Analyst upgrades, downgrades and initiations: BP, CMCSA, GLW, MAR, RIMM, TIF, TJX ...

Analyst upgrades:

UBS upgraded Corning (NYSE: GLW) to Buy from Neutral and raised its target to $19 from $18.50, citing the improved LCD supply-demand outlook and improved sell-through ahead of the holiday season in China.
Credit Suisse upgraded Newfield Exploration (NYSE: NFX) to Outperform from Neutral and raised its target to $48 from $44 citing valuation and improved asset quality.
Stifel upgraded Newfield Exploration and Ultra Petroleum (NYSE: UPL) shares to Buy from Hold based on strong fundamentals and a long-term positive view for the E&P sector. The firm has a $50 target on Newfield and a $58 target on Ultra Petroleum.
TJX Companies (NYSE: TJX) was upgraded to Conviction Buy from Buy at Goldman.
General Mills (NYSE: GIS) was upgraded to Overweight from Equal Weight at Morgan Stanley.
Coca-Cola Femsa (NYSE: KOF) was upgraded to Buy from Neutral at BofA/Merrill.

Analyst downgrades:

Credit Suisse downgraded Devon Energy (NYSE: DVN) to Underperform from Neutral citing the reduced drilling activity and its impact on 2010 drilling volumes. The firm raised its target to $59 from $54.
Jefferies downgraded Arris (NASDAQ: ARRS) to Underperform from Hold on concerns the company's margins and sales will be pressured as Comcast (NASDAQ: CMCSA) wraps up its initial 3.0 rollout early next year. The firm lowered its target on shares to $9.50 from $12.
Zimmer Holdings (NYSE: ZMH) was downgraded to Neutral from Buy at UBS, as the firm does not expect Zimmer's unit growth to normalize before 2010. The firm raised its target to $56 from $55.
International Game Tech (NYSE: IGT) was downgraded to Buy from Conviction Buy at Goldman.
BP Plc (NYSE: BP) was cut to Hold from Buy at RBS.
Australia and New Zealand Banking (OTC: ANZBY) was downgraded to Hold from Buy at Citigroup.

Analyst initiations:

Citigroup assumed Tiffany (NYSE: TIF) with a Buy rating and $50 target. The firm expects Tiffany's same-store sales to be positive in Q4, driving shares higher.
Wells Fargo believes Allscripts (NASDAQ: MDRX) is well positioned to benefit from a potential increase in physician adoption of electronic health record over the next several years. The firm started shares with an Outperform rating.
Collins Stewart initiated Marriott (NYSE: MAR) with a Hold rating and expects Marriott's unit growth to slow beginning in 2010.
Allergan (NYSE: AGN) was initiated with a Neutral rating at JPMorgan.
Research in Motion (NASDAQ: RIMM) was initiated with an Underperform rating and $60 target at Bernstein.
tw telecom (NASDAQ: TWTC) was initiated with an Outperform rating and $16 target at RBC Capital.