Analyst Upgrades, Downgrades and Initiations: BA, BMY, EAT, INTC, MS, UNH, WYNN ...

Analyst Upgrades

Baird upgraded Intel (INTC) to outperform from neutral and has a $26 target on the stock. The firm's checks indicate tier-one PC OEMs have raised their 1H10 procurement forecasts, which could lead to Intel outperformance.
Citigroup upgraded UnitedHealth (UNH) to buy from hold on expectations the company will benefit from a sector rotation into Managed Care in 2010. The firm raised its price target on shares to $39 from $30.
UBS upgraded Morgan Stanley (MS) to buy from neutral based on strong capital and liquidity positions, building investment banking pipelines, and expectations for a turn in EPS/ROE, among other reasons.
Deutsche Bank upgraded the U.S. Refining group as it believes demand is improving and margins could expand in 2010. The firm raised its rating on Sunoco (SUN) to hold from sell and its target on shares to $25 from $18, and upgraded Tesoro (TSO) and Frontier Oil (FTO) to buy from hold.
Boeing (BA) was raised to overweight from equal weight at Barclays.
Wynn Resorts (WYNN) was upgraded at UBS to buy from neutral.
Investors Bancorp (ISBC) was upgraded to buy from neutral at Janney Montgomery.

Analyst Downgrades

Citigroup downgraded Bristol-Myers (BMY) to hold from buy after reinitiating the stock following the spin-off of Mead Johnson (MJN). Citi believes Bristol-Myers' current valuation reflects its growth outlook and has a $28 price target on shares.
Kaufman Bros. downgraded Silicon Laboratories (SLAB) to hold from buy on valuation following the recent rally in shares. The firm maintains a $50 price target on the stock.
Credit Suisse downgraded Expedia (EXPE) to neutral from outperform based on reduced 2010 earnings visibility and difficult comps. The firm lowered its target to $28 from $29.
Chesapeake (CHK) was downgraded to neutral from buy at Goldman.
Brinker (EAT) was cut to neutral from buy at UBS.
Boston Scientific (BSX) was downgraded at Baird to neutral from outperform.

Analyst Initiations

Millicom (MICC) was initiated with a buy rating and $100 target at Citigroup.
Goldman started Plains Exploration (PXP) with a neutral rating and $33 target.
Impax Labs (IPXL) was assumed with an overweight rating and $18 target at JPMorgan.
Bridgepoint Education (BPI) was initiated with a buy rating at ThinkEquity.
Tyco (TYC) was initiated with an outperform rating at Cowen.
SORL Auto Parts (SORL) was started at Roth Capital with a buy rating and $13 target.