Analyst Calls: YHOO, ATHR, JNPR, ADCT, MFC, BHP, AAUKY, RHHBY

Analyst upgrades:

ThinkEquity upgraded Yahoo! (YHOO) to Buy from Hold based on valuation, checks that indicate Q2 display/search improvement, search stabilization, improved cost structure, and share repurchases.
Societe Generale upgraded Roche Holding (RHHBY) to Buy from Hold based on expectations Avastin will be approved in breast cancer, despite negative FDA briefing documents.
FBR Capital upgraded Atheros (ATHR) to Outperform from Market Perform based on valuation and positive checks that indicate powerline networking chips are gaining traction in China. The firm has a $43 price target on the stock.
Juniper (JNPR) was upgraded to Buy from Hold at Canaccord.
Ultimate Software (ULTI) was upgraded to Buy from Hold at Roth Capital.
Liberty Property Trust (LRY) was upgraded to Market Perform at Wells Fargo.

Analyst downgrades:

Auriga downgraded ADC Telecomm (ADCT) to Hold from Buy following the company's merger announcement with Tyco Electronics (TEL).
TD Newcrest expects Manulife's (MFC) Q2 loss to be worse than expected due to the impact from lower interest rates. The firm cut shares to Hold from Buy.
Goldman downgraded Perrigo (PRGO) to Sell from Neutral and lowered its target to $50 from $61. The firm cites relative valuation for the downgrade. Target to $50 from $61.
F5 Networks (FFIV) was downgraded to Hold from Buy at Canaccord.
Anglo American (AAUKY) and BHP Billiton (BHP) were downgraded to Neutral from Outperform at Credit Suisse.

Analyst initiations:

QKL Stores (QKLS) was initiated with a Buy rating and $7 price target at Global Hunter.
Rodman & Renshaw started Rick's Cabaret (RICK) with an Outperform rating.

Tags: aauky, adct, athr, bhp, ffiv, inthenews, jnpr, lry, mfc, prgo, qkls, rick, tel, ulti, yhoo