Analyst Upgrades, Downgrades and Initiations: CMG, EXPE, NFLX, OSK, PNC, SJM, VCLK ...

Analyst Upgrades

Deutsche Bank upgraded PNC Financial (PNC) to buy from hold on valuation as it believes the recent pullback in shares provides a buying opportunity. The firm raised its target on shares to $57 from $45.
Kaufman Bros. upgraded Expedia (EXPE) to buy from hold on valuation as it finds the risk/reward on shares attractive following the company's Q4 results and believes revenue margin concerns are overblown. The firm has a $27 price target on the stock.
Jesup & Lamont upgraded Chipotle Mexican Grill (CMG) to hold from sell following the company's Q4 results to reflect its improving traffic trends. The firm raised its target on shares to $96 from $81. Shares were also upgraded at BofA/Merrill to buy from neutral.
Rio Tinto (RTP) was upgraded to outperform from neutral at Credit Suisse.
FirstEnergy (FE) was upgraded to hold from underperform at Jefferies.
Marriott (MAR) was upgraded to perform from underperform at Oppenheimer.

Analyst Downgrades

KeyBanc downgraded Oshkosh (OSK) to hold from buy following checks that indicate 2010 and potentially 2011 will most likely have lackluster OE pricing and production levels. The firm's checks indicate a lack of visibility in end-market demand and excess machinery inventory levels.
Jefferies downgraded Symantec (SYMC) to hold from buy, citing expectations that McAfee (MFE) will likely win the Hewlett-Packard (HPQ) consumer OEM contract from Symantec. The firm lowered its target to $18 from $20.
RBC Capital downgraded Valueclick (VCLK) to sector perform from outperform, citing concerns about the overall conversion rate of comp shopping sites and how Yahoo!'s (YHOO) ad platform separation will impact 2H10 business. The firm lowered its target to $10 from $12.
3M Company (MMM) was downgraded to underperform from neutral at BofA/Merrill.
Coinstar (CSTR) was downgraded to hold from buy at Brigatine.
Rainmaker Systems (RMKR) was downgraded to hold from buy at Needham.

Analyst Initiations

BMO Capital initiated Netflix (NFLX) with a market perform rating and $70 target.
Bernstein started J.M. Smucker (SJM) with a market perform rating and $68 target.
Jefferies assumed Waters (WAT) with a hold rating and $66 target.
Colgate (CL) was initiated with a neutral rating and $87 target at Credit Suisse.
Qwest (Q) was initiated with a neutral rating at SunTrust.
WebMD (WBMD) was initiated with an outperform rating and $45 target at Raymond James.