Analyst Upgrades, Downgrades and Initiations: BKC, BP, CVX, DIS, GLW, INTC, NAT ...

Analyst Upgrades

Citigroup upgraded Chevron (CVX) to buy from hold after raising its long-term oil price assumption to $80 per barrel from $65. The firm raised its target price for Chevron shares to $97 from $78 and said it expects oil prices to push towards $90 per barrel in the near-term. Note, Citi also upgraded BP (BP) and Petrobras (PBR) Monday morning to buy from hold.
Jefferies upgraded Overseas Shipholding (OSG) and Nordic American Tanker (NAT) to buy from underperform as it expects crude oil tanker charter rates to improve in 2010 based on expectations for increased OPEC production levels. The firm raised its target on Overseas Shipholding to $60 from $22 and on Nordic American to $41 from $25.
Goldman upgraded Corning (GLW) to buy from neutral as they believe the LCD cycle may have bottomed in 4Q09 vs. their previous expectation of 2H10. The firm raised its target to $23 from $18. Shares were also upgraded to buy from hold at Deutsche Bank on expectations that consensus estimates will trend higher due to robust TV demand and tight capacity. The firm raised its target price on shares to $24 from $19.
Lam Research (LRCX) was upgraded to buy from neutral at UBS.
Intel (INTC) was upgraded to hold from sell at Auriga.
Regal Entertainment (RGC) was upgraded to overweight from market weight at Thomas Weisel.

Analyst Downgrades

Janney Montgomery downgraded Disney (DIS) to neutral from buy on valuation as it sees a more balanced risk/reward following the recent rally. The firm has a $34 target on the stock.
Deutsche Bank downgraded Burger King (BKC) to hold from buy after its channel checks indicated the company's sales in the U.S. are slowing. The firm lowered its target price on shares to $19 from $22.
FBR Capital downgraded Washington Federal (WFSL) to market perform from outperform on valuation and believes investors could have been expecting a larger FDIC-assisted acquisition than the Horizon Bank deal. Despite downgrading, the firm raised its target on shares to $22 from $20.
Northeast Utilities (NU) was downgraded to neutral from buy at UBS.
LTC Properties (LTC) was downgraded to hold from buy at KeyBanc.
RTI International (RTI) was downgraded to neutral from outperform at Cowen.

Analyst Initiations

Republic Services (RSG) was initiated with an overweight rating and $35 target at Morgan Stanley.
Comverge (COMV) was assumed at Barclays with an equal weight rating and $13 target.
Credit Suisse assumed Cloud Peak Energy (CLD) with an outperform rating and $21 target.
Renasant Corp (RNST) was initiated with a hold rating at Stifel Nicolaus.
Standard Motor Products (SMP) was initiated with a neutral rating and $11 target at Goldman.
EnerNOC (ENOC) was initiated with an overweight rating and $45 target at Barclays.