- Wells Fargo upgraded Norfolk Southern (NSC) to outperform from market perform following the company's Q1 results.
- RBC Capital transferred coverage on Gildan Activewear (GIL) with an outperform from sector perform. The firm is positive on Gildan's low-cost producer strategy and free cash flow generation. The firm raised its target to $35 from $26.
- Wunderlich upgraded Delphi Financial (DFG) to buy from hold following the company's Q1 results and raised its target for shares to $31 from $29.
- Aflac (AFL) was upgraded to buy from neutral at Sterne Agee.
- Time Warner (TWX) was upgraded to outperform from neutral at Cowen.
- Pride International (PDE) was upgraded to outperform from neutral at Credit Suisse.
- Credit Suisse downgraded Ford (F) to underperform from neutral. The firm, which has a $10 price target on the stock, downgraded shares based on valuation and questions how long such high profitability is sustainable.
- Piper Jaffray downgraded DaVita (DVA) to neutral from overweight on valuation following the company's Q1 results. The firm has a $66 price target for shares. Shares were also downgraded to hold from buy at Jefferies with a $69 price target.
- Jefferies downgraded Phase Forward (PFWD) to hold from buy after Oracle (ORCL) agreed to acquire the company.
- Dell (DELL) was downgraded to neutral from buy at UBS.
- Buffalo Wild Wings (BWLD) was downgraded to perform from outperform at Oppenheimer.
- Motorola (MOT) was downgraded to sector perform from outperform at RBC Capital.
- Deutsche Bank started Progress Energy (PGN) with a hold rating and $39 target.
- Citigroup initiated Telephone and Data Systems (TDS) with a hold rating and $42 target.
- ThinkEquity assumed PSS World Medical (PSSI) with a hold rating and $25 target.
- Rue21 (RUE) was initiated at Jefferies with a hold rating and $35 target.
- Exceed Co (EDS) Was initiated with a buy rating and $13 target at Morgan Joseph.