Analyst Calls: ALU, CHL, EXC, GENZ, KO, NDSN, NSW, SJM, TXN ...

Analyst Upgrades

JPMorgan upgraded Coca-Cola (KO) to overweight from neutral due to valuation and expectations that developed market volume should improve. The firm raised its target price for shares to $66.
BB&T upgraded Nordson (NDSN) to buy from hold and has an $82 price target on the stock. The firm believes certain drivers of Nordson's Advanced Tech unit are becoming more secular vs. cyclical and that the company's EBIT margins can go higher.
Credit Suisse upgraded Embraer (ERJ) to outperform from underperform, citing the positive announcements from the Famborough Air Show. The firm raised its price target to $37 from $21.
Universal Health (UHS) was upgraded to outperform from sector perform at RBC Capital.
Mead Johnson (MJN) was upgraded to conviction buy from buy at Goldman.
Coventry Health (CVH) was upgraded to outperform from market perform at Leerink.

Analyst Downgrades

Baird downgraded Texas Instruments (TXN), STMicroelectronics (STM), Micron (MU), Diodes (DIOD) and Fairchild Semiconductor (FCS) to neutral from outperform. The firm's checks indicate reduced Q3 back-end outlooks, lower visibility in the supply chain, and Tier-1 OEM component reductions.
Citigroup downgraded Genzyme (GENZ) to hold from buy on valuation as it believes an acquisition by Sanofi-Aventis (SNY) is likely in the $74 to $77 per share price range. The firm recommends taking some profits in Genzyme shares at current levels but raised its price target to $76 from $64.
UBS lowered Exelon (EXC) to neutral from buy, citing cash flow concerns and the ongoing rate case in Illinois. The firm cut its price target to $40 from $56.
QEP Resources (QEP) was downgraded to neutral from positive at Susquehanna.
China Mobile (CHL) was downgraded to hold from buy at Deutsche Bank.
J.M. Smucker (SJM) was downgraded to hold from buy at Jefferies.

Analyst Initiations

Collins Stewart initiated News Corp. (NWS) with a buy rating and $18 target.
JPMorgan initiated China Mobile (CHL) with a neutral rating and China Unicom (CHU) with an overweight rating.
Deutsche Bank initiated Alcatel-Lucent (ALU) with a buy rating.
Standard Parking (STAN) was initiated with an outperform rating and $22 target at Barrington.
Towerstream (TWER) was initiated with a buy rating at Merriman.
Origin Agritech (SEED) was initiated with a neutral rating at Global Hunter.