Top Pre-Market Upgrades/Downgrades (AA, BP, C, NVDA, RIG, VMW, VRTX, CLRT, ADBE, DWA)

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

Upgrades:

• Alcoa (AA) upgraded to Outperform at Macquarie
• BP (BP) upgraded to Buy at Benchmark
• Cerner (CERN) upgraded to Overweight at JPMorgan
• Citigroup (C) upgraded to Outperform at Oppenheimer
• NVIDIA (NVDA) upgraded to Outperform at FBR
• Transocean (RIG) upgraded to Outperform at Macquarie
• VMware (VMW) upgraded to Outperform at RBC
• Vertex Pharmaceuticals (VRTX) upgraded to Neutral at Wedbush

Downgrades:

• Adobe Systems (ADBE) downgraded to Sector Perform at RBC
• DreamWorks Animation (DWA) downgraded to Hold at Jefferies

Coverage Initiated:

• Celera (CRA) initiated with a Buy at Jefferies
• Clarient (CLRT) initiated with a Buy at Benchmark
• Entropic Communications (ENTR) initiated with a Buy at ThinkEquity
• QuinStreet (QNST) initiated with an Outperform at Raymond James
• ValueClick (VCLK) initiated with a Strong Buy at Raymond James