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Analyst upgrades, downgrades and initiations

Analyst upgrades:
  • UBS upgraded Safeway (NYSE:SWY) to Buy from Neutral based on valuation.
  • AthroCare (NASDAQ:ARTC) was raised to Neutral from Negative at Susquehanna on valuation.
  • BT Group (NYSE:BT) was raised to Neutral from Underperform at Credit Suisse.
  • Leap Wireless (NASDAQ:LEAP) was upgraded at Goldman to Buy from Neutral.
  • China Mobile (NYSE:CHL) was upgraded to Buy from Neutral at Merrill Lynch.
Analyst downgrades:
  • Jefferies downgraded shares of Albany Molecular (NASDAQ:AMRI) to Underperform from Hold on concerns regarding the company's exposure to small biopharma as their checks suggest biopharmaceutical companies that rely on the capital markets to fund operations are cutting back significantly on R&D projects. The firm lowered their target to $8 from $10.
  • Baird downgraded Sirona Dental (NASDAQ:SIRO) to Neutral from Outperform and lowered their target to $15 from $21 due to lack of catalysts and better options in dental.
  • Stephens cut Hub Group (NASDAQ:HUBG) to Equal Weight from Overweight on the expectation that weaker volumes will lead to pricing pressure. The firm lowered their target to $24 from $36.
  • Teco Energy (NYSE:TE) was downgraded to Hold from Buy at KeyBanc.
  • RF Micro Devices (NASDAQ:RFMD) was lowered to Underperform from Buy at Merrill Lynch.
  • Energy Conversion (NASDAQ:ENER) was cut to Underweight from Equal Weight at Barclays.

Continue reading Analyst upgrades, downgrades and initiations

Analyst upgrades: PXD, GHDX and ATEC

MOST NOTEWORTHY: Pioneer Natural, Genomic Health and Alphatec were today's noteworthy upgrades:
  • Citigroup upgraded shares of Pioneer Natural Resources Company (NYSE: PXD) to Buy from Hold on valuation following the recent weakness.
  • Genomic Health Inc (NASDAQ: GHDX) was raised to Outperform from Sector Perform at RBC Capital, as they believe momentum for the company's Oncotype Dx test is building based on inclusion in new clinical guidelines and expanded reimbursement.
  • Alphatec Holdings Inc (NASDAQ: ATEC) was upgraded to Buy from Source of Funds at Think Equity, citing the new CEO's efforts to overhaul the company, which has positioned it for growth.
OTHER UPGRADES:

Symbol Lookup
IndexesChangePrice
DJIA+23.2810,270.25
NASDAQ+10.722,161.80
S&P 500+3.391,096.40

Last updated: November 11, 2009: 12:25 PM

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