Analyst calls: Facebook initiated with a 'buy'
Retailers are downgraded at Citigroup, and News Corp. is upgraded to 'buy.'
Wednesday's noteworthy upgrades include:
- Heartland Payment (HPY) upgraded to Outperform from Market Perform at Keefe Bruyette
- News Corp. (NWSA) upgraded to Buy from Hold at Needham
- Riverbed (RVBD) upgraded to Hold from Underperform at Jefferies
- Yandex (YNDX) upgraded to Buy from Neutral at UBS
- Aviva (AV) downgraded to Hold from Buy at Jefferies
- Hasbro (HAS) downgraded to Sell from Neutral at Citigroup
- Macy's (M) downgraded to Neutral from Buy at Citigroup
- Nordstrom (JWN) downgraded to Neutral from Buy at Citigroup
- Saks (SKS) downgraded to Neutral from Buy at Citigroup
- Procter & Gamble (PG) downgraded to Sector Perform from Outperform at RBC Capital
- Pandora (P) initiated with a Neutral at Piper Jaffray
- Sirius XM (SIRI) initiated with an Overweight at Piper Jaffray
- Facebook (FB) initiated with a Buy at Goldman, with a Hold at Stifel Nicolaus, with a Market Perform at Raymond James, with a Neutral at Citigroup, with a Neutral at Credit Suisse, with an Equal Weight at Barclays, with an Outperform at Oppenheimer, with an Outperform at RBC Capital, with an Outperform at Wells Fargo, with an Outperform at William Blair, with an Overweight at JPMorgan, with an Overweight at Morgan Stanley, with an Overweight at Piper Jaffray, with an Underperform at BMO Capital
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The company is scrambling to protect its equities arm, which could face declining volume and revenue as competitors close the gap.
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