Analyst Upgrades

• TD Newcrest upgraded Agrium (AGU) to action list buy from hold based on a higher valuation supported by BHP's (BHP) bid for Potash (POT). The firm raised its price target for Agrium to $95 from $76.
• Wells Fargo upgraded Weingarten Realty (WRI) to outperform from market perform, citing valuation and stronger retail occupancy.
• Deutsche Bank upgraded Aegon (AEG) to buy from hold after the company won European Union approval for its recapitalization using state aid.
• HCP Inc. (HCP) was upgraded to buy from hold at Argus.
• MedAssets (MDAS) was upgraded to buy from accumulate at Madison Williams.
• BreitBurn Energy (BBEP) was upgraded to outperform from sector perform at RBC Capital.

MOST NOTEWORTHY: Energy Partners (EVEP) and HB Fuller (FUL) led a moderate initiation list Monday as the Dow and Nasdaq moved higher in early trading.

• AG Edwards initiated EV Energy Partners (NASDAQ:EVEP) a Buy and a $22 target, as the firm likes the company's experienced management team, debt-free balance sheet, and low-risk development opportunities.
• Keybanc initiated H.B. Fuller Co. (NYSE:FUL) with a Buy and $28 target, citing low manufacturing cost, portfolio mix and pricing power.
• CE Unterberg initiated Shanda Interactive Entertainment Ltd. (NASDAQ:SNDA) with a Buy and $21 target, as the firm is positive on the company's new revenue model.

OTHER INITIATIONS:

• UBS Investment initiated Ryanair (NASDAQ:RYAAY) with a Buy and a $60.41 target.
• Finally, SG Cowen initiated International Business Machines Corp. (NYSE:IBM) with a Neutral, citing valuation and a lack of traction in its services unit for the rating.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).