Analyst upgrades:- Deutsche Bank upgraded Freeport McMoRan (NYSE: FCX) to Buy from Hold to reflect the company's better than expected Q3 results and improved volume outlook. Deutsche raised its target on shares to $100 from $72.
- Thomas Weisel upgraded Motorola (NYSE: MOT) to Overweight from Market Weight and raised its target to $11 from $7 and said they expect Motorola to benefit from several upcoming catalysts that include new Android-based smartphone products and they believe the handset division could break even by year end of 2010.
- Janney Montgomery upgraded Regal Entertainment (NYSE: RGC) and Cinemark (NYSE: CNK) to Buy from Neutral on expectations both companies will benefit from a strong box office in Q4. The firm has a $14 price target on Regal shares and a $13.50 target on Cinemark shares.
- Marshall & llsley (NYSE: MI) was upgraded to Neutral from Underweight at JPMorgan.
- F5 Networks (NASDAQ: FFIV) was upgraded to Neutral from Sell at UBS.
- William Blair upgraded Lindsay Corporation (NYSE: LNN) to Outperform from Market Perform.
Analyst downgrades:
- Citigroup downgraded Equinix (NASDAQ: EQIX) to Hold from Buy following the company's Q3 results to reflect concerns of decelerating revenue growth.
- JPMorgan downgraded PEPCO Holdings (NYSE: POM) to Underweight from Neutral. The firm believes the outlook for the company's unregulated power plant arm, Conectiv Energy, is challenging and lowered its target on shares to $13 from $14.
- KeyBanc downgraded Berry Petroleum (NYSE: BRY) to Hold from Buy based on valuation and lack of near-term catalysts.
- Flir Systems (NASDAQ: FLIR) was downgraded to Hold from Buy at Morgan Joseph.
- UBS downgraded Chesapeake (NYSE: CHK) to Neutral from Buy.
- SAP AG (NYSE: SAP) was downgraded to Neutral from Buy at BofA/Merrill.
- Soleil finds Andersons (NASDAQ: ANDE) fairly valued over the near term. Shares were started with a Hold rating and $38 target.
- Credit Suisse initiated Monsanto (NYSE: MON) with a Neutral rating and $88 target.
- Anglo American (OTC: AAUK) was reinitiated with a Buy rating at Goldman.
- Quanta Services (NYSE: PWR) was assumed at JP Morgan with an Overweight rating and $27 target.
- Ormat Tech (NYSE: ORA) was initiated with a Buy rating and $48 target at BofA/Merrill.
- Health Management (NYSE: HMA) was initiated with a Neutral rating at Pali Capital.
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