Analyst downgrades:

• Oppenheimer downgraded Dearborn Bancorp (NASDAQ: DEAR) to Perform from Outperform as it believes the company will need to raise additional capital to absorb future losses.
• KeyBanc downgraded Under Armour to Underweight from Hold on concerns higher markdowns and return reserves will pressure margins. The firm recommends a pair trade of long Lululemon, short Under Armour.
• Deutsche Bank downgraded Regions Financial (NYSE: RF) to Hold from Buy. The firm downgraded shares on valuation following the recent outperformance and concerns that construction and commercial real estate will become increasingly difficult for the banks. Deutsche has a $5 target on shares.
• PetSmart (NASDAQ: PETM) was downgraded to Neutral from Outperform at Credit Suisse.
• Brandywine Realty (NYSE: BDN) was downgraded to Neutral from Buy at BofA/Merrill.
• AstraZeneca (NYSE: AZN) was downgraded to Hold from Buy at Citigroup.

Analyst initiations:

• Barclays named Priceline.com (NASDAQ: PCLN) its Top Pick in Online Travel. Shares were initiated with an Overweight rating and $180 target.
• Mariner Energy (NYSE: ME) was initiated with an Outperform rating and $16 target at Credit Suisse.
• Newell Rubbermaid (NYSE: NWL) was initiated with an Equal Weight rating and $16 target at Morgan Stanley.
• Marvel (NYSE: MVL) was initiated with a Market Perform rating at BMO Capital.
• Digital Realty (NYSE: DLR) was assumed with a Buy rating and $48 target at BofA/Merrill.
• Tyler Technologies (NYSE: TYL) was initiated with an Outperform rating at William Blair.