Analyst Calls: AMD, BBY, COST, INTC, MRVL, MYGN, NSC, RDS.A, TXN, V ...

Analyst Downgrades

• Oppenheimer downgraded Intel (INTC), Conexant (CNXT), Atheros (ATHR), Marvell Tech (MRVL) and Monolithic Power (MPWR) to perform from outperform and Advanced Micro (AMD) to underperform from perform.
• JPMorgan downgraded Canadian National (CNI) to neutral from overweight with a $68 price target. Note the firm upgraded Norfolk Southern (NSC) this morning to overweight from neutral.
• JPMorgan also downgraded Myriad Genetics (MYGN) to neutral from overweight after assuming coverage of the stock. The firm lowered its target for shares to $18 from $28.
• Jefferies downgraded Best Buy (BBY) to hold from buy and lowered its price target to $36 from $50, based on continued softness in consumer electronic sales.
• Expedia (EXPE) was downgraded to buy from conviction buy at Goldman.
• Portugal Telecom (PT) was downgraded to underperform from market perform at Bernstein.

Analyst Initiations

• Jefferies initiated Stericycle (SRCL) with a buy rating and $80 price target.
• Sterne Agee started Baldor Electric (BEZ) with a neutral rating and $38 target.
• William Blair assumed Edwards Lifesciences (EW) with an outperform rating.
• Chindex (CHDX) was initiated with a market perform rating at JMP Securities.
• Tyson Foods (TSN) was initiated with a neutral rating at Cowen.
• Advanced Semiconductor (ASX) was initiated with a buy rating at Citigroup.