Analyst Upgrades, Downgrades and Initiations: GD, ICE, IGT, SAP, STI, TMH, TSS ...

Analyst Upgrades

Deutsche Bank upgraded Intercontinental Exchange (ICE) to buy from hold on valuation following the recent pullback in shares. The firm raised its target price on shares to $113 from $108.
UBS upgraded General Dynamics (GD) to buy from neutral based on improved defense risk profile and stabilization in the business jet market. The firm raised its target to $80 from $70.
FBR Capital upgraded SunTrust (STI) to outperform from market perform on expectations that regional banks will outperform the large money center banks in this environment. The firm raised its price target on shares to $28 from $22.
SAP AG (SAP) was upgraded to buy from neutral at BofA/Merrill.
Thomson Reuters (TRI) was raised to buy from hold at Citigroup.
Rosetta Resources (ROSE) was upgraded at Wells Fargo to outperform from market perform.

Analyst Downgrades

BMO Capital downgraded SunTrust (STI) to market perform from outperform based on valuation. The firm has a $24 target on the stock.
Goldman downgraded International Game Technology (IGT) to neutral from buy based on relative valuation and a slower ramp in sales. The firm lowered its target to $23 from $26.
UBS downgraded Total System (TSS) to neutral from buy based on pressure from structural changes in consumer credit markets and the regulatory environment. The firm lowered its target to $15 from $19.50.
Poniard Pharma (PARD) was downgraded to sell from hold at Canaccord and to market perform from outperform at Leerink.
Prosperity Bancshares (PRSP) was downgraded to neutral from buy at B. Riley and to market perform from outperform at BMO Capital.
Louisiana Pacific (LPX) was cut to hold from buy at TD Newcrest.

Analyst Initiations

Barrington initiated Integra LifeSciences (IART) with an outperform rating and $47 target. The firm expects Integra's revenue and earnings growth to accelerate as the company's geographical coverage expands.
Merriman started Savvis (SVVS) with a neutral rating. The firm wants Savvis to complete its CEO search and/or see signs of improving traction with its hosting and cloud businesses before becoming more positive on shares.
Merriman also initiated Terremark (TMRK) with a buy rating. The firm views Terremark as one of the best plays in the managed hosting and cloud computing markets.
Parker-Hannifin (PH) coverage was assumed with a hold rating and $60 target at Jefferies.
Team Health (TMH) was started with a buy rating and $18 target at Citigroup, a hold rating and $15.75 target at Deutsche Bank, a neutral rating and $16 target at Goldman and an outperform rating and $18 target at Credit Suisse.
Mead Johnson (MJN) coverage was resumed with an equal weight at Morgan Stanley.