Analyst calls: ERIC, AMLN, DIS, IBM, CRM, FSLR, NOK, ALU ...

Filed under: Analyst upgrades and downgrades, Walt Disney (DIS), International Business Machines (IBM), Nokia Corp. (NOK), Alcatel-LucentADS (ALU), Analyst initiations, salesforce.com inc (CRM)

Analyst upgrades:

• Ericsson (NASDAQ: ERIC) was upgraded to Add from Hold at WestLB.
  


• JP Morgan upgraded Shire Plc (NASDAQ: SHPGY) to overweight from Neutral to reflect Vyvanse share gains and valuation.
  


• Wachovia upgraded Jefferies (NYSE: JEF) to Market Perform from Underperform because they believe that the recent collapse of the large cap bank sector, Jefferies' cash equity business, and the company's partial privatization as a result of its Leucadia investment will shield shares.
  


• Canaccord upgraded Amylin Pharma (NASDAQ: AMLN) to Hold from Sell.


• ADC Telecomm (NASDAQ: ADCT) was upgraded to Buy from Hold at Kaufman Bros. on valuation following the recent weakness.


• STEC Inc (NASDAQ: STEC) and Popular (NASDAQ: BPOP) were raised to Buy from Neutral at B. Riley.
  

• Merrill downgraded Disney (NYSE: DIS) to Underperform from Neutral and cut its target to $27 from $34 citing the impact from the current economic climate on earnings.
  


• Barclays downgraded IBM (NYSE: IBM) to Equal Weight from Overweight citing the impact from the weakening economy and the company's large exposure to the financial services industry. IBM's target was cut to $108 from $130.
  


• Jefferies downgraded Salesforce.com (NYSE: CRM) to Underperform from Buy on increased risks of deteriorating payment terms and price pressure on renewals. The company's target was lowered to $36 from $75.


• Goldman downgraded First Solar (NASDAQ: FSLR) and added shares to the Conviction Sell List.

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