Top Pre-Market Upgrades/Downgrades (PPDI, ANN, ATPG, CVLT, BAC, WFC, PCTI)

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

Upgrades:

• Pharmaceutical Product Development (PPDI) upgraded to Buy at Goldman Sachs

Downgrades:

• Amedisys (AMED) downgraded to Sector Perform at RBC Capital
• AnnTaylor Stores (ANN) downgraded to Neutral at Goldman Sachs
• ATP Oil & Gas (ATPG) downgraded to Underweight at JP Morgan
• CommVault Systems (CVLT) downgraded to Hold at Stifel Nicolaus

Coverage Initiated:

• Bank of America (BAC), Goldman Sachs (GS), JPMorgan Chase (JPM), Wells Fargo (WFC) initiated with a Positive at Susquehanna
• ClickSoftware Technologies (CKSW) initiated with an Outperform at RBC Capital
• EZchip Semiconductor (EZCH) initiated with an Outperform at RBC Capital
• PCTEL (PCTI) initiated with a Buy at Wunderlich; price target $7
• The Talbots (TLB) initiated with a Buy at Jefferies; price target $18

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