weight and lowered its target to 25 cents from $1.25.
- KeyBanc downgraded Hexcel (NYSE: HXL) to Hold from Buy citing concerns regarding the potential severity of the commercial aerospace downturn
- Rowan Companies (NYSE: RDC) was downgraded to Underperform from Neutral at Credit Suisse.
- Columbia Banking (NASDAQ: COLB) was downgraded to Market Perform from Outperform at JMP Securities.
- Abiomed (NASDAQ: ABMD) was downgraded to Neutral from Buy at UBS.
Analyst initiations:
- Pali Capital is positive on DirecTV's (NASDAQ: DTV) innovation and free cash flow growth. The firm started shares with a Buy rating and $32 target.
- Energizer (NYSE: ENR) was initiated with a Buy rating and $70 target at Goldman. Atheros was assumed with a Hold rating and $19 target at Canaccord.
- Broadridge (NYSE: BR) was started at Banc of America/Merrill with a Neutral rating.
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
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