- RBC Capital upgraded Syniverse (SVR) to outperform from sector perform based on strong secular growth in mobile data and roaming. The firm raised its price target to $28 from $23.
- Deutsche Bank upgraded PG&E (PCG) to buy from hold with a $49 price target due to valuation.
- Jefferies assumed coverage on Sierra Wireless (SWIR) with a buy from a hold and raised its price target to $12 from $9. The analyst expects the M2M market to experience 25% growth over the next two years.
- Affiliated Managers (AMG) was upgraded to buy from neutral at Goldman.
- EastGroup Properties (EGP) was upgraded to buy from neutral at UBS.
- Gammon Gold (GRS) was upgraded to neutral from underperform at Credit Suisse.
- Janney Montgomery downgraded Microsoft (MSFT) to neutral from buy, citing the company's inability to leverage its desktop franchise into mobile. The firm has a $28 price target for shares.
- Goldman downgraded Blackrock (BLK) to neutral from conviction buy, citing relative valuation and longer-term fee pressure in ETFs. The firm has a $180 price target on the stock.
- Deutsche Bank downgraded Peabody Energy (BTU) to hold from buy, citing valuation and cost pressure concerns. The firm dropped its target for shares to $55 from $57.
- Colgate (CL) was downgraded to underweight from equal weight at Barclays.
- Ceragon Networks (CRNT) was downgraded to hold from buy at Jefferies.
- ICON plc (ICLR) was downgraded to neutral from outperform at Baird.
- Jefferies started Apple (AAPL) with a buy rating and $365 price target. The firm also initiated Research In Motion (RIMM) and Motorola (MOT) with hold ratings and price targets of $55 and $9.50, respectively.
- Wells Fargo assumed Primerica (PRI) with a market perform rating and $21 to $25 valuation range.
- RBC Capital initiated Paccar (PCAR) with a sector perform rating and $51 price target.
- National Grid (NGG) was initiated with an overweight rating and $46 target at Barclays.
- Autodesk (ADSK) was initiated with a buy rating and $38 target at Canaccord.
- Ingersoll-Rand (IR) was initiated with an outperform rating and $44 target at Credit Suisse.