Analyst upgrades, downgrades and initiations: CMCSA, MRVL, NFLX, RAI, TTWO, V ...

Analyst Upgrades

Citigroup upgraded Reynolds American (RAI) to buy from hold to reflect its improved outlook for the company's market share and pricing. Citi also sees a greater chance of British American Tobacco (BTI) bidding for the rest of Reynolds American it doesn't already own. The firm raised its target price on Reynolds to $59 from $52.
Stephens upgraded Simmons First National (SFNC) to overweight from equal weight to reflect the company's balance sheet and potential for accretive FDIC-assisted acquisitions. The firm raised its target on shares to $32 from $29.
FBR Capital upgraded Astoria Financial (AF) to market perform from underperform on expectations the company's net charge-offs will peak in the fourth quarter, limiting downside risk. The firm raised its target on shares to $11 from $10.
First Solar (FSLR) was upgraded to buy from hold at Collins Stewart.
Brown-Forman (BF.B) was upgraded to neutral from underweight at JPMorgan.
Juniper (JNPR) was upgraded to conviction buy from buy at Goldman.

Analyst Downgrades

Kaufman Bros. downgraded Take-Two (TTWO) to sell from buy after the company lowered its outlook for Q4 and FY10. The firm lowered its target on shares to $7 from $14 and also removed the stock from its Focus List. Piper Jaffray downgraded the stock to neutral from overweight and lowered its target to $10 from $15 on the lower earnings outlook. Wells Fargo downgraded Take-Two to market perform from outperform and thinks the company is unlikely to outperform in the near term.
Wells Fargo downgraded Endo Pharmaceuticals (ENDP) to market perform from outperform and has a $21 to $24 valuation range on the stock following the FDA's disappointing complete response letter for Aveed.
Jefferies downgraded FirstEnergy (FE) to underperform from hold, citing high leverage and potential pressure on its credit ratings. The firm cut its target to $38 from $45.
Comcast (CMCSA) was downgraded to neutral from outperform at Credit Suisse.
Marvell Technology (MRVL) was downgraded to buy from conviction buy at Goldman.
Netflix (NFLX) was downgraded to hold from buy at Citigroup.

Analyst Initiations

Oppenheimer initiated Visa (V) with an outperform rating and $95 target. The firm believes the company will be boosted by a long-term switch to electronic payment methods, as well as increased global consumption and its overseas operations.
BofA/Merrill believes McGraw-Hill's (MHP) discounted valuation reflects legal and regulatory risks and that the company is well-positioned to benefit from the global development of global debt markets. Shares were started with a buy rating and $38 target.
Needham believes that Cantel (CMN) is a direct play on the large, growing infection prevention and control market. The firm, which initiated shares with a buy rating and $25 target, thinks this segment will perform well regardless of the outcome of health care reform.
Air Products (APD) was initiated with an outperform rating at William Blair.
SanDisk (SNDK) was initiated with an outperform rating and $30 target at JMP Securities.
Pacific Sunwear (PSUN) coverage was assumed with a neutral at JPMorgan.