Analyst upgrades:
- FBR Capital upgraded Overseas Shipholding (NYSE: OSG) to Outperform from Market Perform following the Q3 results as it believes the worst quarters are behind the company. The firm raised its target on shares to $48 from $35.
- Deutsche Bank upgraded Corporate Executive Board (NASDAQ: EXBD) to Hold from Sell following the Q3 results to reflect the company's lower costs. The firm raised its target on shares to $22 from $18.
- RBC Capital upgraded Enbridge (NYSE: EEQ) to Sector Perform from Underperform after the company's partnership produced significantly higher than expected DCF. In addition, the firm raised its price target by $5 per unit to $46 to reflect an improved distribution schedule and more favorable debt leverage.
- Royal Dutch Shell (NYSE: RDS.A) was upgraded to Neutral from Underperform at Credit Suisse.
- BioForm Medical (NASDAQ: BFRM) was upgraded to Overweight from Neutral at Piper Jaffray.
- Alliance Data Systems (NYSE: ADS) was upgraded to Buy from Neutral at SunTrust.
Analyst downgrades:
- Goldman downgraded Affiliated Managers (NYSE: AMG) to Neutral from Buy based on relative valuation.
- Morgan Stanley downgraded Nvidia (NASDAQ: NVDA) to Underweight from Equal Weight, citing risks from its transition to the handset and mobile entertainment device markets. The firm has a $9 target on the stock.
- Diedrich Coffee (NASDAQ: DDRX) was cut to Hold from Buy at Roth Capital after Diedrich agreed to be acquired by Peet's Coffee (NASDAQ: PEET) for $26/share.
- Carmike Cinemas (NASDAQ: CKEC) was downgraded to Neutral from Buy at Merriman.
- Park-Ohio Holdings (NASDAQ: PKOH) was downgraded to Hold from Buy at Morgan Joseph.
- American Commercial (NASDAQ: ACLI) was downgraded to Hold from Buy at Stifel Nicolaus.
Analyst initiations:
- Deutsche Bank believes Ener1 (NASDAQ: HEV) can become a key player in the market for automotive advanced lithium ion batteries. The firm initiated shares with a Buy rating and $11 target.
- Needham initiated Vitacost.com (NASDAQ: VITC) with a Buy rating and $13.50 target. The firm thinks the company will grow over the long term as it benefits from several trends, including the aging U.S. population, more awareness about health care, and the proliferation of online sales. The firm set a $13.50 target on the stock.
- Best Buy (NYSE: BBY) was initiated with a Buy rating and $46 target at UBS.
- Precision Drilling (NYSE: PDS) was initiated with an Outperform rating and $9 target at RBC Capital.
- Inverness Medical (NYSE: IMA) was initiated with a Buy rating and $47 target at Capstone.
- Artio Global (NYSE: ART) was started at Keefe Bruyette with an Outperform rating and $30 target, at BofA/Merrill with a Neutral rating and $25 target, and at Goldman with a Buy rating and $31 target.
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