Below is a list of analyst upgrades, downgrades, and initiations in Wall Street research calls this Tuesday morning with roughly half an hour until the market opens.
Analyst Upgrades:
- Stifel Nicolaus raise their price target on Hewlett-Packard (HPQ) to $62 from $58
- Banco de Chile (BCH) upgraded to Overweight at JP Morgan ; price target raised to$67 from $56
- Kaufman raises their price target on Infosys (INFY) to $53 from $48
- Tellabs (TLAB) upgraded to Buy at Soleil ; price target set at $7.25
- Oppenheimer raise their price target on Arch Chemicals (ARJ) to $34 from $32
- Acuity Brands (AYI) upgraded to Outperform at Oppenheimer ; price target raised to $40 from $37
- Hertz Global (HTZ) upgraded to Buy at Argus ; price target set at $12
- Eastman Chemical Co. (EMN) upgraded to Buy at Deutsche Bank ; price target raised to $70 from $62
- Reliance Steel (RS) upgraded to Buy at UBS
- Amylin Pharmaceuticals (AMLN) upgraded to Overweight at Barclays Capital
- Pantry Inc. (PTRY) upgraded to Outperform at BMO Capital Markets ; price target raised to $17 from $16
- Credit Suisse raise their price target on Campbell Soup (CPB) to $38 from $35
- Prudential (PRU) upgraded to Outperform at Wells Fargo
- Cephalon Inc. (CEPH) upgraded to Buy at Jefferies & Co ; price target raised to $63 from $58
- Lakeland Financial (LKFN) upgraded to Buy at Stifel Nicolaus ; price target set at $22
- Analog Devices (ADI) upgraded to Overweight at GC Research ; price target raised to $34 from $31
- Asbury Automotive (ABG) upgraded to Buy at Deutsche Bank ; price target raised to $13.50 from $14.50
Analyst Downgrades:
- Ciena (CIEN) downgraded to Underperform at Jefferies & Co ; price target lowered to $9 from $11
- Dell Inc. (DELL) downgraded to Market Perform at First Global
- Netflix (NFLX) downgraded to Underperform at Wedbush Morgan ; price target maintained at $50
- Interpublic Group of Companies (IPG) downgraded to Hold at Argus
- Auriga lowers its price target on ADTRAN Inc. (ADTN) to $19 from $28
- Yingli Green Energy (YGE) downgraded to Neutral at Broadpoint AmTech Research
- Union Pacific (UNP) downgraded to Neutral at UBS
- Alnylam Pharmaceutical (ALNY) downgraded to Hold at Roth Capital ; price target lowered to $17 from $26
- SAP AG (SAP) downgraded to Underperform at Wedbush Morgan
- Autoliv Inc. (ALV) downgraded to Hold at KeyBanc Capital Markets
Coverage Initiated:
- Coca-Cola Enterprises (CCE) initiated with a Hold and a $23 target at Citigroup
- Blackrock (BLK) initiated with an Outperform at JMP Securities ; price target set at $275
- Brookfield Infrastructure Partners LP (BIP) resumed with a Neutral at Credit Suisse
- Lexicon Pharmacutical (LXRX) initiated with an Overweight at Thomas Weisel ; price target set at $2.50
- Coca-Cola Bottling Co. (COKE) initiated with a Hold at Citigroup ; price target set at $52
- Auxillium Pharmaceutical (AUXL) resumed with a Buy and a $41 target at Bank of America/Merrill
- Quest Diagnostics (DGX) resumed with a Market Perform at Wells Fargo
- Advisory Board (ABCO) initiated with an Overweight at Piper Jaffray ; price target set at $31
- GlaxoSmithKline (GSK) initiated with a Market Perform at Leerink swann
- Computer Programs & Systems Inc. (CPSI) initiated with an Overweight at Piper Jaffray ; price target set at $65
- Laboratory Corp (LH) resumed with a Market Perform and a $70 target at Wells Fargo
- TreeHouse Foods (THS) initiated with a Hold at BB&T
- Simmons First National (SFNC) initiated with an Outperform at Raymond James ; price target set at $30
- St. Jude Medical (STJ) initiated with a Buy at Morgan Joseph ; price target set at $42
- Curis Inc. (CRIS) initiated with a Buy at Think Equity
- Franklin Resources (BEN) initiated with a Market Perform at JMP Securities
- Airvana (AIRV) initiated with a Hold at Cantor Fitzgerald ; price target set at $7.50
- Allos Therapeutics (ALTH) initiated with a Buy at Think Equity
- Electronic Arts (ERTS) initiated with a Market Perform at Wells Fargo
- Associated Estates Realty (AEC) initiated a Market Perform at Keefe Bruyette
- THQ Inc (THQI) initiated with a Market Perform at Wells Fargo
- Activision Blizzard (ATVI) initiated with an Outperform at Wells Fargo
- SolarWinds (SWI) initiated with an Outperform at FBR Capital ; price target set at $24
- Alpha Natural Resources (ANR) initiated with a Buy at Jefferies & Co ; price target set at $50
- KIT digital (KITD) initiated with a Buy at Roth Capital ; price target set at $16
- Hanger Orthopedic (HGR) initiated with a Buy at Sun Trust Rbsn Humphrey ; price target set at $17
- Perry Ellis (PERY) initiated with a Buy at Needham ; price target set at $17
- Tiffany & Co (TIF) initiated with a Buy and a $50 target at KeyBanc Capital Markets
- Expedia (EXPE) initiated with a Buy and a $31 target at Collins Stewart
- Priceline.com (PCLN) initiated with a Hold and a $225 target at Collins Stewart
On the news front this morning:
- FBN reports TiVo (TIVO) unveiled a new alliance Tuesday with Google (GOOG) where the tech titan will license and integrate TiVo’s television viewing data to its measure audiences for advertisements. The companies didn’t disclose financial terms for the deal, which will give Google TV Ads access to anonymous, second-by-second DVR viewing data from TiVo’s subscribers. The alliance will allow Google to “substantially enhance the measurement and accountability of ad impressions for inventory” sold on the company’s auction-based system.
- Hewlett-Packard (HPQ) reported on Monday a 14% profit for the period ended Oct. 31. The maker of printers and PCs said its earnings jumped to $2.4 billion, or 99 cents per share, in the three months ended Oct. 31. That compares with $2.1 billion, or 84 cents per share, in the year-ago period. Excluding one-time items, net income totaled $1.14 per share.
- Barnes & Noble Inc. (BKS) reported Tuesday a second-quarter net loss of $24 million, or 43 cents a share, from a loss of $18 million, or 34 cents a share, in the year-ago period. The latest quarter’s results included one-time transaction expenses of 13 cents a share related to its College acquisition. Revenue rose to $1.16 billion from $1.11 billion.
- H.J. Heinz Co.’s (HNZ) second-quarter profit dropped 16 percent from last year. The co. said it earned $231.4 million, or 73 cents per share, for the three months ended Oct. 28. That’s down from $276.7 million, or 87 cents per share, a year earlier.
