Analyst Calls: BSX, FORM, HPQ, JACK, MCO, NFLX, PPL, RTP, VALE ...

Analyst Upgrades

JMP Securities upgraded Hewlett-Packard (HPQ) to outperform from market perform based on valuation and checks that indicate strength in enterprise PCs, high growth geographies and light laptops. The firm has a $50 target on the stock.
RBC Capital upgraded Rio Tinto (RTP) to outperform from sector perform, citing the company's improving growth plans and attractive risk profile.
Goldman upgraded FormFactor (FORM) to neutral from sell, but lowered its price target to $6 from $10. The firm cites valuation for the upgrade.
MCG Capital (MCGC) was upgraded to outperform from market perform at FBR Capital.
CRH (CRH) was upgraded to neutral from underweight at JPMorgan.
Melco Crown (MPEL) was upgraded to overweight from equal weight at Morgan Stanley.

Analyst Downgrades

Citigroup downgraded PPL Corp. (PPL) to hold from buy, citing a lack of catalysts and falling commodity prices. The firm dropped its target for shares to $28.50 from $30.50.
RBC Capital downgraded Vale (VALE) to sector perform from outperform based on valuation.
Raymond James downgraded American Physicians (AMPH) to underperform from outperform following the acquisition announcement.

Analyst Initiations

Netflix (NFLX) was initiated with a hold rating and $135 target at ThinkEquity. The firm cites valuation for the rating.
Keefe Bruyette believes legal and regulatory issues will continue to pressure Moody's (MCO) shares. Shares were initiated with a market perform rating and $25 target.
Stifel Nicolaus initiated Boston Scientific (BSX) and St. Jude Medical (STJ) with hold ratings.
Ensco (ESV) was initiated with a neutral rating and $48 target at Global Hunter.
Allscripts (MDRX) coverage was reinstated with a hold rating and $19.50 target at Deutsche Bank.
Jack in the Box (JACK) was initiated with an equal weight rating at Morgan Stanley.