Analyst Calls: ABC, BBY, CF, CSIQ, ERIC, MO, N, NAV, ORLY, PCAR, RCRC, SYY ...

Analyst Upgrades

Best Buy (BBY) was upgraded to top pick from outperform at RBC Capital, as the firm thinks the company's valuation is inexpensive while it will perform well during the holiday season.
Credit Suisse upgraded CF Industries (CF) to outperform from neutral, citing favorable fundamentals in nitrogen and phosphate markets.
Canadian Solar (CSIQ) was raised to buy from hold by Jefferies, which cited expectations for higher selling prices next year and cost savings from sourcing more components internally.
BMO Capital upgraded RC2 Corp. (RCRC) to outperform from market perform as the firm believes that RC2's baby products are performing better than previously expected.
Ericsson (ERIC) was upgraded to neutral from underperform at BofA/Merril.
ProLogis (PLD) was upgraded to buy from hold at Stifel Nicolaus.
Constellation Energy (CEG) was upgraded to outperform from neutral at Macquarie.

Analyst Downgrades

Citigroup downgraded Sysco (SYY) to hold from buy, citing tough competition and a lack of catalysts.
RBC Capital downgraded O'Reilly Automotive (ORLY) to outperform from top pick based on valuation and growing seasonality.
NetSuite (N) was downgraded to hold from buy by Needham on valuation.
Open Text (OTEX) was downgraded to hold from buy by Benchmark Co. based on recent share strength.
Altria Group (MO) and Reynolds American (RAI) were both downgraded to hold from buy by Deutsche Bank.
JPMorgan dropped Satyam (SAY) to neutral from overweight.

Analyst Initiations

AmerisourceBergen (ABC) was initiated with an outperform at Leerink, which cited the company's based on generic launches, brand price inflation and increasing mix of specialty drugs.
Morgan Stanley initiated Navistar (NAV) with an equal weight and $56 target.
UBS initiated Alkermes (ALKS) with a buy rating and $18 target.
IberiaBank (IBKC) was started with an outperform by Morgan Keegan.
Salix (SLXP) was initiated with a neutral and $45 target by UBS.
Morgan Stanley started Paccar (PCAR) with an overweight and $55 target.
Par Pharmaceutical (PRX) was launched with a buy rating and $35 target by UBS.