Analyst upgrades:

• Keefe Bruyette upgraded Blackstone Group (BX) to outperform from market perform following the company's Q3 results and maintains an $18.50 price target on shares.
• Baird upgraded Astec (ASTE) to outperform from neutral citing relative valuation and upside from new multi-year U.S. highway funding legislation. The firm raised its target to $33 from $27.
• Goldman upgraded Abercrombie & Fitch (ANF) to conviction buy from neutral citing "significant" long-term growth drivers that include international growth. The firm raised its target to $45 from $36.
• Ariad Pharmaceuticals (ARIA) was upgraded to overweight from neutral at JPMorgan.
• Energizer (ENR) was upgraded to overweight from equal weight at Morgan Stanley.
• AstraZeneca (AZN) was upgraded to buy from hold at RBS.

Analyst upgrades:

• Bernstein upgraded General Electric (NYSE: GE) to Outperform from Market Perform Thursday after the close. The firm sees an improved risk/reward on the stock and raised its price target to $19 from $18.
• Bernstein also upgraded Amazon.com (NASDAQ: AMZN) to Outperform from Market Perform as it believes sales growth and margin expansion expectations are too low. The firm raised its target on shares to $160 from $125.
• Piper Jaffray upgraded CBS (NYSE: CBS) to Neutral from Underweight following the company's Q3 results and raised its target on shares to $13 from $12.
• JPMorgan upgraded Macy's (NYSE: M) to Overweight from Neutral to reflect the company's improving comps. The firm has a $23 target on the stock.
• Ansys (NASDAQ: ANSS) was upgraded to Buy from Hold at Jefferies.
• Travelers (NYSE: TRV) was upgraded to Buy from Neutral at Goldman.
• Air Methods (NASDAQ: AIRM) was upgraded to Overweight from Equal Weight at Stephens.