Analyst upgrades, downgrades and initiations: BP, DIS, JCG, MOS, POT, PSUN ...

Analyst upgrades:

Pacific Sunwear (NASDAQ: PSUN) was upgraded to Buy from Neutral by Pali Capital, which cited low expectations, new CEO experience, and compelling risk/reward for the upgrade.
RBC Capital raised Aruba Networks (NASDAQ: ARUN) to Outperform from Sector Perform, based on increased visibility into wireless networking products.
J. Crew (NYSE: JCG) was upgraded to Hold from Underperform by Needham after the company reported better-than-expected Q2 report and guidance.
RBC Capital raised Lundin Mining (NYSE: LMC) to Outperform from Sector Perform, citing updated copper forecasts and valuation.
Netezza (NYSE: NZ) was upgraded to Buy from Accumulate by ThinkEquity.
Sanofi-Aventis (NYSE: SNY) was raised to Overweight from Neutral by JPMorgan.
Williams-Sonoma (NYSE: WSM) was upgraded to Buy from Neutral by Goldman.
Network Engines (NASDAQ: NENG) was raised to Buy from Hold by Cantor.

Analyst downgrades:

UBS downgraded Mosaic (NYSE: MOS) to Neutral from Buy, citing valuation and more modest expectations for a potash demand recover.
Potash (NYSE: POT) was lowered to Neutral from Buy by UBS, due to valuation and more modest expectations for a potash demand recovery.
Atmos Energy (NYSE: ATO) was dropped to Hold from Buy by Argus, based on valuation.
KeyBanc dropped Cedar Fair (NYSE: FUN) to Hold from Buy due to weak operational trends and reduced likelihood of asset sales.
Realty Income (NYSE: O) was downgraded to Neutral from Buy by Janney Montgomery, based on valuation.
Cowen lowered Energy Conversion (NASDAQ: ENER) to Neutral from Outperform.
Raymond James lowered Limelight (NASDAQ: LLNW) to Underperform from Market Perform.
Morgan Stanley dropped Bristol-Myers (NYSE: BMY) to Equal Weight from Overweight.

Analyst initiations:

Jefferies initiated Agnico Eagle (NYSE: AEM) with a Buy rating, as the firm thinks that the company's stock will better reflect gold pricing and growth.
Disney (NYSE: DIS) was initiated with a Hold rating by Stifel Nicolaus, which cites valuation and the timing of a recovery in consumer spending.
Newmont Mining (NYSE: NEM) was initiated with a Buy rating by Jefferies, which thinks that the stock's valuation will increase as investors discount a higher value of gold going forward.
Dollar General (DG) was initiated with a Buy by SunTrust.
Coverage of Marvell Technology (NASDAQ: MRVL) was assumed with an Outperform by Credit Suisse.
BP (NYSE: BP) was started with an Outperform by Raymond James.