MOST NOTEWORTHY: Walgreen, Crown Castle and Brunswick were today's noteworthy initiations:
Thomas Weisel started shares of Walgreen (NYSE: WAG) with an Overweight rating and $43 target. The firm is positive on WAG's steady cash flow and solid growth profile.
Merriman believes Crown Castle (NYSE: CCI) is a core wireless holding given its high-margin, predictable recurring revenue model. They believe shares can trade to the $49-$51 range assuming management continues to execute on its free cash flow growth target. Shares were assumed with a Buy rating.
KeyBanc initiated Brunswick (NYSE: BC) with a Hold rating and expects the recreational marine market to be challenging given weakening consumer spending trends.
OTHER INITIATIONS:
Citigroup initiated Gerdau AmeriSteel (NYSE: GNA) with a Buy rating and $21 target.
Piper assumed Teradyne (NYSE: TER) with a Neutral rating and $14 target.
International Speedway (NASDAQ: ISCA) was initiated at Stephens with an Overweight rating and $50 target.
MOST NOTEWORTHY: Teradyne, Omnivision and DemandTec were today's noteworthy upgrades:
Oppenheimer upgraded shares of Teradyne Inc (NYSE: TER) to Outperform from Perform after channel checks indicated several positive catalysts, including continued market share gains and that the company is benefiting from the inventory build of game consoles.
Jefferies upgraded Omnivision Technologies (NASDAQ: OVTI) to Buy from Hold and named the stock their Tuesday Value Pick, as they find the risk/reward favorable at current levels. Jefferies thinks fundamentals will likely bottom in the April quarter.
JMP Securities raised DemandTec Inc (NASDAQ: DMAN) to Strong Buy from Outperform, as they believe the company had a very strong close to the year and is seeing real traction with its Promotions product.
MOST NOTEWORTHY: Amag Pharmaceuticals, Corn Products and Alpharma were today's noteworthy initiations:
Baird initiated Amag Pharmaceuticals (NASDAQ: AMAG) with an Outperform rating and believes concerns regarding ferumoxytol approvability are misplaced.
JP Morgan assumed coverage of Corn Products (NYSE: CPO) with an Overweight rating and points to the company's growth in emerging markets and improved business economics in its core U.S. market.
RBC Capital is positive on Alpharma's (NYSE: ALO) Flector opportunity in the U.S. topical NSAID market. The firm started shares with an Outperform rating and $28 target.
OTHER INITIATIONS:
Merrill resumed coverage of Baxter (NYSE: BAX) with a Buy rating.
Goldman initiated Teradyne (NYSE: TER) with a Neutral rating and $11 target.
Allianz AG (NYSE: AZ) was initiated with a Buy rating at Societe Generale.
MOST NOTEWORTHY: Apollo Group, Zoran, AmSurg Corp, Apple and Tribune Co were today's noteworthy upgrades:
Baird upgraded shares of Apollo Group (NASDAQ: APOL) to Outperform from Neutral based on positive enrollment and revenue trends, margin improvement, and a strategic international announcement.
CIBC upped its rating on Zoran Corporation (NASDAQ: ZRAN) to Sector Outperformer from Sector Performer following strong Q3 results and guidance.
Jefferies upgraded shares of AmSurg Corp (NASDAQ: AMSG) to Buy from Hold as they believe the new CEO is preparing to drive earnings growth through acquisitions.
ThinkEquity continues to expect Apple (NASDAQ: AAPL) to outpace the industry in growth. The firm upgraded shares to Buy from Accumulate.
Barrington upgraded shares of Tribune Company (NYSE: TRB) to Market Perform from Underperform on valuation, as they believe the current price significantly discounts the risks of the going private transaction getting done.
MOST NOTEWORTHY: CheckFree Corp (CKFR), Sprint Nextel Corp (S) and the semiconductor capital equipment sector were some of today's more noteworthy downgrades:
Piper Jaffray downgraded Checkfree Corp (NASDAQ: CKFR) to Market Perform from Outperform after transferring coverage of the payment processor company.
Sprint Nextel Corp (NYSE: S) was cut to Outperform from Strong Buy at Raymond James.
ThinkEquity cut Jones Soda Co (NASDAQ: JSDA) to Source of Funds from Buy based on valuation.
Goldman is now cautious on the biofuel sector, downgrading the group to Cautious from Neutral.
William Blair downgraded shares of Medimmune, Inc (NASDAQ: MEDI) to Market Perform from Outperform.
Credit Suisse downgraded shares of Big 5 Sporting Goods Corp (NASDAQ: BGFV) to Underperform from Neutral citing valuation.
Wachovia dropped Inkeepers USA Trust (NYSE: KPA) to Underperform from Outperform based on the acquisition from Apollo Investment Corp (AINV). Citigroup cut Inkeepers to Hold from Buy.
MORE NOTEWORTHY: InterMune, Inc (ITMN), Riverbed Technology, Inc (RVBD), Credence Systems Corp (CMOS) and MWI Veterinary Supply, Inc (MWIV) were today's more notable initiations:
American Technology started InterMune Inc (NASDAQ: ITMN) with a Buy rating and $29 target as the firm believes the recent share weakness in InterMune provides a buying opportunity. The firm expects significant news flow from the ITMN-191 program over the next 12 months to provide positive catalysts to shares.
Pacific Crest initiated Riverbed Technology Inc (NASDAQ: RVBD) with an Underperform rating and $22 target, citing valuation.
Credit Suisse started Credence Systems (NASDAQ: CMOS) with an Underperform rating and $3 target.
JP Morgan started MWI Veterinary (NASDAQ: MWIV) with an Overweight rating, saying industry fundamentals are favorable and MWIV's growth prospects are strong.
OTHER INITIATIONS:
UBS & Merrill Lynch both started Duncan Energy Partners (NYSE: DEP) with a Neutral rating.
Employers Holdings, Inc (NYSE: EIG) was initiated with an Equal-Weight rating at Morgan Stanley.
Needham initiated Cascade Microtech, Inc (NASDAQ: CSCD) with a Buy rating and $18 target.
Credit Suisse assumed coverage of Teradyne, Inc (NYSE: TER) and Amkor Technology (NASDAQ: AMKR) with a Neutral rating and $17 target.
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MOST NOTEWORTHY: Walgreen, Crown Castle and Brunswick were today's noteworthy initiations:.gif){kind=logo}
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MORE NOTEWORTHY: InterMune, Inc (ITMN), Riverbed Technology, Inc (RVBD), Credence Systems Corp (CMOS) and MWI Veterinary Supply, Inc (MWIV) were today's more notable initiations: 
John McCain, losing ground, goes for broke tonight
If nothing else, gasoline prices are falling!
Closing Bell: Dow slump puts bulls on suicide watch; BAC, MS, F, FSLR all down, AMD up
