Analyst Calls: ABX, AKS, BK, GBDC, GD, NEM, NWS, ODSY, PNC, UQM ...

Analyst Upgrades

Deutsche Bank upgraded Barrick Gold (ABX) to buy from hold and reiterates a buy rating on Newmont Mining (NEM) after upping its 2011 gold forecast to $1,450 per ounce and 2012 forecast to $1,600 per ounce. The firm upped its target for Barrick shares to $53 from $45, for Newmont shares to $74 from $72, and on hold-rated Goldcorp (GG) and Kinross Gold (KGC) to $40 and $20, respectively.
Citigroup upgraded General Dynamics (GD) to hold from sell following the recent pullback in shares. The firm keeps a $67 price target for the stock.
UBS upgraded Public Service (PEG) to buy from neutral and has a $34 price target on the stock. The firm cites the company's solid balance sheet, earnings profile, and valuation for the upgrade.
News Corp. (NWS) was upgraded to buy from hold at Soleil.
AK Steel (AKS) was upgraded to neutral from underperform.
Progress Energy (PGN) was upgraded to buy from neutral at BofA/Merrill.
PNC Financial (PNC) was upgraded to outperform from market perform at Keefe Bruyette.

Analyst Downgrades

RBC Capital downgraded Odyssey Healthcare (ODSY) to sector perform from outperform following the acquisition by Gentiva Health (GTIV). Shares were also downgraded to hold from buy at Deutsche Bank.
Piper Jaffray downgraded UQM Technologiest (UQM) to neutral from overweight with a $4.50 price target following the company's Q4 results.
Roth Capital downgraded Solar Power (SOPW) to hold from buy following the disappointing Q1 report. The firm halved its price target to $1 from $2.
Corinthian Colleges (COCO) was downgraded to hold from buy at Argus.
EMC (EMC) was downgraded to neutral from overweight at JPMorgan.
CGG Veritas (CGV) was downgraded to neutral from buy at BofA/Merrill.

Analyst Initiations

Golub Capital (GBDC) was initiated with an outperform rating at Wells Fargo and a buy rating and $15 target at Stifel Nicolaus.
Deutsche Bank started Oceaneering (OII) with a buy rating and $70 price target.
Jefferies initiated Bank of New York Mellon (BK) with a buy rating and $35 price target.
Ticonderoga assumed coverage of Stifel Financial (SF) with a sell rating and $43 price target.
Given Imaging (GIVN) coverage was resumed with a buy rating and $21 target at Maxim.
IESI-BFC (BIN) was initiated with an outperform rating and $24 target at Credit Suisse.