Analyst Calls: ADI, BCS, CMA, CVX, FACT, GR, ITMN, JCG, LMT, NFLX ...

Analyst Upgrades

ThinkEquity upgraded InterMune (ITMN) to buy from hold following the FDA advisory committee's approval of Esbriet. InterMune was also upgraded to outperform from market perform at Wells Fargo.
Piper Jaffray upgraded Radian (RDN) to neutral from underweight with a $9 target. The firm believes the company will not have to raise capital as the government is allowing it to increase its leverage ratio beyond historic maximum levels.
JPMorgan upgraded ExlService (EXLS) to neutral from underweight following the company's Q4 results.
Lockheed Martin (LMT) was upgraded to neutral from underperform at Macquarie.
Analog Devices (ADI) was upgraded to outperform from market perform at Bernstein.
Goodrich (GR) was upgraded to conviction buy from buy at Goldman.

Analyst Downgrades

Merriman downgraded Facet Biotech (FACT) to neutral from buy after the company agreed to be acquired by Abbott Laboratories (ABT).
Citigroup downgraded J.Crew (JCG) to hold from buy on valuation following the company's Q4 results. Despite the downgrade, the firm raised its target for shares to $50 from $49.
Soleil downgraded Comerica (CMA) to hold from buy following the company's capital raise. The firm lowered its target for shares to $37 from $40.
Barclays (BCS) was downgraded to market perform from outperform at FBR Capital.
Chevron (CVX) was downgraded to neutral from buy at BofA/Merrill.
Vale SA (VALE) was downgraded to neutral from buy at UBS.

Analyst Initiations

Netflix (NFLX) was started at Canaccord with a buy rating and $85 target.
Ingram Micro (IM) was assumed with a hold rating and $20 target at Kaufman Bros.
Benchmark initiated Cubic (CUB) with a buy rating and $42 target.
Evergreen Solar (ESLR) was initiated with a hold rating at Wunderlich.
Captone initiated WGL Holdings (WGL) with a hold rating and $38 target.
Trimble Navigation (TRMB) was initiated with a market perform rating at Morgan Keegan.