Analyst Upgrades

• Interpublic Group (IPG) to buy from hold at Deutsche Bank.
• Radware (RDWR) to outperform from perform at Oppenheimer.
• Fluor (FLR) and Waddell & Reed (WDR) to buy from hold, as well as AllianceBernstein (AB) to hold from sell, at Citigroup.
• MetroCorp (MCBI) and American Capital (AGNC) to outperform from market perform at Keefe Bruyette.
• International Flavors (IFF) to overweight from equal weight at Barclays.
• BioCryst (BCRX) and Southern Company (SO) to buy from neutral at BofA/Merrill.
• Bunge (BG) to overweight from neutral at HSBC.

Roger Staubach has a storied background. He's a graduate of the US Navel Academy and served four years as a Navy officer. From there, he became a legendary quarterback for the Dallas Cowboys and won two Super Bowls. Interestingly, while playing pro football, he started a career in the real estate.

The result was The Staubach Company, an advisory practice that helps with site selection, acquisition and disposition of office, industrial and retail properties.

Well, this week, Staubach has another accomplishment to add to his resume: he has sold his company to Jones Lang LaSalle Inc. (NYSE: JLL) for $613 million. The transaction involves an initial $123 million cash payment and $100 million in stock. Then, over the next five years, the remaining amount will be paid out.

MOST NOTEWORTHY: Allscripts, Supertel Hospitality, Cephalon, Limelight Networks and Financial Federal were today's noteworthy downgrades:

• Allscripts (NASDAQ: MDRX) was downgraded to Neutral from Outperform at JP Morgan following its weak Q3 results and guidance.
  
• Supertel Hospitality (NASDAQ: SPPR) was downgraded to Neutral from Outperform at Baird and to Market Perform from Outperform at JMP Securities following its disappointing Q3 report.
  
• JMP securities downgraded Cephalon (NASDAQ: CEPH) to Market Outperform from Strong Buy citing uninspiring Q3 revenue growth.
  
• Friedman Billings downgraded Limelight Networks (NASDAQ: LLNW) to Market Perform from Outperform citing the tough pricing environment, competition, and upcoming IPO lockup expiration on 12/5.
  
• The firm also downgraded shares of Financial Federal (NYSE: FIF) to Underperform from Market Perform, as they expect the company to be impacted substantially from the slowing economy.

OTHER DOWNGRADES:

• JP Morgan removed Jones Lang LaSalle (NYSE: JLL) and CB Richard Ellis (NYSE: CBG) from its Focus List.
  
• Deutsche Bank downgraded Home Diagnostics (NASDAQ: HDIX) to Hold from Buy.
  
• Finisar (NASDAQ: FNSR) was downgraded to Hold from Buy at Jefferies.
  
• Banc of America downgraded RPM, Inc (NYSE: RPM) to Neutral from Buy.

MOST NOTEWORTHY: Shutterfly, Drugstore.com, S.Y. Bancorp and Stericycle were today's noteworthy initiations:

• Oppenheimer started shares of Shutterfly Inc (NASDAQ: SFLY) with a Buy rating and $42 target. The firm believes secular growth in digital photography and increasing adoption of user generated print publishing will drive EBITDA growth of 30%-40% over the next 2-3 years.
  
• Oppenheimer also initiated Drugstore.com Inc (NASDAQ: DSCM) with a Buy rating and $5 target, as they expect growth in the company's higher margin beauty segment could drive EBITDA above consensus estimates.
  
• Baird is positive on S.Y. Bancorp Inc's (NASDAQ: SYBT) valuation, capital-rich balance sheet, and top-tier profitability and resumed coverage with an Outperform rating.
  
• The firm also started shares of Stericycle Inc (NASDAQ: SRCL) with a Neutral rating, noting it would be more aggressive on shares in the mid-$40s or if earnings catch up with the passing of time.

OTHER INITIATIONS:

• UBS initiated Praxair Inc (NYSE: PX) with a Buy rating and $94 target and added shares to its Strategic Stock Selection List.
  
• Lehman initiated Infosys Technologies Ltd (NASDAQ: INFY) with an Equal Weight rating and Wipro Limited (NYSE: WIT) with an Underweight rating.
  
• William Blair reinstated coverage of the commercial real estate services sector, starting FirstService Corporation (NASDAQ: FSRV) with an Outperform rating, Jones Lang LaSalle Incorporated (NYSE: JLL) with a Market Perform rating and CB Richard Ellis Group Inc (NYSE: CBG) with a Market Perform rating.

MOST NOTEWORTHY: Restaurants, CB Richard Ellis Group Inc (NYSE: CBG) and Jones Lang LaSalle Incorporated (NYSE: JLL) were today's noteworthy initiations:

• Deutsche Bank initiated shares of McDonald's Corporation (NYSE: MCD) and Yum! Brands Inc (NYSE: YUM) with Buy ratings and a $61 target and $76 target, respectively, and shares of Panera Bread Company (NASDAQ: PNRA) and Chipotle Mexican Grill Inc (NYSE: CMG) with Hold ratings an a $54 target and $83 target, respectively.
• Wachovia initiated shares of CB Richard Ellis with an Outperform rating, as it views CBG as a compelling investment opportunity giving its leading position in the top real estate markets and breadth of services.
• Wachovia also initiated shares of Jones Lang LaSalle with an Outperform rating, as it expects JLL to benefit from international services given the increasing flow of real estate dollars across boarders and to less well developed regions of the globe.

OTHER INITIATIONS:

• Citigroup initiated shares of GameStop Corp (NYSE: GME) with a Buy rating and $46 target.
• Citigroup also initiated shares of The PNC Financial Services Group Inc (NYSE: PNC) with a Buy rating and $84 target.
• Soleil initiated shares of Salesforce.com Inc (NYSE: CRM) with a Buy rating and $50 target.
• Goldman Sachs initiated shares of 3M Company (NYSE: MMM) and LM Ericsson Telephone Company (NASDAQ: ERIC) with Neutral ratings.