Analyst upgrades, downgrades and initiations: AKAM, PFE, NYX, SCHW, SNDK

Filed under: Analyst reports, Analyst upgrades and downgrades, Pfizer (PFE), Charles Schwab Corp (SCHW), NYSE Euronext (NYX), Analyst initiations, Akamai Technologies (AKAM), SanDisk Corp (SNDK)

Analyst upgrades:

• Merriman upgraded shares of Akamai (NASDAQ:AKAM) to Buy from Neutral as they believe consensus expectations are now realistic and already reflect macro headwinds. Merriman also thinks the company's cost reductions could generate upside to EPS estimates.
  


• JP Morgan upgraded Novo Nordisk (NYSE:NVO) to Overweight from Neutral on expectations the company's diabetes drug will gain U.S. approval.
  


• Credit Suisse upgraded Pfizer (NYSE:PFE) to Outperform from Neutral and raised their target to $20 from $19 citing the merits of the Wyeth (WYE) deal and valuation.


• Quality Systems (NASDAQ:QSII) was upgraded to Buy from Neutral at Piper Jaffray.
  


• Parexel (NASDAQ:PRXL) was raised to Outperform from Market Perform at Wachovia.
  


• Ferro (NYSE:FOE) was upgraded at KeyBanc to Hold from Underweight.

• Keefe Bruyette downgraded NYSE Euronext (NYSE:NYX) to Market Perform from Outperform as they believe unfavorable pricing trends and lower than expected volume in Europe will limit the company's earnings growth. The firm has a $25 target on the stock.
  


• Jefferies downgraded PetroQuest Energy (NYSE:PQ) to Hold from Buy as they believe the company's capex cuts could limit its reserve growth this year. The firm lowered their target price to $6 from $12.
  


• Goldman downgraded International Paper (NYSE:IP) to Sell from Neutral based on expectations for a 2009 earnings loss and a potential dividend cut.


• Itron (NASDAQ:ITRI) was cut to Neutral from Buy at UBS.
  


• E-Trade was lowered at Barclays to Equal Weight from Overweight.
  


• Charles Schwab (NASDAQ:SCHW) was downgraded to Market Perform from Outperform at Bernstein.

• Auriga initiated SanDisk (NASDAQ:SNDK) with a Sell rating and $8 target and believes the company's cash burn and uncertain demand will drive shares lower.
  


• Merriman started Imagi International (OTCQX:IIHNY) with a Buy rating. The firm believes the company is well-positioned to capitalize on the growing consumer demand for CG-animated pictures.
  


• Thermo Fisher (NYSE:TMO) was initiated with an Outperform rating at Cowen, citing compelling valuation and product mix.

 

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