Analyst upgrades:
- Keefe Bruyette upgraded Blackstone Group (BX) to outperform from market perform following the company's Q3 results and maintains an $18.50 price target on shares.
- Baird upgraded Astec (ASTE) to outperform from neutral citing relative valuation and upside from new multi-year U.S. highway funding legislation. The firm raised its target to $33 from $27.
- Goldman upgraded Abercrombie & Fitch (ANF) to conviction buy from neutral citing "significant" long-term growth drivers that include international growth. The firm raised its target to $45 from $36.
- Ariad Pharmaceuticals (ARIA) was upgraded to overweight from neutral at JPMorgan.
- Energizer (ENR) was upgraded to overweight from equal weight at Morgan Stanley.
- AstraZeneca (AZN) was upgraded to buy from hold at RBS.
Analyst downgrades:
- Stephens downgraded FreightCar America (RAIL) to equal weight from overweight to reflect a lack of new car orders and lowered its price target on shares to $20 from $30.
- Goldman downgraded Verisign (VRSN) to sell from neutral and cut its target to $22 from $25 citing lofty margin expectations and legal overhang from the antitrust suit.
- AstraZeneca (AZN) was downgraded to underweight from neutral at JPMorgan on concerns over earnings growth.
- Intrepid Potash (IPI) was downgraded to sector perform from outperform at RBC Capital.
- Scripps Networks (SNI) was downgraded to hold from buy at Wunderlich.
- Gap (GPS) was downgraded to equal weight from overweight at Barclays.
Analyst initiations:
- Parker-Hannifin (PH) and Stone Energy (SGY) were initiated with equal weight ratings at Barclays and a $57 target and $23 target, respectively.
- Select Medical (SEM) was initiated with an outperform rating and $13 target at RBC Capital.
- Webster Financial (WBS) coverage was resumed with a neutral rating and $13 target at JPMorgan.
- Global Payments (GPN) was initiated with a buy rating at BofA/Merrill.
- BioSante Pharma (BPAX) was assumed at Rodman & Renshaw with an outperform rating and $4 target.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
