Analyst Calls: AMZN, BWA, CELG, FINL, MMC, NLY, PPO, ROSE, SNDA, TROW, VVUS ...

Analyst Downgrades

• SunTrust downgraded Rosetta Resources (ROSE) to neutral from buy based on valuation and lack of near-term catalysts. The firm has a $27 price target on the stock.
• FBR Capital downgraded Annaly Capital (NLY) to market perform from outperform on valuation and expectations of a dividend cut in the near-term. The firm keeps a $17.50 price target on shares.
• Lazard Capital downgraded Vivus (VVUS) to hold from buy. The firm views Vivus risk/reward as unfavorable ahead of the July 15 FDA panel for Qnexa, a treatment for obesity.
• Shanda Interactive (SNDA) was downgraded to sell from neutral at Goldman.
• American Public (APEI) was downgraded to market perform from outperform at Barrington.
• Lincare Holdings (LNCR) was downgraded to neutral from positive at Susquehanna.
  
  

Analyst Initiations

• ThinkEquity initiated Amazon.com (AMZN) with a buy rating and $154 price target.
• Keefe Bruyette assumed Park National (PRK) with a market perform rating and $68 target.
• Needham started Polypore (PPO) with a strong buy rating and $27 target.
• Arthur J. Gallagher (AJG), Brown & Brown (BRO) and Marsh & McLennan (MMC) were initiated with neutral ratings at Sterne Agee.
• Codexis (CDXS) was initiated with a market perform at Raymond James.
• Ameren (AEE) was initiated with a neutral rating and $24 price target at UBS.