Analyst upgrades, downgrades and initiations: VIA, RIMM, ARO, JPM, BMY

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Analyst upgrades:
  • Piper Jaffray upgraded Viacom (NYSE:VIA) to Overweight from Neutral to reflect the improving ad market and better ratings at key cable networks. The firm raised its target on shares to $35 from $29.
  • Baird upgraded Research in Motion (NASDAQ:RIMM) to Outperform from Neutral on valuation as it views the recent weakness as a buying opportunity. The firm keeps an $84 price target on shares.
  • Jefferies upgraded Usana (NASDAQ:USNA) to Buy from Hold as it believes direct selling companies have been gaining momentum. The firm raised its target on shares to $44 from $37.
  • AK Steel (NYSE:AKS) was upgraded to Buy from Hold at Deutsche Bank.
  • First Merit (NASDAQ:FMER) was upgraded to Perform from Underperform at Oppenheimer.
  • Spectra Energy (NYSE:SE) was upgraded to Conviction Buy from Neutral at Goldman.


Analyst downgrades:
  • Goldman downgraded Aeropostale (NYSE:ARO) to Sell from Neutral on valuation and decelerating store profit growth concerns. The firm has a $41 target on shares.
  • Citigroup downgraded Zimmer (NYSE:ZMH) to Hold from Buy on valuation and concerns that a recovery in the orthopedic market is taking longer than expected. Despite downgrading, Citi raised its target on shares to $56 from $52.
  • RBC Capital downgraded Odyssey Re (NYSE:ORH) to Sector Perform from Outperform as it expects the acquisition of the company to close by the middle of Q4. The firm set a $65 target.
  • Starwood Hotels (NYSE:HOT) and Marriott (NYSE:MAR) were downgraded to Hold from Buy at Soleil.
  • Assurant (NYSE:AIZ) was downgraded to Neutral from Buy at SunTrust.
  • ArcelorMittal (NYSE:MT) was downgraded to Hold from Buy at RBS.
Analyst initiations:
  • Wells Fargo expects Bristol-Myers' (NYSE:BMY) new product flow and strategic repositioning to drive above average growth. The firm has an Outperform rating and $25-$27 valuation range on shares.
  • RBC Capital initiated Vertex (NASDAQ:VRTX) with an Outperform rating and $43 target. The firm thinks the company is well-positioned to become profitable over the next two years.
  • Roth Capital believes China Natural Gas (NASDAQ:CHNG) is well positioned to benefit from government efforts to develop a clean fuel sector. The firm started shares with a Buy rating and $18 target.
  • JP Morgan (NYSE:JPM) was initiated with a Strong Buy rating and $60 target at Raymond James.
  • Cree (NASDAQ:CREE) was initiated with an Overweight rating at JP Morgan.
  • Dean Foods (NYSE:DF) was initiated with a Hold rating at KeyBanc.
Symbol Lookup
IndexesChangePrice
DJIA+150.2510,058.64
NASDAQ+24.822,150.87
S&P 500+13.781,070.52

Last updated: February 10, 2010: 02:01 AM

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