Analyst Calls: BIG, CME, GME, GOOG, INTC, PALM, YHOO ...

Analyst Upgrades

Deutsche Bank upgraded CME Group (CME) to buy from hold to reflect valuation and the company's improving trends. The firm raised its target price for shares to $325 from $320.
JPMorgan upgraded Big Lots (BIG) to overweight from neutral. The firm believes the company's stabilizing comps and accelerating square foot growth should drive multiple expansion and raised its target price for shares to $38.
Soleil upgraded PacWest Bancorp (PACW) to buy from hold as it views the company's bulk loan sale positively. The firm has a $24.50 target on the stock.
Clean Harbors (CLH) was upgraded to buy from neutral at BofA/Merrill.
Skilled Healthcare (SKH) was upgraded to outperform from market perform at Leerink.
FARO Tech (FARO) was upgraded to buy from hold at Needham.

Analyst Downgrades

Baird believes Hospitality Properties (HPT) will have to draw on its entire security deposit in 2011 given the severity of the current downturn. The firm downgraded shares to neutral from outperform and lowered its target to $23 from $27.
Morgan Stanley downgraded Palm (PALM) to equal weight from overweight, citing weak distribution growth at Verizon (VZ).
Piper Jaffray downgraded GameStop (GME) to neutral from overweight on concerns the company's business has little growth over the next three years due to the shift to digital entertainment. The firm has a $16 price target on shares.
Fifth Third Bancorp (FITB) was downgraded to hold from buy at Citigroup.
Trina Solar (TSL) was downgraded to neutral from outperform at Credit Suisse.
Anadys Pharma (ANDS) was downgraded to perform from outperform at Oppenheimer.

Analyst Initiations

MKM Partners initiated Google (GOOG) with a neutral rating. The firm cites valuation and a lack of near-term catalysts for its rating and has a $570 fair value estimate for the stock.
MKM also initiated Yahoo! (YHOO) with a neutral rating and $17 fair value estimate for the stock. MKM wants to see Yahoo!'s turnaround gain more traction before getting positive on shares.
Benchmark Co. started NetLogic (NETL) with a hold rating, citing valuation.
Intel (INTC) was started at RBC Capital with an outperform rating and $26 target.
Atheros (ATHR) was initiated with a neutral rating and $39 target at JPMorgan.
Rockwell Collins (ROK) was initiated with a buy rating and $66 target at Stifel Nicolaus.