Analyst upgrades, downgrades and initiations: AAPL, AXP, AMZN, KSU, IPG

Filed under: Analyst reports, Analyst upgrades and downgrades, Apple Inc (AAPL), Amazon.com (AMZN), American Express (AXP), Allegheny Technologies (ATI), Analyst initiations

Analyst upgrades:

• UBS upgraded Kansas City Southern (NYSE:KSU) to Buy from Neutral and lowered its target to $26 from $35 citing valuation.
  


• Gabelli upgraded Media General (NYSE:MEG) to Hold from Sell because the firm thinks that Harbinger Capital has sold most of its shares in the company. As a result, the firm thinks the stock will be under less selling pressure.
  


• Eagle Bulk Shipping (NASDAQ:EGLE) was upgraded to Neutral from Underperform at Merrill Lynch.


• Centene (NYSE:CNC) was raised to Buy from Neutral at Goldman.
  


• Ralcorp (NYSE:RAH) was upgraded at Credit Suisse to Outperform from Neutral.
  


• Interpublic Group (NYSE:IPG) was upgraded to Equal Weight from Underweight at Morgan Stanley.

• Keefe Bruyette downgraded Healthcare Realty(NYSE:HR) to Market Perform from Outperform on concerns the company's development activity could be dilutive to near-term earnings.
  


• Citigroup downgraded Satyam (NYSE:SAY) to Sell from Buy as they believe the company's acquisition plans, and subsequent cancellation of the deals, will lessen investor confidence in the name.
  


• Oppenheimer downgraded Apple (NASDAQ:AAPL) to Perform from Outperform citing Steve Jobs cancellation of his annual key note speech at Macworld on January 6. The analyst said the unexpected announcement underscores Apple's long-term dependence on Job's health and its lack of succession plan.


• Baird downgraded Carlisle NYSE:CSL)to Neutral from Outperform.
  


• Gibraltar Industries (NASDAQ:ROCK) was downgraded at Piper Jaffray to Sell from Buy.
  


• NetApp (NASDAQ:NTAP) was cut to Accumulate from Buy at ThinkPanmure.

• Citigroup believes the acquisition of Barr enhances Teva's (NASDAQ:TEVA) growth. The firm started shares with a Buy rating and $52 target.
  


• Suntrust initiated American Express (NYSE:AXP) with a Reduce citing slowing growth and greater-than-industry deterioration in credit quality.
  


• Roth Capital initiated The Buckle (NYSE:BKE) with a Hold rating and $17 target citing the deteriorating macro environment.


• Amazon.com (NASDAQ:AMZN) and Allegheny Tech (NYSE:ATI) were assumed with Neutral ratings and targets of $52 and $26, respectively, at UBS.
  


• Digital Realty (NYSE:DLR) was initiated at Piper Jaffray with a Buy rating.
  


• Mylan (NYSE:MYL) was started with an Overweight rating and $15 target at JP Morgan.

Analyst upgrades, downgrades and initiations: AAPL, AXP, AMZN, KSU, IPG originally appeared on BloggingStocks on Wed, 17 Dec 2008 12:38:00 EST. Please see our terms for use of feeds.

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