Analyst Upgrades

• Cree (CREE) and Rubicon Technology (RBCN) to buy from neutral at Merriman.
• Children's Place (PLCE) to outperform from market perform at BMO Capital.
• Lockheed Martin (LMT) to neutral from underperform at BofA/Merrill.
• Copano Energy (CPNO) to outperform from market perform at Morgan Keegan.
• Motorola Mobility (MMI) to neutral from reduce at Nomura.
• Parker-Hannifin (PH) to buy from hold at KeyBanc.
• Akamai (AKAM), ShoreTel (SHOR), AMB Property (AMB) and ProLogis (PLD) to buy from hold at Stifel Nicolaus.

Analyst Upgrades

• Kaufman Bros. upgraded Amazon.com (AMZN) to buy from hold as it finds the risk/reward on shares attractive following the recent pullback and expects the company to report strong Q4 results. Kaufman maintains a $155 price target on the stock.
• Baird upgraded DeVry (DV) to outperform from neutral and raised its target to $76 from $62. The firm said they have increased confidence in DeVry's ability to navigate through the ERP implementation.
• Benchmark Co. upgraded McGraw-Hill (MHP) to buy from hold on expectations the company's momentum should continue throughout 2010 due to improving debt markets, increased IPO issuance and steady education funding. The firm raised its target price on shares to $42 from $32.
• Best Buy (BBY) was upgraded to buy from neutral at Rochdale.
• AK Steel (AKS) was upgraded to buy from neutral at Goldman.
• Cooper Industries (CBE) was raised to buy from neutral at UBS.

MOST NOTEWORTHY: Kenneth Cole, Tempur Pedic, Biogen Idec, Cubist Pharma and ShoreTel were today's noteworthy initiations:

• B. Riley started shares of Kenneth Cole (NYSE: KCP) with a Neutral rating and $21 target, citing a lack of near-term catalysts and the challenging environment for footwear companies.
  
• William Blair resumed coverage of Tempur Pedic International (NYSE: TPX) with an Outperform rating, and finds the current valuation attractive for long-term investors.
  
• Banc of America assumed coverage of Biogen Idec (NASDAQ: BIIB) with a Neutral rating and $79 target, as they see less than 50% probability of a sale at current prices and expect shares to trade back to pre-announcement levels in the mid-to-high $60s if no sale is made.
  
• Cubist Pharmaceuticals (NASDAQ: CBST) was initiated with a Sector Performer rating at CIBC, citing competitive headwinds.
  
• ShoreTel (NASDAQ: SHOR) was initiated with a Neutral rating at Nollenberger on valuation.

OTHER INITIATIONS:

• UBS initiated CVS Caremark (NYSE: CVS) with a Buy rating and Rite Aid (RAD) and Walgreen (WAG) with Neutral ratings.
  
• Caris initiated Starent Networks (NASDAQ: STAR) with an Average rating and $23 target.

MOST NOTEWORTHY: Comcast (CMCSA), Time Warner Cable (TWC), CNet Networks (CNET), Coviden (COV) and I.D. Systems (IDSY) were today's noteworthy initiations:

• Banc of America resumed coverage of Comcast (NADAQ: CMCSA) and Time Warner Cable (NYSE: TWC) with Buy ratings and $32 and $43 targets, respectively.

• Stanford started CNet (NASDAQ: CNET) with a Buy rating and $10 target, as the company is well positioned to benefit from its developing web properties.

• Bear Stearns expects shares of Covidien (NYSE: COV) to move up, starting shares with an Outperform rating, as the management transforms the company from a cash flow focused conglomerate division into a faster-growing, nimble competitor.

• Merriman said I.D. Systems (NASDAQ: IDSY) is uniquely positioned in the wireless asset tracking market given its focus on industrial machinery and material handling equipment, starting shares with a Buy rating...

OTHER INITIATIONS:

• Comverse (OTC: CMVT) was initiated with a Neutral rating at Merriman.

• Lehman started Getty Images (NYSE: GYI) with a Equal Weight rating and ShoreTel (NASDAQ: SHOR) with an Overweight rating.

• Jefferies initiated Harmonic (NYSE: HLIT) with a Buy rating.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

MOST NOTEWORTHY: Old Dominion Freight (ODFL), Jamba (JMBA), AMD (AMD), Orbitz Worldwide (OWW) and Quest Diagnostics (DGX) were today's notable initiations:

• Baird is positive on Old Dominion's (NASDAQ: ODFL) growth opportunities, valuation, 2008 improving truck fundamentals, and a potentially seasonally stronger Q4, starting shares with an Overweight rating and $36 target.

• Merriman initiated Jamba (NASDAQ: JMBA) with a Buy rating, as the company aggressively expands its store base beyond California.

• BMO Capital believes AMD (NYSE: AMD) may lose the Intel platform integrated graphics market, and sizeable Intel platform discrete graphics market share. The firm initiated AMD shares with an Underperform rating and $10 target.

• Soleil has concerns regarding Orbitz Worldwide's (NYSE: OWW) decelerating growth and poorer business mix vs. competitors and started shares with a Hold rating and $13 target.

• Credit Suisse initiated Quest Diagnostics (NYSE: DGX) with a Neutral rating and $61 target, citing the recent UnitedHealth (UNH) contract loss, slowing growth, and valuation for its Neutral rating...

OTHER INITIATIONS:

• McDermott (NYSE: MDR) and Capella Education (NASDAQ: CPLA) were initiated with Buy ratings at Citigroup.

• JMP Securities started ShoreTel (NASDAQ: SHOR) with a Market Outperform rating.

• Credit Suisse initiated LabCorp (NYSE: LH) with an Outperform rating.

• FTN Midwest started Northwest Airlines (NYSE: NWA) with a Buy rating.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Just call it the last equity blast before summer. Wall Street's equity market offers a full schedule this week, as lead managers and companies attempt to capture as much buy-side demand as possible a week before the shorter 4th of July week, which is traditionally the start of a lighter syndicate period on Wall Street.

All told, 11 IPOs and 8 Secondaries are on the docket. Those deals tentatively scheduled to price include:

IPOs:

Tuesday

• GSC Acquistion (GGA), a 15M-share IPO for this business financing company. Ladenburg, Thalman & Co. and I-Bankers Securities are the lead managers. Filing price: $10.00.
• Spectra Energy Partners LP (SEP), a 10M-share IPO for this natural gas MLP. Citigroup and Lehman Brothers are the lead managers. Filing range: $19.00-$21.00.