Analyst calls: AMGN, BBY, KMB, DKS, RYAAY ...

Filed under: Analyst upgrades and downgrades, Best Buy (BBY), Kimberly-Clark (KMB), Amgen Inc (AMGN), Analyst initiations

Analyst upgrades

• Rodman & Renshaw upgraded shares of Amgen (NASDAQ: AMGN) to Outperform from Market Perform following the positive top line results from the FREEDOM study. The firm established an $80 target. Jefferies upgraded shares to Buy from Hold following the positive top-line efficacy and safety results for Denosumab in PMO as they view it as a "big win." The firm raised their target to $71 from $47.


• Best Buy (NYSE: BBY) was upgraded to Buy from Neutral at Banc of America.
  


• Goldman upgraded Kimberly Clark (NYSE: KMB) to Neutral from Sell and Dick's Sporting Good (NYSE: DKS) to Buy from Neutral.
  


• Rowan Companies (NYSE: RDC) was lifted at JP Morgan to Neutral from Underweight.

• Jesup & Lamont downgraded shares of Moog (NYSE: MOG.A) to Neutral from Buy on concerns of the company's high rate of R&D and its relative valuation. Keefe Bruyette downgraded shares of Federated Investors to Market Perform from Outperform following the company's lower than expected Q2 results and cut their target to $35.
  


• Ryanair (NASDAQ: RYAAY) was cut to Hold from Buy at Citigroup.

• Morgan Joseph believes Amgen (NASDAQ: AMGN)'s positive FREEDOM trial results will have a profound and lasting impact on the company's growth but also on its scientific credibility. The firm initiated coverage with a Buy rating and $77 target.


• Piper assumed Ctrip.com (NASDAQ: CTRP) with a Neutral rating and Epicor Software (NASDAQ: EPIC) with a Buy rating and $8 target.
  


• Banc of America initiated Britannia Bulk (NYSE: DWT) with a Buy rating and $19 target.

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