Analyst downgrades:

• Citigroup downgraded Valueclick (NASDAQ: VCLK) to Sell from Hold following the company's Q2 results due to declines in the Lead Generation segment and competition concerns. Citi lowered its target on shares to $10 from $13.
• RBC Capital downgraded Genzyme (NASDAQ: GENZ) to Sector Perform from Outperform and lowered its target to $56 from $65 citing ongoing regulatory risk and on-time approval of 4000L.
• Piper downgraded Dolan Media (NYSE: DM) to Neutral from Overweight following the company's Q2 results on concerns earnings growth will decelerate as foreclosure volumes peak.
• Archer Daniels Midland (NYSE: ADM), Simon Property (NYSE: SPG) and Kimco Realty (NYSE: KIM) were downgraded to Perform from Outperform at Oppenheimer.
• PPL Corp. (NYSE: PPL) was downgraded to Equal Weight from Overweight at Barclays.

Analyst initiations:

• Jefferies initiated AnnTaylor (NYSE: ANN) with a Hold rating and $12 target. The firm wants to see AnnTaylor's declining sales stabilize before getting more positive on the stock.
• Jefferies sees compelling value in Omnicom (NYSE: OMC) shares given the company's advertising assets. The firm started shares with a Buy rating and $40 target.
• Aruba Networks (NASDAQ: ARUN) coverage was assumed with a Neutral rating at Goldman.
• Research In Motion (NASDAQ: RIMM) was initiated with a Positive rating and $94 target at Susquehanna.
• Monsanto (NYSE: MON) was initiated with a Hold rating and $94 target at Canaccord.
• Invesco Mortgage (NYSE: IVR) was initiated with a Hold rating at Stifel Nicolaus.