Analyst upgrades, downgrades and initiations: ABT, BA, CLWR, LLY, LTD, NFLX ...

Analyst upgrades:

Stephens upgraded Quidel (QDEL) to equal weight from underweight on valuation following the recent pullback in shares. The firm keeps a $16 price target on the stock.
UBS upgraded Clearwire (CLWR) to neutral from sell, citing the company's funding, which increases opportunities. The firm raised its price target to $6 from $3.
Oppenheimer upgraded Mattson Technology (MTSN) to outperform from perform on expectations the company will benefit from a cyclical recovery in memory capex spending in 2010. The firm raised its target on shares to $4 from $3.
Eli Lilly (LLY) was upgraded to sell from conviction sell at Goldman.
Kinross Gold (KGC) was upgraded to overweight from neutral at JPMorgan.
Limited Brands (LTD) was upgraded to hold from sell at Soleil.

Analyst downgrades:

MerrMerriman downgraded Netflix (NFLX) to neutral from buy on valuation and concern that subscriber additions from launches on PS3 and Xbox 360 could pressure near-term earnings.
RBC Capital downgraded Church & Dwight (CHD) to outperform from a top pick and said it would look to be more aggressive on pull backs. The firm has a $66 target on shares.
JMP Securities downgraded NuVasive (NUVA) to market perform from outperform, citing reimbursement concerns.
Abbott Lab (ABT) was cut to buy from conviction buy at Goldman.

Analyst initiations:

Kaufman Bros. believes Standard Microsystems (SMSC) is well-positioned as a mixed-signal analog vendor. Shares were initiated with a buy rating and $23 target.
Benchmark Co. believes Equinix (EQIX) will benefit from increasing usage of web-based communications services. The firm set a buy rating and $120 price target on shares.
Morgan Stanley initiated Santander Brasil (BSBR) with an overweight rating and $17 target, citing relative valuation.
Boeing (BA) was started with an underweight rating and $45 target at HSBC.
Alpha Natural (ANR) was assumed at BofA/Merrill with a buy rating and $50 target.
Perrigo (PRGO) was initiated with an outperform rating and $50 target at RBC Capital.