Analyst calls: NVS, DWA, APC, RF, GE, MTB, BYD, NWL ...

Filed under: Analyst upgrades and downgrades, General Electric (GE), Novartis AG ADS (NVS), Regions Financial (RF), Newell Rubbermaid (NWL), Analyst initiations, Anadarko Petroleum (APC)

Analyst upgrades:

• Credit Suisse upgraded shares of Novartis (NYSE: NVS) to Neutral from Underperform as they believe the stock's defensive characteristics justify a premium valuation.
  


• Merrill raised Dreamworks (NYSE: DWA) to Buy from Neutral and has increased confidence in DWA's sustainable success following the performance of Kung Fu Panda and new revenue streams.
  


• Anadarko Petroleum (NYSE: APC) was raised to Buy from Hold at Stanford on valuation.
  


• Goldman upgraded Smurfit-Stone (NASDAQ: SSCC) and Canadian National (NYSE: CNI) to Buy from Neutral and added International Paper (NYSE: IP) to the Conviction Buy List.
  


• Northern Trust (NASDAQ: NTRS) was upgraded to Buy from Neutral at Merrill.

• Jefferies downgraded shares of Savvis (NASDAQ: SVVS) to Hold from Buy and lowered the target to $17 from $20 to reflect decreasing visibility from economic headwinds and expectations for increased capex.
  


• Citigroup downgraded Regions Financial (NYSE: RF) to Sell from Hold as they believe fundamentals are not in-line with the current valuation following the recent rally.
  


• Merrill lowered their General Electric (NYSE: GE) estimates below consensus and downgraded shares to Neutral from Buy citing increased fundamental pressures on the company's GE Capital unit. GE's target was cut to $28 from $37.50.

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