Analyst Upgrades, Downgrades and Initiations: AOL, DG, NYT, POT, SLB, SNDK, XOM, YHOO ...

Analyst Upgrades

Barclays upgraded Schlumberger (SLB) to overweight from equal weight based on its deep management team, financial strength and increased exploration activity. The firm raised its target to $73 from $64.
ThinkEquity upgraded SanDisk (SNDK) to buy from hold based on expectations for a solid 2010 with better NAND pricing trends, leaner channel inventories and lack of new fabs slated in 2010, among other reasons. The firm has a $35 target on the stock.
Keefe Bruyette upgraded Pinnacle Financial (PNFP) to outperform from market perform, citing the company's strong management and balance sheet. The firm has a $16.50 price target on the stock.
Watson Pharma (WPI) was raised to neutral from underperform at BofA/Merrill.
New York Times (NYT) was upgraded to market perform from underperform at Wells Fargo.
Tenet Healthcare (THC) was upgraded to outperform from market perform at Leerink.

Analyst Downgrades

Soleil downgraded Exxon Mobil (XOM) to hold from buy to reflect reduced crude oil and refining margin forecasts, as well as valuation. The firm lowered its target price on shares to $79 from $85.
TD Newcrest downgraded Potash (POT) to reduce from hold, citing valuation and weak fundamentals. The firm, which has a $95 target on shares, believes the 2010 China potash supply contract price indicates weak price and volume.
JPMorgan downgraded Cintas (CTAS) to neutral from overweight following the company's Q2 results and lowered its target price on shares to $30 from $34.
Allegiant Travel (ALGT) was cut to hold from buy at Jesup & Lamont.
Impax Labs (IPXL) was lowered to neutral from buy at BofA/Merrill.
Tortoise Energy (TYG) was downgraded to hold from buy at Wunderlich.

Analyst Initiations

Morgan Stanley resumed coverage on Yahoo! (YHOO) with an overweight rating based on increased usage following Yahoo!'s homepage redesign. The firm believes the redesign is serving improved content and is positioning the company to be "the news source of first resort."
AOL (AOL) was initiated with a hold rating and $29 target at Citigroup.
Dollar General (DG) was initiated with a neutral rating and $25 target at JPMorgan, a buy rating and $29 target at Deutsche Bank, a buy rating and $30 target at Citigroup and a buy rating and $30 target at BofA/Merrill.
Sirona Dental (SIRO) was initiated with a neutral rating at SunTrust.
Syntel (SYNT) was assumed at Baird with a neutral rating and $39 target.
rue21 (RUE) was initiated with an overweight rating and $34 target at Piper Jaffray.