Analyst upgrades:
- Oppenheimer upgraded Viacom (NYSE: VIA, VIA.B) to Outperform from Perform following the better-than-expected Q3 results to reflect an improving outlook for all the company's segments. The firm raised its target on shares to $36.
- Deutsche Bank upgraded C.R. Bard (NYSE: BCR) to Buy from Hold on expectations the company's underlying growth trends will improve. The firm raised its target on shares to $88 from $78.
- Wells Fargo upgraded Cognizant (NASDAQ: CTSH) to Outperform from Market Perform. The firm upgraded the stock after Cognizant reported better-than-expected Q3 results.
- Plug Power (NASDAQ: PLUG) was upgraded to Sector Perform from Underperform at RBC Capital.
- Digital River (NASDAQ: DRIV) was upgraded to Buy from Hold at Collins Stewart and to Overweight from Neutral at Piper Jaffray.
- Steris (NYSE: STE) was upgraded to Overweight from Equal Weight at Stephens.
Analyst downgrades:
- JPMorgan downgraded Burlington Northern (NYSE: BNI) to Neutral from Overweight following the acquisition by Berkshire Hathaway (NYSE: BRK.A). The firm has a $100 target on the stock.
- Barclays cut Black & Decker (NYSE: BDK) to Equal Weight from Overweight on news the company is being acquired by Stanley Works (NYSE: SWK).
- Oppenheimer downgraded Optimer Pharmaceuticals (NASDAQ: OPTR) to Perform from Outperform to reflect the delay for top-line data from the second fidaxomicin Phase III trial.
- Energizer (NYSE: ENR) was downgraded to Neutral from Conviction Buy at Goldman.
- Maxwell Tech (NASDAQ: MXWL) was downgraded to Underweight from Neutral at Piper Jaffray.
- American Eagle (NYSE: AEO) was cut to Hold from Buy at Lazard Capital.
Analyst initiations:
- Burger King (NYSE: BKC) and Yum! Brands (NYSE: YUM) were initiated with Buy ratings at Janney Montgomery and targets of $22 and $40, respectively.
- Shanda Games (NASDAQ: GAME) was started at Susquehanna with a Neutral rating and at JPMorgan with an Overweight rating and $15 target.
- Synopsys (NASDAQ: SNPS) was reinstated with a Buy rating and $27 target at BofA/Merrill.
- Apollo Commercial Real Estate (NYSE: ARI) was initiated with a Buy rating and $21 target at Stifel Nicolaus.
- Diageo (NYSE: DEO) was initiated with an Underweight rating at Barclays.
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