- UBS upgraded JPMorgan (JPM) to buy from neutral and has a $50 price target on the stock. The firm cites valuation for the upgrade.
- Morgan Joseph upgraded Deere (DE) to buy from hold, citing strong U.S. demand for combines and tractors, favorable fundamentals in Brazil, and expectations for improved domestic construction-equipment demand. The firm has a $75 price target on the stock.
- Wells Fargo upgraded Venoco (VQ) to outperform from market perform to reflect increased confidence in the company's Monterey Shale potential.
- GlaxoSmithKline (GSK) was upgraded to buy from hold at Jefferies.
- Tenet Healthcare (THC) was upgraded to positive from neutral at Susquehanna.
- Agnico-Eagle (AEM) was upgraded to outperform from sector perform at RBC Capital.
- Wells Fargo downgraded Impax Laboratories (IPXL) to market perform from outperform, citing valuation and low earnings visibility.
- ThinkEquity downgraded Canadian Solar (CSIQ) to hold from buy following the SEC investigation announcement.
- Baird downgraded Tenet Healthcare (THC) to neutral from outperform and lowered its target to $5 from $8 on the potential acquisition of Healthscope. Shares were also dowgnraded to neutral from conviction buy at Goldman.
- Polo Ralph Lauren (RL) was downgraded to neutral from buy at Goldman.
- Exelon (EXC) was downgraded to underweight from neutral at JPMorgan.
- ev3 Inc. (EVVV) was downgraded to market perform from outperform at BMO Capital.
- Carnival (CCL) and Royal Caribbean (RCL) were initiated with positive ratings and price targets of $45 and $36, respectively, at Susquehanna.
- ThinkEquity assumed AutoZone (AZO) with a hold rating and $207 target.
- Credit Suisse started Foster Wheeler (FWLT) with an outperform rating and $34 target.
- Goldman initiated Blue Nile (NILE) with a buy rating and $62 target.
- Old Dominion Freight (ODFL) was initiated with a market perform rating at Wells Fargo.
- Sunpower (SPWRA) coverage was reinstated with a hold rating and $11 target at Kaufman Bros.