Analyst upgrades, downgrades and initiations: ANF, BIDU, DE, FCX, HBC, SWY, USB ...

Analyst upgrades:

FBR upgraded Abercrombie & Fitch (ANF) to reflect strong channel checks over the Black Friday weekend. The firm raised its target on shares to $46 from $39.
Morgan Stanley upgraded Safeway (SWY), citing improvements in pricing.
Baird upgraded US Bancorp (USB) based on valuation. The firm raised its target price to $29 from $25.
HSBC Holdings (HBC) was upgraded to buy from neutral at BofA/Merrill.
Genzyme (GENZ) was upgraded to buy from hold at Citigroup.
Deere (DE) was upgraded to outperform from market perform at Wells Fargo.

Analyst downgrades:

Bernstein downgraded Baidu (BIDU) based on valuation, with a target raised to $460 from $420.
Morgan Stanley downgraded SuperValu (SVU), citing risks around the core grocery business. The firm has a target of $13 on shares.
Goldman removed Freeport McMoRan (FCX) from its conviction buy list, citing recent share strength. The firm's price target remains $95.
Bancolombia SA (CIB) was downgraded to sell from neutral at Goldman.
Daimler AG (DAI) was downgraded to buy from conviction buy at Goldman.
Franklin Resources (BEN) was downgraded to neutral from buy at Pali Capital.

Analyst initiations:

Seattle Genetics (SGEN) was initiated with a neutral at Goldman. The firm has a target of $11.50 on the shares.
AGA Medical (AGAM) was initiated with a buy at Deutsche Bank with a target of $16.
Boise (BZ) was initiated with a buy at Sterne Agee. Sterne Agee believes Boise is well-positioned to benefit from a continued recovery in the paper markets.The firm has a target of $7 on shares.
HSBC Holdings (HBC) was initiated with an outperform at FBR Capital.
Liberty Global (LBTYA) was initiated with a neutral at JPMorgan with a target of $23.50.
Boyd Gaming (BYD) was initiated with a fair value at CRT Capital.