Analyst upgrades, downgrades and initiations: AAPL, APC, CAB, DE, HOV, MVL ...

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Analyst upgrades:

  • FBR Capital upgraded Anadarko Petroleum (NYSE: APC) to Outperform from Market Perform to reflect upcoming catalysts and the company's opportunity in subsalt. FBR raised its target on shares to $60 from $50.
  • Citigroup upgraded Marvel (NYSE: MVL) to Hold from Sell on expectations the acquisition by Disney (NYSE: DIS) will close. The firm raised its target on shares to $50 from $31.
  • JPMorgan upgraded Cubic (NYSE: CUB) to Overweight from Neutral on expectations the company will benefit from the Vix ERG acquisition and increased sales visibility. The firm raised its target on shares to $43 from $38.
  • Siemens (NYSE: SI) was upgraded to Outperform from Market Perform at Bernstein.
  • Deutsche Telekom (NYSE: DT) was upgraded to Neutral from Underperform at Credit Suisse.
  • Thompson Creek (NYSE: TC) was upgraded to Sector Outperformer from Sector Performer at CIBC.

Analyst downgrades:

  • Stephens downgraded Cabela's (NYSE: CAB) to Equal Weight from Overweight to reflect slowing gun sales and tougher upcoming comps. The firm has a $17 target on the stock.
  • JPMorgan downgraded Deere (NYSE: DE) to Underweight from Neutral to reflect weakening agriculture fundamentals in the U.S. and tougher upcoming comps. The firm has a $39 price target on shares.
  • Credit Suisse downgraded Hovnanian (NYSE: HOV) to Underperform from Neutral. The firm cites eroding equity value from the company's write-downs and operating losses for the downgrade.
  • eHealth (NASDAQ: EHTH) was downgraded to Hold from Buy at Argus.
  • Harmony Gold (NYSE: HMY) was downgraded to Underweight from Neutral at JPMorgan.

Analyst initiations:

  • Piper Jaffray expects Nanometrics (NASDAQ: NANO) to outperform its semiconductor capital equipment peers given the company's broadening product portfolio and growing market share. The firm started shares with an Overweight rating and $9.50 target.
  • Wunderlich believes Williams Clayton Energy (NASDAQ: CWEI) can increase cash flow given the company's exploration prospects and oil-focused developmental drilling. Shares were assumed with a Buy rating and $35 target.
  • William Blair initiated Apple (NASDAQ: AAPL) with an Outperform rating after the close Wednesday. The firm believes Apple is "converting a new generation to its product," which should drive continued share gains in computers and smartphones.
  • Abercrombie & Fitch (NYSE: ANF) was initiated with a Market Perform rating at Raymond James.
  • Anixter (NYSE: AXE) was initiated with an Outperform rating at Morgan Keegan.
  • FMC Technologies (NYSE: FTI) was initiated with a Market Perform rating at BMO Capital.

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DJIA+150.2510,058.64
NASDAQ+24.822,150.87
S&P 500+13.781,070.52

Last updated: February 10, 2010: 02:10 AM

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