Top Pre-Market Upgrades/Downgrades (BP, EMC, GME, MSFT, NE, BCON, BRCD, MCD)

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

Upgrades:

• Acergy (ACGY) upgraded to Buy at UBS
• BP (BP) upgraded to Outperform at Oppenheimer
• EMC (EMC) upgraded to Buy at Caris
• GameStop (GME) upgraded to Buy at Janney Montgomery Scott
• Gentex (GNTX) upgraded to Buy at Soleil
• Microsoft (MSFT) upgraded to Outperform at FBR
• Quidel (QDEL) upgraded to Outperform at Wedbush

Downgrades:

• Akamai Technologies (AKAM) downgraded to Sector Perform at Pacific Crest
• Foster Wheeler (FWLT) downgraded to Neutral at Goldman Sachs
• Noble (NE) downgraded to Market Perform at BMO Capital Markets
• Semtech (SMTC) downgraded to Below Average at Caris
• Union Pacific (UNP) downgraded to Market Perform at BMO Capital Markets

Coverage Initiated:

• Beacon Power (BCON) initiated with a Buy at Ardour Capital; price target $1.50
• Brocade (BRCD) initiated with a Buy at Citigroup
• Cbeyond (CBEY) initiated with an Outperform at William Blair
• Manitowoc (MTW) initiated with an Equal Weight at Morgan Stanley
• McDonald’s (MCD) initiated with a Buy at Stern Agee
• SAVVIS (SVVS) initiated with a Perform at William Blair