Top Pre-Market Stock Upgrades/Downgrades March 23, 2010

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

Upgrades:

• Alliant Techsystems (ATK) upgraded to Overweight from Neutral JP Morgan
• American Superconductor (AMSC) upgraded to Buy from Hold at Jefferies
• Baidu (BIDU) upgraded to Buy from Hold at Kaufman
• China Telecom (CHA) upgraded to Neutral from Underweight at HSBC
• Flextronics International (FLEX) upgraded to Strong Buy from Outperform at Raymond James
• Saks (SKS) upgraded to Overweight from Neutral at JP Morgan
• SAP (SAP) upgraded to Overweight from Neutral at Piper Jaffray
• Sequenom (SQNM) upgraded to Buy from Hold at Lazard

Downgrades:

• Accuray (ARAY) downgraded to Sell from Hold at Soleil
• AFLAC (AFL) downgraded to Perform from Outperform at Bernstein
• PetSmart (PETM) downgraded to Neutral from Buy at Janney Montgomery Scott
• Synaptics (SYNA) downgraded to Hold from Buy at Needham

Coverage Initiated:

• Caterpillar (CAT) initiated with an Outperform at Avondale
• Nokia (NOK) initiated with a Buy at Wunderlich