Top Pre-Market Stock Upgrades/Downgrades May 20, 2010

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

Upgrades:

• Aruba Networks (ARUN) upgraded to Buy at Stifel Nicolaus; price target $14
• Dell (DELL) upgraded to Buy at Standpoint Research
• Hewlett-Packard (HPQ) upgraded to Buy at Standpoint Research
• GFI Group (GFIG) upgraded to Outperform at Keefe, Bruyette & Woods
• FedEx (FDX) upgraded to Buy at Stifel Nicolaus; price target $102
• First Solar (FSLR) upgraded to Outperform at Macquarie
• United Parcel Service (UPS) upgraded to Buy at Stifel Nicolaus; price target $76
• VeriSign (VRSN) upgraded to Buy at Deutsche Bank

Downgrades:

• ArcelorMittal (MT) downgraded to Neutral at BofA/Merrill Lynch
• Research in Motion (RIMM) downgraded to Underperform at Cowen
• Rio Tinto (RTP) downgraded to Neutral at BofA/Merrill Lynch
• Symantec (SYMC) downgraded to Neutral at Macquarie
• Walgreen (WAG) downgraded to Neutral at Credit Suisse

Coverage Initiated:

• Amazon.com (AMZN) initiated with a Buy at Stifel Nicolaus; price target $160
• CVS Caremark (CVS) initiated as Positive at Susquehanna
• Geron (GERN) initiated with a Buy at Roth
• Tengion (TNGN) initiated with an Overweight at Piper Jaffray
• Whole Foods Market (WFMI) initiated as Positive at Susquehanna