Analyst Calls: AGN, AOL, DELL, KMB, MXB, RISK, SNDA, T ...

Analyst Upgrades

Keefe Bruyette upgraded MSCI Inc. (MXB) to outperform from market perform on valuation following Monday's sell-off as it views the acquisition of RiskMetrics (RISK) favorably. The firm has a $36 price target on shares. UBS also upgraded MSCI, to buy from neutral, and raised its target to $40 from $34, citing the recent pullback in shares and the accretive acquisition of RiskMetrics.
Deutsche Bank upgraded Suncor (SU) to hold from sell on valuation and raised its price target on shares to $28 from $20. The firm continues to prefer Canadian Natural (CNQ) to Suncor, however, and raised its target on shares to $80 from $78.
JMP Securities upgraded Grubb & Ellis (GBE) to outperform from market perform based on the improved operating environment and balance sheet, and valuation, among other reasons.
Dell (DELL) was upgraded to buy from neutral at UBS.
FEMSA (FMX) was upgraded to overweight from neutral at HSBC.
Westar Energy (WR) was upgraded to outperform from market perform at Wells Fargo.

Analyst Downgrades

Roth Capital downgraded Shanda Interactive (SNDA) to hold from buy to reflect limited earnings visibility from Shanda Games (GAME). The firm lowered its target for Shanda Interactive shares to $48 from $65.
JMP Securities downgraded RiskMetrics (RISK) to market perform from outperform following the announcement it will be acquired by MSCI (MXB). Credit Suisse also downgraded RiskMetrics, to neutral from outperform.
RBC Capital downgraded OSI Pharmaceuticals (OSIP) to sector perform from outperform on valuation, as it sees limited upside from current levels with the stock already pricing in an increased acquisition bid. The firm raised its target for shares to $56 from $37.
AT&T (T) was downgraded to neutral from overweight at HSBC.
Deutsche Telekom (DT) was downgraded to equal weight from overweight at Barclays.
Kimberly Clark (KMB) was downgraded to sell from neutral at Goldman.

Analyst Initiations

Calyon started Allergan (AGN) with an outperform rating and $66 target.
Jefferies initiated Aol (AOL) with a hold rating and $27 target.
Health Care REIT (HCN) was assumed with a neutral rating and $43 target at Goldman.
HCP Inc. (HCP) coverage was assumed with a neutral rating and $30 target at Credit Suisse.
Exco Resources (XCO) was initiated with an overweight rating and $29 target at Barclays.
Portfolio Recovery (PRAA) coverage was resumed with an outperform rating at William Blair.