Analyst Upgrades, Downgrades and Initiations: AMLN, CI, CTXS, HSY, KRA, TSCO, TXN ...

Analyst Upgrades

Jefferies upgraded Citrix Systems (CTXS) to buy from hold and raised its target to $48 from $43, citing VMware's (VMW) strong Q4 report and survey results that indicate continued strength for Citrix.
Citigroup upgraded Amylin Pharmaceuticals (AMLN) to buy from hold on confidence the company's LAR drug will be approved following the approval of Novo Nordisk's (NVO) Victoza. Citi raised its target price for Amylin shares to $27 from $4.
Baird upgraded Texas Instruments (TXN) to outperform from neutral and raised its target to $30 from $28. The firm believes it is too early to take profits in Texas Instruments and notes that checks continue to indicate a continued recovery in end-demand.
Lexmark (LXK) was upgraded to overweight from equal weight at Barclays.
Salix (SLXP) was upgraded to outperform from perform at Oppenheimer.
Plexus (PLXS) was lifted to outperform from neutral at Credit Suisse.

Analyst Downgrades

Goldman added Hershey (HSY) to its conviction sell list, citing a weak outlook and notes that the company is less likely to be a take-out target. The firm has a $32 target on the stock.
Baird downgraded Tractor Supply Company (TSCO) to neutral from outperform ahead of Q4 results tomorrow, citing lack of 2010 catalysts. The firm expects the Q4 report to be good but said 2010 estimates may be hard to meet/beat.
Oppenheimer downgraded Cigna (CI) to perform from outperform on concerns the company underpriced its Medicare PFFS products in 2010, making it likely earnings forecasts need to come down. The firm has a $38 price target on the stock.
Wimm-Bill-Dann (WBD) was downgraded to neutral from overweight at JPMorgan.
Genoptix (GXDX) was downgraded to equal weight from overweight at Stephens.
Plains Exploration (PXP) was downgraded to equal weight from overweight at Morgan Stanley.

Analyst Initiations

Oppenheimer believes Kraton Performance (KRA) is leveraged to a recovery and the firm thinks the stock has reached an excellent entry point. The firm believes the company has substantial growth opportunities and set an outperform rating and $20 target. Shares were also initiated with an outperform rating and $19 target at Credit Suisse, a buy rating and $19 target at BofA/Merrill, and an overweight rating and $19 target at Morgan Stanley.
Lazard Capital believes Liberty Starz (LSTZA) has high near-term visibility and that longer term concerns are overdone. The firm initiated shares with a buy rating and $73 target.
American Water Works (AWK) was started at Morgan Joseph with a buy rating and $26 target.
Blue Nile (NILE) was initiated with a hold rating and $60 target at Benchmark Co.
Cobalt International (CIE) was initiated with an overweight rating at Thomas Weisel.
Thomas & Betts (TNB) was assumed with an outperform rating and $42 target at Baird.