Analyst Calls: BBY, BWA, DGI, EOG, M, MAC, MR, NOC, TXN, WFMI ...

Analyst Downgrades

• FBR Capital downgraded Northrop Grumman (NOC) to market perform from outperform, citing expectations for a weaker second half of 2010 on a relative basis. The firm keeps a $75 price target for shares.
• Canaccord downgraded DigitalGlobe (DGI) to hold from bu,y given lower-than-expected deal terms for its new EnhancedView Contract. The firm cut its price target to $35 from $37. Shares were also downgraded to neutral from buy at BofA/Merrill.
• Soleil downgraded Mindray Medical (MR) to hold from buy and lowered its target for shares to $27 from $44 following the company's Q2 results.
• Superior Well Services (SWSI) was downgraded to neutral from outperform at Macquarie and to hold from buy at Jefferies.
• Best Buy (BBY) was downgraded to neutral from buy at Goldman.
• Autoliv (ALV) and BorgWarner (BWA) were downgraded to hold from buy at Deutsche Bank.

Analyst Initiations

• Merriman believes Ameristar Casinos (ASCA) trades at a premium to its fundamentals and sees potential for 20% downside in the stock. Shares were initiated with a sell rating.
• Merriman also initiated Pinnacle Entertainment (PNK) and Full House Resorts (FLL) with buy ratings and Monarch Casino (MCRI) with a neutral rating.
• Morgan Stanley started Albermarle (ALB) with an overweight rating and $52 price target.
• Rodman & Renshaw initiated China Gerui Advanced Materials (CHOP) with an outperform rating and $10 target.