Top Pre-Market Stock Upgrades/Downgrades March 25, 2010

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

Upgrades:

• eBAY (EBAY) upgraded to Outperform from Neutral at Credit Suisse
• Marriott International (MAR) upgraded to Overweight from Neutral at JP Morgan
• Nike (NKE) upgraded to Overweight from Neutral at HSBC Securities
• Progressive (PGR) upgraded to Buy from Neutral at Janney Montgomery Scott
• VanceInfo Technologies (VIT) upgraded to Buy from Hold at Kaufman
• Werner Enterprises (WERN) upgraded to Neutral from Underperform at Credit Suisse

Downgrades:

• Brocade Communications Systems (BRCD) downgraded to Perform from Outperform at Bernstein
• Electro-Optical Sciences (MELA) downgraded to Sell Short from Sell at WBB Securities
• Genzyme (GENZ) downgraded to Underweight from Neutral at JP Morgan
• Starbucks (SBUX) downgraded to Neutral from Outperform at Baird
• Vodafone (VOD) downgraded to Underweight from Overweight at Morgan Stanley

Coverage Initiated:

• Arch Coal (ACI) initiated with a Buy at Deutsche Bank; price target $32
• Shanda Games (GAME) initiated with a Buy at Auriga; price target $10
• J. Crew (JCG) initiated with an Outperform at Baird; price target $55
• Research In Motion (RIMM) initiated with a Perform at Rodman & Renshaw

Coverage Resumed:

• First Solar (FSLR) resumed with a Buy at Kaufman; price target $143