Analyst upgrades:

• Merriman upgraded Dendreon (NASDAQ: DNDN) to Buy from Neutral on expectations shares will react positively to the full IMPACT data release on April 28. The firm thinks Provenge could represent the first cancer immunotherapy approved in the U.S. and raised its valuation range on the stock to $33-$34 from $18-$19.
• Piper Jaffray upgraded Andersons (NASDAQ: ANDE) as it believes the valuation is attractive, investor expectations are low, and the company's fertilizer and rail segments could recovery in FY10. The firm has a $19 target on shares. Goldman upgraded the auto sector to Neutral from Cautious and added Ford (NYSE: F) to its Conviction Buy list. The analyst does not believe Ford will have to declare bankruptcy and sees the company benefiting from Chrysler share declines and GM's (NYSE: GM) reduced product offerings. Ford's price target is $6
• Banc of America/Merrill upgraded U.S. Airways (NYSE: LCC) to Buy from Underperform.
• Broadcom (NASDAQ: BRCM) was upgraded to Equal Weight from Underweight at Morgan Stanley.
• Caterpillar (NYSE: CAT) was raised to Overweight from Neutral at JP Morgan.

Continue reading Analyst upgrades, downgrades and initiations: DNDN, ANDE, the auto sector, DGX, MTB, ADVS, ITG, MF and PCLN

Analyst upgrades, downgrades and initiations: DNDN, ANDE, the auto sector, DGX, MTB, ADVS, ITG, MF and PCLN originally appeared on BloggingStocks on Wed, 22 Apr 2009 13:20:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Citigroup initiated Electronic Arts (NASDAQ: ERTS) and Activision (NASDAQ: ATVI) with Buy ratings and targets of $75 and $29, respectively; the firm initiated Take-Two (NASDAQ: TTWO) and THQ Inc (NASDAQ: THQI) with Hold ratings and targets of $23 and $34, respectively.
  
• Citigroup also started shares of Luxottica Group (NYSE: LUX) with a Buy rating. The firm believes the company can maintain its dominant market position given its house brands portfolio and early expansion into emerging markets.
  
• Merriman started shares of Hansen Medical (NASDAQ: HNSN) with a Buy rating and thinks the company's Sensei System could radically change the landscape of catheter based surgery. The firm believes the stock can trade to the $34-$41 range in 12-18 months.

• Calyon Securities initiated shares of General Motors Company (NYSE: GM) and Ford Motor Company (NYSE: F) with a Reduce rating and $31 target and $7 target, respectively.
  
• Deutsche Bank initiated Jack Henry & Associates (NASDAQ: JKHY) and Fiserv (NASDAQ: FISV) with Buy ratings and Advent Software (NASDAQ: ADVS) with a Hold rating.

Analyst initiations: Entertainment software, LUX and HNSN originally appeared on BloggingStocks on Tue, 09 Oct 2007 11:00:00 EST. Please see our terms for use of feeds.