Analyst Upgrades

• Parker-Hannifin (PH) to buy from hold at Deutsche Bank.
• JDSU (JDSU) to buy from hold at Citigroup.
• Noble Corp. (NE) to overweight from neutral at JPMorgan.
• Cerner (CERN) to buy from hold at Auriga.
• Cintas (CTAS) to outperform from neutral at RW Baird.
• American States Water (AWR) to buy from hold at Brean Murray.
• National Semiconductor (NSM) and Texas Instruments (TXN) to positive from neutral at Susquehanna.
• Lululemon (LULU) to buy from hold at ThinkEquity.
• DuPont Fabros (DFT) to top pick from outperform at RBC Capital.

Analyst Upgrades

• Thoratec (THOR) to buy from neutral at UBS.
• TW Telecom (TWTC) to buy from hold at Citigroup.
• TAL Education (XRS) to overweight from neutral at Piper Jaffray.
• Amedisys (AMED) to buy from hold at Deutsche Bank.

Analyst Downgrades

• Navigators (NAVG) to neutral from outperform at Macquarie.
• El Paso Electric (EE) to hold from buy at Jefferies.
• Hancock Holding (HBHC) to hold from buy at Wunderlich.
• California Water Service (CWT) and American States Water (AWR) to neutral from buy at Janney Capital.
• Mednax (MD) to hold from buy at Deutsche Bank.

Analyst Upgrades

• Deutsche Bank upgraded Dr Pepper Snapple (DPS) to buy from hold based on valuation. The firm keeps a $39 target on the stock.
• Piper Jaffray upgraded Kenexa (KNXA) to overweight from neutral, citing a strengthening of trends for the company. The firm has a $29 price target on the stock.
• Janney Montgomery upgraded Gaylord Entertainment (GET) to buy from neutral on expectations the company will benefit from strong trends in 2011. The firm raised its target for shares to $35 from $32.50.
• MeadWestvaco (MWV) was upgraded to outperform from neutral at Credit Suisse.
• EADS (EADSY) was upgraded to overweight from neutral at JPMorgan.

Analyst upgrades:

• Citigroup upgraded Bristol-Myers (NYSE: BMY) to Buy from Hold. Citigroup upgraded shares on their belief the company has one of the best three year growth rates among peers.
  
• Rio Tinto (NYSE: RTP) was upgraded to Buy from Underperform at Merrill Lynch. Merrill upgraded Rio Tinto following the company's debt repayment plan announcement.
  
• Credit Suisse upgraded Societe Generale (OTC: SCGLY) to Outperform from Neutral. Credit Suisse upgraded shares on valuation.
  
• Alberto-Culver (NYSE: ACV) was added to Conviction Buy List; maintain Buy at Goldman.
  
• American States Water Co. (NYSE: AWR) was upgraded to Buy from Hold at Jesup & Lamont.
  
• Hawaiian Electric (NYSE: HE) was upgraded to Outperform from Neutral at RW Baird.

Analyst downgrades:

MOST NOTEWORTHY: Gen-Probe, Monster Worldwide, LabCorp and Quest Diagnostics were today's noteworthy initiations:

• Deutsche Bank initiated shares of Gen-Probe (NASDAQ: GPRO) with a Buy rating and $78 target and expects the company's broad product portfolio in Clinical Diagnostics and Blood Screening to drive growth.
  
• CIBC initiated Monster Worldwide (NASDAQ: MNST) with a Sector Performer rating, as they believe their macro concerns are more important than the company's intermediate-term prospects and its position within the global recruiting market.
  
• William Blair views the valuation of LabCorp (NYSE: LH) as compelling given the company's growth outlook. The firm started shares off with an Outperform rating.
  
• William Blair also initiated Quest Diagnostics (NYSE: DGX) with a Market Perform rating, and prefers a wait-and-see approach as the company's diversification strategy unfolds.

OTHER INITIATIONS:

• Wachovia initiated Cleco (NYSE: CNL), ITC Holdings (NYSE: ITC) and Aqua America (NYSE: WTR) with Outperform ratings and American States Water (NYSE: AWR) with a Market Perform rating.
  
• Baird resumed coverage of Ritchie Bros (NYSE: RBA) with a Neutral rating and $78 target.