Analyst Calls: BX, CBOE, DO, EL, INTU, ITT, PTEN, RNST, T, TEVA ...

Analyst Upgrades

Berstein upgraded Diamond Offshore (DO) to market perform from underperform based on valuation. The firm has a $69 price target on the stock.
Jefferies upgraded Patterson-UTI Energy (PTEN) to buy from hold, citing leverage to higher land rig pricing. The firm raised its price target to $21 from $17.
Wunderlich upgraded Renasant (RNST) to buy from hold following the company's acquisition of Crescent Bank. The firm raised its target for shares to $20 from $15.
AT&T (T) was upgraded to buy from hold at Deutsche Bank.
Blackstone (BX) was upgraded to buy from neutral at BofA/Merrill.
Scripps Networks (SNI) was upgraded to overweight from equal weight at Morgan Stanley.

Analyst Downgrades

Bernstein downgraded Teva (TEVA) to market perform from outperform and lowered its price target to $58 from $71. The firm believes the odds of Copaxone generics are higher than before following the approval of generic Lovenox.
Deutsche Bank downgraded ITT Corp. (ITT) to hold from buy and lowered its target for shares to $85 from $110 on concerns the Gainful Employment language will limit the company's programs.
Oppenheimer downgraded Estee Lauder (EL) to underperform from perform ahead of the company's Q4 results, citing high expectations, consumer spending concerns and valuation.
Fiat (FIATY) was downgraded to neutral from outperform at Credit Suisse.
Sanderson Farms (SAFM) was downgraded to underweight from equal weight at Morgan Stanley.
American Medical (AMMD) was downgraded to market perform from outperform at Wells Fargo.

Analyst Initiations

JPMorgan initiated CBOE Holdings (CBOE) with a neutral rating and $26 price target. Shares were also initiated with a neutral rating at UBS and Credit Suisse, with a hold rating and $29 target at Citigroup and with an equal weight rating and $27 target at Barclays.
Weeden initiated Lululemon (LULU) with a hold rating on valuation.
Cowen initiated BroadSoft (BSFT) with an outperform rating. Shares were also initiated at Goldman with a neutral rating and $10 target and at Jefferies with a buy rating and $12 target.
SVB Financial (SIVB) coverage was assumed with a market perform rating and $39 target at Keefe Bruyette.
Intuit (INTU) was initiated with an outperform rating at Cowen.
American Electric (AEP) was initiated with an outperform rating at Wells Fargo.