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Analyst upgrades, downgrades and initiations: VIA, RIMM, ARO, JPM, BMY

Analyst upgrades:
  • Piper Jaffray upgraded Viacom (NYSE:VIA) to Overweight from Neutral to reflect the improving ad market and better ratings at key cable networks. The firm raised its target on shares to $35 from $29.
  • Baird upgraded Research in Motion (NASDAQ:RIMM) to Outperform from Neutral on valuation as it views the recent weakness as a buying opportunity. The firm keeps an $84 price target on shares.
  • Jefferies upgraded Usana (NASDAQ:USNA) to Buy from Hold as it believes direct selling companies have been gaining momentum. The firm raised its target on shares to $44 from $37.
  • AK Steel (NYSE:AKS) was upgraded to Buy from Hold at Deutsche Bank.
  • First Merit (NASDAQ:FMER) was upgraded to Perform from Underperform at Oppenheimer.
  • Spectra Energy (NYSE:SE) was upgraded to Conviction Buy from Neutral at Goldman.

Continue reading Analyst upgrades, downgrades and initiations: VIA, RIMM, ARO, JPM, BMY

Analyst initiations 2-12-07: PetSmart kept on a leash, initiated with a Neutral at UBS

MOST NOTEWORTHY: Odyssey Re Holdings Corp (ORH) was today's only notable initiation:
  • Shares of the reinsurance underwriter Odyssey Re Holdings Corp (NYSE: ORH) was initiated at Citigroup with a Sell rating and $39 target, citing high valuation, the impact from past legacy underwriting business and risk of further SEC investigation related to majority shareholder Fairfax Financial Holdings Ltd (FFH).
OTHER INITIATIONS:
  • UBS started PetSmart inc (NASDAQ: PETM) with a Neutral rating and $35 target.
  • Bear Stearns initiated Autodesk inc (NASDAQ: ADSK) with a Peer Perform rating.
  • B. Riley started Design Within Reach Inc (NASDAQ: DWRI) with a Buy rating and $10 target.
  • Goldman Sachs resumed coverage of AXA Financial ADS (NYSE: AXA) with a Buy rating.
  • Credit Suisse started CB Richard Ellis Group Inc (NYSE: CBG) with an Outperform rating and $44 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+80.0312,881.26
NASDAQ+28.302,932.18
S&P 500+9.221,351.86

Last updated: February 13, 2012: 03:24 PM

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