Top Pre-Market Upgrades/Downgrades (FSLR, LVS, PHM, AAI, ANAD, CY, KBH, SPRD)

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

Upgrades:

• Applied Signal (APSG) upgraded to Buy at Merriman
• Arctic Cat (ACAT) upgraded to Strong Buy at Raymond James
• First Solar (FSLR) target raised to $180 from $155 at Argus
• Jazz Pharmaceuticals (JAZZ) upgraded to Buy at Lazard
• Las Vegas Sands (LVS) upgraded to Hold at Keybanc; price target $19
• PulteGroup (PHM) upgraded to Neutral at Goldman Sachs
• Seattle Genetics (SGEN) upgraded to Buy at ThinkEquity; price target $16

Downgrades:

• AirTran Holdings (AAI) downgraded to Neutral at JP Morgan; price target $8
• Anadigics (ANAD) downgraded to Hold at Stifel Nicolaus
• Cypress Semiconductor (CY) downgraded to Buy at Capstone
• Joy Global (JOYG) downgraded to Neutral at Sidoti
• KB Home (KBH) downgraded to Sell at Goldman Sachs
• Spreadtrum Communications (SPRD) downgraded to Hold at Auriga

Coverage Initiated:

• Trina Solar (TSL) initiated with a Buy at Soleil; price target $38