Top Pre-Market Upgrades/Downgrades (JOYG, MRK, ORCL, HOS, NE, STP, ALIM)

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

Upgrades:

• China Security & Surveillance Tech. (CSR) upgraded to Outperform at Oppenheimer
• Joy Global (JOYG) upgraded to Buy at Longbow
• Merck (MRK) upgraded to Buy at Argus
• Oracle (ORCL) upgraded to Buy at Caris

Downgrades:

• Hornbeck Offshore Services (HOS) downgraded to Neutral at JP Morgan
• Noble (NE) downgraded to Hold at Weeden
• Research In Motion (RIMM) target cut to $70 from $75 at UBS
• Suntech Power (STP) downgraded to Sell at Gabelli
• United States Steel (X) removed from Conviction Buy List at Goldman Sachs

Coverage Initiated:

• Alimera Sciences (ALIM) initiated with an Outperform at Cowen
• Dyax (DYAX) initiated with a Buy at Jefferies; price target $6
• Wendy’s Arby’s Group (WEN) initiated with a Neutral at Susquehanna

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