Analyst upgrades, downgrades and initiations: CMCSA, GAME, GRMN, ETN, FO, MDT, MSO ...

Analyst upgrades:

Deutsche Bank upgraded Vale SA (NYSE: VALE) to Buy from Hold on expectations the company will benefit from higher realized prices. The firm raised its target on shares to $30 from $23.
Soleil upgraded Education Management (NASDAQ: EDMC) to Buy from Gradually Accumulate following the company's Q1 results and raised its target on shares to $34 from $32.
Credit Suisse upgraded Medtronic (NYSE: MDT) to Outperform from Neutral. The firm also added the stock to its Focus List and raised its target on shares to $49 from $41. Credit Suisse believes Medtronic's base business is stabilizing and the stock's risk/reward is compelling.
Medivation (NASDAQ: MDVN) was upgraded to Buy from Hold at Roth Capital.
Martha Stewart (NYSE: MSO) was upgraded to Buy from Hold at Morgan Joseph.
Dominion Resources (NYSE: D) was upgraded to Hold from Underperform at Jefferies.

Analyst downgrades:

Collins Stewart downgraded Comcast (NASDAQ: CMCSA) to Hold from Buy to reflect overhang from the NBCU deal and lower-than-expected medium-term growth prospects.
RBC Capital downgraded Garmin (NASDAQ: GRMN) to Underperform from Sector Perform on concerns of increased competition and execution risk. The firm lowered its target on shares to $24 from $28.
Stephens downgraded Alvarion (NASDAQ: ALVR) to Equal Weight from Overweight on a lack of near-term catalysts and contract uncertainty. The firm lowered its target on shares to $5 from $7.
Approach Resources (NASDAQ: AREX) was downgraded to Neutral from Overweight at JPMorgan.
THQ Inc. (NASDAQ: THQI) was downgraded to Hold from Buy at Deutsche Bank.
Molson Coors (NYSE: TAP) was downgraded to Neutral from Buy at Goldman.

Analyst initiations:

Merriman initiated Novavax (NASDAQ: NVAX) with a Buy rating. The firm believes Novavax has a top technology in vaccine development for infectious diseases and set a $6-$8 price target on shares.
Merriman also started YM Biosciences (AMEX: YMI) with a Buy rating. The firm expects Nimotuzumab news flow to drive YM Biosciences shares.
Shanda Games (NASDAQ: GAME) was initiated with an Outperform rating and $16 target at Oppenheimer.
Fortune Brands (NYSE: FO) was initiated with a Neutral rating at BofA/Merrill.
Eaton (NYSE: ETN) was initiated with a Neutral rating and $70 target at Baird.