Analyst upgrades, downgrades and initiations

Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations

Analyst upgrades:

• Jefferies upgraded shares of Ensco International (NYSE: ESV) to Buy from Hold on valuation as they find the company's long-term EPS growth and potential upside from the GOM/Mexico jack-up market compelling.
  


• Friedman Billings upgraded Juniper (NASDAQ: JNPR) to Outperform from Market Perform following the better-than-expected Q2 report. The firm raised Juniper's target to $29 from $27.
  


• Friedman Billings upgraded shares of Southwestern Energy (NYSE: SWN) to Outperform from Market Perform on valuation following the recent weakness. Southwestern's target was raised to $43 from $40.


• Chipotle Mexican Grill (NYSE: CMG) was upgraded to Neutral from Underperform at Merrill.
  


• Merrill also upgraded Delta (NYSE: DAL) to Buy from Neutral.

• Baird downgraded Crocs (NASDAQ: CROX) to Neutral from Outperform following the company's weak Q2 report and guidance.


• Merriman cut Nautilus Group (NYSE: NLS) to Sell from Neutral to reflect the company's dependence on the consumer home fitness market at a time when consumer spending trends are weakening. The firm believes shares are overvalued and could potentially decline to the $4.00-$4.50 level.


• E.W. Scripps (NYSE: SSP) was downgraded at JP Morgan to Neutral from Overweight.
  


• HSBC lowered Daimler AG (NYSE: DAI) to Neutral from Overweight.
  


• Epicor Software (NASDAQ: EPIC) was downgraded to Hold from Buy at KeyBanc.

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