Top Pre-Market Stock Upgrades/Downgrades May 7, 2010

Here is a list of this morning’s top companies upgrades, downgrades, and initiations by brokerage firms.

Upgrades:

• Alcoa (AA) upgraded to Outperform from Perform at BMO Capital Markets
• Autodesk (ADSK) upgraded to Buy from Hold at ThinkEquity
• China Automotive Systems (CAAS) upgraded to Buy from Neutral at Merriman
• Cogent (COGT) upgraded to Neutral from Underweight at JP Morgan
• Excel Maritime Carriers (EXM) upgraded to Outperform from Perform at Oppenheimer; price target $8
• Idenix Pharmaceuticals (IDIX) upgraded to Outperform from Perform at JMP Securities; price target $8
• JA Solar (JASO) upgraded to Buy from Hold at Collins Stewart; price target $7.50
• Lamar Advertising (LAMR) upgraded to Outperform from Perform at Oppenheimer
• Multi-Fineline Electronix (MFLX) upgraded to Buy from Hold at Needham; price target $28
• Pepco Holdings (POM) upgraded to Buy from Neutral at SunTrust; price target $18
• The PMI Group (PMI) upgraded to Outperform from Perform at Keefe Bruyette
• priceline.com (PCLN) upgraded to Buy from Hold at ThinkEquity
• Radian Group (RDN) upgraded to Outperform from Perform at Keefe Bruyette; price target $15

Downgrades:

• Energy Recovery (ERII) downgraded to Neutral from Outperform at Baird; price target $6 from $8
• Fuel Systems Solutions (FSYS) downgraded to Weight from Overweight at Thomas Weisel; price target $28 from $35
• Leap Wireless International (LEAP) downgraded to Hold from Buy at Citigroup
• Transocean (RIG) downgraded to Underperform from Buy at Calyon
• Wonder Auto Technology (WATG) downgraded to Neutral from Buy at Merriman

Coverage Initiated:

• Adobe Systems (ADBE) initiated with a Buy at ThinkEquity; price target $43
• Advanced Energy Industries (AEIS) initiated with a Buy at Merriman
• ANSYS (ANSS) initiated with a Buy at ThinkEquity; price target $54
• VIVUS (VVUS) initiated with a Buy at Davenport

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