Analyst upgrades:

• Wells Fargo upgraded Prudential (PRU) to outperform from market perform. The firm thinks the company is in a better position than its peers and will be able to more effectively exploit M&A opportunities.
• UBS upgraded Reliance Steel (RS) to buy from neutral based on potential growth through M&A and valuation. The firm raised its target to $50 from $49.
• Deutsche Bank upgraded Eastman Chemical (EMN) to buy from hold on expectations the company's portfolio transformation will drive higher normalized earnings power, which the firm believes is not fully reflected in consensus estimates. Deutsche raised its target price on shares to $70 from $62.
• Amylin Pharma (AMLN) was upgraded to overweight from equal weight at Barclays.
• Cephalon (CEPH) was upgraded to buy from hold at Jefferies.
• Acuity Brands (AYI) was upgraded to outperform from perform at Oppenheimer.

Continue reading Analyst upgrades, downgrades and initiations: BLK, CIEN, PCLN, PRU, RS, TIF, UNP ...

Analyst upgrades, downgrades and initiations: BLK, CIEN, PCLN, PRU, RS, TIF, UNP ... originally appeared on BloggingStocks on Tue, 24 Nov 2009 11:45:00 EST. Please see our terms for use of feeds.