Analyst Ugrades- Stephens upgraded Old Dominion Freight (NASDAQ: ODFL) to Overweight from Equal Weight to reflect the financial problems at YRC Worldwide (NASDAQ: YRCW), which the firm believes could lead to market share gains. Stephens raised its target on Old Dominion Freight to $40 from $22.
- UBS expects SunPower (NASDAQ: SPWRA) to benefit from the U.S. residential solar segment as investment tax credits come available. The firm upgraded shares to Buy from Neutral and raised its target to $38 from $26.
- KeyBanc upgraded DPL (NYSE: DPL) to Buy from Hold based on valuation and potential upside from the Ohio approval of the rate settlement, 2010 guidance, and potential to use cash flow for accretive purposes.
- Microsoft (NASDAQ: MSFT) was upgraded to Conviction Buy from Buy at Goldman.
- Carnival (NYSE: CCL) was raised to Equal Weight from Underweight at Barclays.
- South Financial Group (NASDAQ: TSFG) was upgraded at SunTrust to Buy from Neutral.
Analyst Dwngrades
- UBS said LDK Solar's (NYSE: LDK) polysilicon project may impact cash flow and delay a profit recovery. The firm downgraded shares to Neutral from Buy and lowered its target to $14 from $22.
- UBS also downgraded RF Micro Devices (NASDAQ: RFMD) to Neutral from Buy based on valuation. Despite the downgrade, UBS raised its target to $3.75 from $3.
- Goldman downgraded VMware (NYSE: VMW) to Neutral from Conviction Buy but raised its target to $31 from $29 citing valuation.
- Merriman initiated Itron (NASDAQ: ITRI) with a Neutral rating. The firm prefers to wait for improved visibility into the resumption of Itron's revenue and earnings growth before getting more positive on the stock.
- SunTrust expects Arthur J. Gallagher (NYSE: AJG) to benefit from improving industry conditions and a margin recovery. Shares were started with a Buy rating and $27 target.
- Kaufman Bros. expects Priceline.com (NASDAQ: PCLN) to continue gaining market share despite the challenging travel environment. The firm assumed coverage with a Buy rating and $145 target.
- Edison International (NYSE: EIX) was initiated with a Buy rating at Soleil and $40 target.
- DigitalGlobe (NYSE: DGI) was initiated with a Neutral rating at SunTrust.
- OSI Pharmaceuticals (NASDAQ: OSIP) was initiated with a Perform rating at Oppenheimer.
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