Analyst upgrades, downgrades and initiations: ANN, AXP, CIEN, DE, RA, SBUX, ZION ...

Filed under: Analyst reports, Analyst upgrades and downgrades, Starbucks (SBUX), American Express (AXP), Ciena Corp (CIEN), Analyst initiations, Deere and Co (DE)

Analyst upgrades:

• Jefferies upgraded Starbucks (SBUX) to buy from hold, citing EPS and revenue momentum heading into 2010. The firm raised its target to $25 from $22.


• Soleil upgraded Zions Bancorp (ZION) to buy from hold on valuation as it believes the recent pullback provides an attractive entry point. The firm has a $17.50 price target on shares.


• RBC Capital expects Rigel Pharmaceuticals (RIGL) to sign a partnership for R788 in the next four months to run its global Phase III program. Shares were upgraded to outperform from sector perform and its target was raised to $11 from $9.


• Deere (DE) was upgraded to overweight from equal weight at Morgan Stanley.


• Shire (SHPGY) was raised to outperform from market perform at Bernstein.


• Ann Taylor (ANN) was upgraded to overweight from market weight at Thomas Weisel.


• J.M. Smucker (SJM) was upgraded to overweight from neutral at JPMorgan.

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Analyst upgrades, downgrades and initiations: ANN, AXP, CIEN, DE, RA, SBUX, ZION ... originally appeared on BloggingStocks on Mon, 23 Nov 2009 12:00:00 EST. Please see our terms for use of feeds.

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