- FBR Capital upgraded Pioneer Natural (PXD) to outperform from market perform and raised its price target for shares to $85 from $60. The firm upgraded shares on expectations that returns from the company's Spraberry field will increase materially.
- Baird upgraded Acroda Therapeutics (ACOR) to outperform from neutral based on valuation and a new survey that indicates a strong uptake for Ampyra and improvements on the reimbursement front. The firm has a $40 target on the stock.
- Morgan Stanley upgraded Nokia (NOK) to overweight from underweight based on checks that indicate strong orders and less than expected discounting for its upcoming N8 smartphone.
- GlaxoSmithKline (GSK) and British American Tobacco (BTI) were upgraded to buy from neutral at BofA/Merrill.
- Quality Systems (QSII) was upgraded to outperform from market perform at William Blair.
- Siemens (SI) was upgraded to buy from neutral at UBS.
- Janney Montgomery downgraded Campbell Soup (CPB) to neutral from buy with a $37 price target, citing the company's guidance and acquisition risk.
- Goldman downgraded Goodrich (GR) to neutral from buy and has an $85 price target on the stock. The firm cites relative valuation for the rating change.
- Mid-America (MAA), Vornado (VNO) and AvalonBay (AVB) were downgraded to market perform from outperform at Keefe Bruyette, citing valuation and a lack of catalysts.
- McAfee (MFE) was downgraded to equal weight from overweight at Barclays.
- Holly Energy (HEP) was downgraded to neutral from buy at BofA/Merrill.
- CommVault (CVLT) was downgraded to market perform from outperform at Morgan Keegan.
- Green Dot (GDOT) was initiated with an overweight rating and $60 target at JPMorgan and Morgan Stanley and with an overweight rating and $57 target at Piper Jaffray.
- Chesapeake Midstream (CHKM) was initiated with an overweight rating and $26 target at Barclays. Shares were also initiated at Goldman with a neutral rating and $25 target, with an overweight rating and $28 target at Morgan Stanley and with a buy rating and $26.50 target at UBS.
- Envestnet (ENV) was initiated with an outperform rating and $12 target at RBC Capital, with an equal weight rating and $11 target at Barclays and with an overweight rating and $15 target at Morgan Stanley.
- Auriga initiated Mettler-Toledo (MTD) with a hold rating and $120 target.
- Susquehanna started Occidental Petroleum (OXY) with a positive rating and $98 target.
- Citigroup assumed BMC Software (BMC) with a buy rating and $45 target.