Analyst downgrades:

• Baird downgraded Broadcom (NASDAQ: BRCM) to Neutral from Outperform based on valuation and believes that current order strength is not sustainable relative to true end-demand. The firm has a $30 target on the stock.
• Credit Suisse downgraded Comerica (NYSE: CMA) to Neutral from Outperform based on valuation and risk from its consumer and construction NPL/NCO book.
• JMP Securities expects Adobe's (NASDAQ: ADBE) acquisition of Omniture to close this year. Ominture (NASDAQ: OMTR) shares were cut to Market Perform from Outperform.
• L-3 Comm (NYSE: LLL) was downgraded to Conviction Sell from Neutral at Goldman.
• Edison International (NYSE: EIX) was downgraded to Market Perform from Outperform at Bernstein.
• Tata Motors (NYSE: TTM) was downgraded to Hold from Buy at Deutsche Bank.

Analyst initiations:

• Deutsche Bank expects Goldman Sachs (NYSE: GS) to generate superior earnings growth given its relative position in the industry coupled with improving capital market trends. The firm initiated the stock with a Buy rating and $220 price target.
• RBC Capital initiated Mosaic (NYSE: MOS) with an Outperform rating and $63 target. The firm believes concerns over the near-term potash outlook are already priced into Mosaic shares and that the phosphate market is poised for a rebound.
• Morgan Joseph believes that AutoZone (NYSE: AZO) is the best company in its sector and the firm thinks that investors' concerns about the company have been overblown, creating a buying opportunity. Morgan Joseph set a Buy rating and $175 target on the stock.
• Wells Fargo (NYSE: WFC) was initiated with a Sell rating and $20 target at UBS.
• Standard Microsystems (NASDAQ: SMSC) was initiated with a Market Perform rating at Morgan Keegan.
• Kimco Realty (NYSE: KIM) was initiated with a Neutral rating and $11.50 target at Janney Montgomery.