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UAM posts

Analyst upgrades, downgrades and initiations: TASR, M, FDO, NVDA, DGX ...

Analyst upgrades:

Merriman upgraded Taser (NASDAQ: TASR) to Buy from Neutral as it believes current valuation levels do not reflect the company's market opportunities and that the law enforcement funding in President Obama's stimulus plan will boost sales in Q4 and FY10.
Goldman upgraded Macy's (NYSE: M) to Buy from Neutral and added shares to its Conviction Buy List based on reduced balance sheet concerns and improved risk/reward. The firm also raised their target to $8.25 from $8.
JP Morgan upgraded Family Dollar (NYSE: FDO) to Neutral from Underweight and raised its target to $29 from $19 following the better-than-expected Q2 report. The analyst continues to prefer Dollar Tree (NASDAQ: DLTR) and Wal-Mart (NYSE: WMT).
Goldman removed Universal Am (NYSE: UAM) from the Conviction Sell List.
McDermott (NYSE: MDR) was upgraded to Buy from Hold at Jefferies.
Canadian Natural (NYSE: CNQ) was upgraded to Sector Outperformer from Sector Performer at CIBC.

Analyst upgrades:

JP Morgan lowered its 2009 North American light vehicle production estimate by 13% to 11.2M and Europe by 10% to 19M. The firm upgraded Borg-Warner (NYSE: BWA) to Overweight from Neutral citing balance sheet and revenue growth.
Jefferies upgraded shares of Kroger (NYSE: KR) to Buy from Hold and raised its target to $32 from $28 as they expect the company's value image to benefit in the current environment.
Leerink upgraded AMAG Pharma (NASDAQ: AMAG) to Outperform from Market Perform on valuation as they believe current data is sufficient for some form of first cycle approval of Ferumoxytol.
Coca-Cola Enterprises (NYSE: CCE) was upgraded to Neutral from Underperform at Merrill Lynch.
Watsco (NYSE: WSO) was raised to Perform from Underperform at Oppenheimer.
UBS upgraded Invitrogen (NASDAQ: IVGN) to Buy from Neutral.

Analyst downgrades:

Jefferies downgraded shares of Whole Foods (NASDAQ: WFMI) to Underperform from Buy and lowered its target to $9.50 from $23 on the worsening macro environment, which they believe is "overwhelming" the company's ability to drive even flat comps in Q4 and FY09.
Deutsche Bank cut Texas Instruments (NYSE: TXN) to Hold from Buy and lowered its target to $19 from $28 following the company's worse-than-expected outlook, as they expect shares to be range bound.
Banc of America downgraded the Dry Bulk Shipping sector to Equal Weight from Overweight to reflect the "depressed" charter rate environment, tighter credit markets and the weakening macroeconomic outlook. The firm downgraded Britannia Bulk (NYSE: DWT), Navios Maritime (NYSE: NM) and TBS International (NASDAQ: TBSI) to Neutral from Buy.
Eaton (NYSE: ETN) was lowered to Underperform from Neutral at Merrill Lynch.
AXA (NYSE: AXA) was downgraded at JP Morgan to Neutral from Overweight.
Aracrus (NYSE: ARA) was downgraded to Underweight from Equal Weight at Morgan Stanley.