Analyst Calls: AMLN, AMR, EWBC, FSYS, LGF, LUV, MGM, PLOW, SXCI, TROW ...

Analyst Downgrades

• Janney Montgomery downgraded Fuel Systems (FSYS) to neutral from buy citing, volume and margin concerns. The firm lowered its target for shares to $27.50 from $34.50.
• BMO Capital downgraded Lionsgate (LGF) to market perform from outperform and has a $7 price target on the stock. The firm thinks continued disagreement between Icahn and Lionsgate management may limit increases in the stock for some time.
• Piper Jaffray downgraded Archipelago Learning (ARCL) to neutral from overweight, citing limited visibility and execution risks. The firm lowered its target for shares to $13 from $24.
• Portland General Electric (POR) was downgraded to neutral from buy at Goldman.
• Akamai (AKAM) was downgraded to hold from buy at Citigroup.
• Virage Logic (VIRL) was downgraded to hold from buy at Needham.

Analyst Initiations

• Leerink initiated SXC Health Solutions (SXCI) with an outperform rating and $87 target given earnings growth, planned expansion of Medicaid and generic drug launches.
• Southwest (LUV), Pinnacle Airlines (PNCL), Delta Air (DAL), Continental (CAL), AMR (AMR) and Alaska Air (ALK) were among the airline stocks initiated with buy ratings at Deutsche Bank.
• Oppenheimer initiated Douglas Dynamics (PLOW) with an outperform rating and $15 price target. Shares were also initiated at Piper Jaffray with an overweight rating and $14 target and at Credit Suisse with an outperform rating and $15 target.
• Riverbed (RVBD) was started at Barclays with an overweight rating and $32 target.
• Telecom Argentina (TEO) was initiated with a buy rating and $25 target at Standpoint Research.